Social Security at 62?

Social Security at 62? Let’s Run the Numbers


By receiving Social Security at 62, you take a haircut on potential future payments of 30 percent compared with a 6.7 percent reduction at 67. For those waiting until age 70, Social Security offers an 8 percent yearly rate of increase in payments (not including cost-of-living adjustments) over taking benefits at 62. That easily beats what you would earn in government bonds these days.
Comment: Image source. Kathee and I have been having these discussions. Both of us are past 62 and we have not opted to receive social security at this time. I expect we will wait until at least 65 for Kathee and 66 for me. Mentioned in the article: maximizemysocialsecurity.com.

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