Reasons for taking Social Security at 62.

[basstracker89]

I'm 60 and will take it at 62. Tomorrow is not promised.

It's all a crap shoot

 

[basstracker89]

I retired at 61, took SS at 62. The company I retired from takes part of your retirement when you go on SS, which I think is illegal….immoral at the very least. I had cancer, and seem to be doing OK, but that will surely make you second guess your longevity.

Amen to that. I had a heart attack and triple bypass at 39. My Grandfather had heart problems, died in his early 60s. I should've gotten disability, but no........
Every pension I've seen they start out good and gradually dissipate. I was supposed to have 4 pensions when I retired. Everyone screwed me. Oh I got some money, but not much. Not what I was promised. Since I could no longer trust them, I took a cash out. Been building it ever since

 

[basstracker89]

I took SS at 62, after having a couple of heart attacks and diagnosed with congestive heart failure I figured I should go ahead. As others said we’re not guaranteed tomorrow.

Sounds like a good reason to me

 

[basstracker89]

I maxed my SS out at 66+4 months. Still worked another 4 months and would have worked longer but the screwed up pension plan we had took more money away the longer you worked. We also have a 401k that I have to start pulling from in a few years. My family has a history of living longer.

You have a lot of good to look forward to

 

[basstracker89]

Roll the dice

 

[Bushwick100]

I took mine at 62 because for almost 29yrs I was sick. My wifevis younger than me and she will take hers at 62yrs also, we just out the money in our Dogs emergency fund.

 

[palmettomoon]

I'm bailing and taking it at 62. Heart attack at 39, 8 stints, the beetus, etc. Had a life threatening situation in 2019 so basically retired then. Did NOT want to work to retire then die a few weeks or months later like a LOT of folks I know did.

 

[CPA9mm]

This assumes you're not going to work until full retirement age. A guy here was working past 66.5 (His full retirement age.) So he could draw a full paycheck AND full SS.

The post was "Reasons for taking Social Security at 62" so my comment pertained to reasons not to take it at 62. Obviously you want to take it at full retirement age when earnings limits do not apply.

 

[basstracker89]

I'm bailing and taking it at 62. Heart attack at 39, 8 stints, the beetus, etc. Had a life threatening situation in 2019 so basically retired then. Did NOT want to work to retire then die a few weeks or months later like a LOT of folks I know did.

Work it out. Starting early saving helps the most

 

[basstracker89]

The post was "Reasons for taking Social Security at 62" so my comment pertained to reasons not to take it at 62. Obviously you want to take it at full retirement age when earnings limits do not apply.

I think anytime your taking S.S. and working they will penalize you