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Collect your Social Security at age 62! Don’t wait, live your life now.
For many working individuals, the thought of retirement and receiving Social Security benefits might seem like a distant dream. However, there is an option that allows you to start collecting your benefits as early as age 62. It’s time to break free from the traditional retirement timeline and start enjoying the fruits of your labor now!
One of the main reasons why people hesitate to collect Social Security at 62 is the concern that they will receive reduced benefits. While it is true that your monthly payment amount will be lower compared to waiting until your full retirement age, there are still several advantages to taking the plunge at 62.
First and foremost, collecting Social Security at 62 gives you the freedom and opportunity to live your life on your own terms. Instead of being tied to a full-time job, you may have the chance to pursue personal interests, hobbies, and travel while you are still physically fit and able. This early retirement option allows you to enjoy the fruits of your labor and make the most out of your remaining healthy years.
Moreover, there are several financial benefits to consider when collecting Social Security early. If you are in need of an immediate income stream, starting to claim your benefits at 62 can provide vital financial support. This could be particularly beneficial if you have faced unexpected financial setbacks or if you wish to pursue a new business venture while still relying on Social Security as a safety net.
Additionally, claiming Social Security early may be a wise move if you have concerns about the program’s long-term financial stability. With the ongoing debate about the level of funding for these benefits, taking advantage of your payments sooner rather than later can provide a sense of security and peace of mind.
It’s important to note that while collecting Social Security early has its advantages, it may not be the right choice for everyone. If you are in good health, financially stable, and have alternative sources of income, waiting until your full retirement age might result in higher monthly benefits. It’s crucial to assess your individual circumstances and consult with a financial advisor to make an informed decision.
In conclusion, collecting Social Security at age 62 is an enticing option for those who wish to break free from the traditional retirement timeline and enjoy life to the fullest. It allows you to take control of your future, pursue your passions, and alleviate financial pressures. However, it’s essential to weigh the pros and cons, considering your unique situation, before making this decision. Remember, the choice is yours – don’t wait, start living your life now!
Crush It !!!
How much you’re getting ? $2,100?
That’s right “ time “ is not re-newable! Enjoy it while you can because once that day is gone you can’t get it back.
You are basically talking about people without a car paying or mortgage.
What about insurance?
Retirement kills more people than work……
Sarasota Tim I just watch your video on Social Security at 62. It’s the first video of yours I’ve watched and I thoroughly enjoyed it and agreed with you. I was born in 1956 and I started taking mine at 62. My birthday is also on 29 December, just want to let you know how much I enjoyed the video and I look forward to looking at some more. Thanks
Tim, I want to retire so bad, but I had kids late in life and I still have a kid in HS. I turn 65 next year, I hope to be able to retire next year, but I want to get my last kid into college.
This is the WORST advice anyone can give. The most impoverished people I know in my age group at my current age of 67 are all the people who collected at age 62 due to this idiot non logical BS. Most of these people were in low paying jobs and their SS benefit is between 600 and 1200 per month. They are not able to survive financially. Don't listen to this guy. He has no idea what he's talking about. Put off collecting as long as possible. IF you think you can survive on 600-800/month with inflation factored in over 30 years without ANY change in health status you are dreaming and succumbing to magical thinking aka ignorance. How much is your rent? How much are your basic bills per month? $1700 per month from SS is more than twice what most people get.
I agree with most of what you're saying, Tim. However, there is one thing that you and most other SS annuitants don't seem to consider is what happens when we are in our later years and will likely have to enter an assisted living facility. It may be better to have that extra money to help pay for that $7,000 to $9,000 monthly ALF bill.
YOU LOOK GREAT FOR RETIREMENT AGES!! 8) HAVE A NICE LIFE BUT DON'T FORGET TO DO THE WILL OF GOD LIKE JESUS TOLD US TO DO BY FINISHING THE SPREAD OF THE GOOD NEWS GOSPEL AND SAVING PEOPLE FROM HELL DAMNATION OR WE WILL WASTE OUR LIFETIME BEING ASHAMED BEFORE GOD FACE TO FACE . . . BEST WISHES, THANKS FOR SHARING! 8)
I don't qualify for SS as I didn't work enough quarters during my 35 years with the local utility company. And, my wife really got jipped on her SS $$$. She only gets a very small fraction of what she thought she'd be getting and….so she took a small job and they took out even MORE SS dollars!
Dude! I subbed and then saw you post 15 videos a day and then unsubbed! Your overdoing it bad
Hi and new here. So glad I found your channel! I’m 54 and will set myself up to be ready when 62 comes around. Thanks again soo much!!!
if youn dont need the ss, take it and donate to charity, tax deductible
If you are married and been married for over ten years then best to wait 67 so your wife will get full spouse survival benefit.
I retired 7 years ago at 62. I have VA health insurance health insurance so medicare was no an issue. Best wishes to everyone.
2 guys at my job are in there 70's and still working 60hr weeks. I'm done at 62 in 2yrs. I started working when I was 14 and full time since 18. In my line of work there are no 40hr weeks 50-70 is the norm. But when I retire I can do temp work for extra money if needed. I have no debt except property taxes & insurance so I really don't need to keep working.
And if you're collecting Social Security at 62 and you don't make any extra money they do not tax your Social Security I don't believe. I think if you make over $25,000 they start taxing your Social Security. And they use 50% of your Social Security income towards that 25,000. So if you're making $20,000 a year and Social Security take $10,000 you can make another 15,000 before they start taxing your Social Security. I believe that's correct
Thank you for your advice. I've not been able to work a job. Heart health. Meds . Thanking about 62 retirement . May not payed in enough with. Worked 10 years.
If you weren’t a Moron, I would have considered working minimum wage shit jobs until I die…… but still working full time making lots of money at 67.
Im a nurse of 43 yrs, my mother at 85 lives with me. I retired and started getting my pension, waited 2 months started another RN job, plan on working until having to stay home permanently with my mom. Then Ill have my pension, pick up a couple shifts a month to bridge the cost. I also consider contract nursing for 3 months, full time, live on that for year. Then I wait to draw SS til 69 get full SS. I think its medicare F or G, thats the one to take
Tim, I'm 62 in just a few months. Could you do a video on side hustles and how to find them, please?
Taking SS early also reduces your COLA increases. Here is an example From Investopedia; In addition to receiving a smaller monthly benefit than if you'd waited until full retirement age, you'll get less on a dollar basis from any future Social Security cost-of-living adjustments (COLA). Beneficiaries are slated to receive an 8.7% increase in 2023 (the increase was 5.9% in 2022). Someone born between 1943 and 1954 who currently receives a full monthly benefit of $2,000, for example, will get an extra $174 each month.
If that same beneficiary started taking Social Security at age 62, their benefit would have been reduced by 25%, to a current $1,500, and they'd get a COLA of just $130.50 a month in 2023. And, because of the effects of compounding, the difference between the two benefits will continue to widen year after year.