Personalized Social Security Strategy Analysis and Report:

75% of all SOCIAL SECURITY recipients file for Social Security retirement benefits BEFORE full retirement age. Most of the time they should have waited. This video Lane Martinsen gives 5 good reasons to file for Social Security benefits at age 62 as well as 5 good reason to delay filing for benefits.

Personalized Social Security Strategy Analysis and Report:

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For many Americans, reaching the age of 62 is a milestone that often comes with the decision of when to file for Social Security benefits. While some may choose to wait until their full retirement age or even later to start receiving benefits, there are several compelling reasons why filing for Social Security at age 62 may be the right choice for some individuals.

1. Early Access to Income
One of the most obvious benefits of filing for Social Security at age 62 is that it provides early access to a steady source of income. For individuals who may have retired early or are facing financial hardships, starting to receive Social Security benefits at age 62 can provide much-needed financial support.

2. Health Concerns
Health issues can often play a significant role in the decision of when to file for Social Security benefits. If an individual is in poor health or has a family history of health problems, filing for benefits at age 62 may be a sensible choice in order to start receiving the benefits before any potential health issues worsen.

3. Early Retirement
Many individuals choose to retire early for a variety of reasons, such as wanting to pursue other interests, spending more time with family, or simply wanting to enjoy their retirement years while they are still young and active. Filing for Social Security at age 62 can help support an early retirement lifestyle by providing a source of income.

4. Job Loss or Unemployment
In today’s volatile job market, unexpected job loss or unemployment can happen at any age, including at age 62. Filing for Social Security benefits can help bridge the gap in income while looking for a new job or transitioning into retirement.

5. Breakeven Analysis
While waiting until full retirement age or later to file for Social Security benefits can result in higher monthly benefits, there is also a breakeven point to consider. This is the age at which the total cumulative benefits received would be the same regardless of when benefits were started. For some individuals, the breakeven point may be beyond their life expectancy, making it more advantageous to file for benefits at age 62.

In conclusion, there are several good reasons why filing for Social Security benefits at age 62 may be the right choice for certain individuals. Whether it is for financial support, health concerns, early retirement, job loss, or simply to maximize total benefits received, weighing these factors carefully can help individuals make an informed decision about when to start receiving Social Security benefits.