Claiming Social Security at age 62 is one of the most common retirement decisions people make. And for some, it is absolutely the right choice.
The problem is usually not claiming early. It is making the decision too quickly, without fully understanding the tradeoffs.
In this video, I walk through three situations where claiming at 62 is not necessarily wrong, but deserves more thought than it often gets, including:
• When you are healthy and may live a long life
• When you do not actually need the income at 62
• When you are the higher earning spouse and survivor benefits matter
We also talk through practical considerations that are often overlooked, such as:
• How longevity and flexibility factor into the decision
• The role of cash flow and investment risk
• How Social Security is taxed and why it is often more tax advantaged than people expect
• Why break even calculations can be misleading
Claiming early is not automatically a mistake. But it is a permanent decision, and the right answer depends on how Social Security fits into the rest of your retirement plan. That includes your assets, your taxes, your spouse, and how you want retirement to feel.
If you are approaching claiming age, or even a few years away, this video is designed to help you slow the decision down and think through it more intentionally.