Considering taking SS at 62 instead of FRA - anyone happy they claimed early?
I've been lurking on this forum for about a month now and noticed almost everyone recommends waiting until Full Retirement Age (FRA) to start Social Security benefits. Very few seem to suggest claiming at 62. Many recommend living off savings until reaching FRA, but I'm struggling to understand why I should deplete my 401k when I could take SS early and let my investments continue growing. The permanent reduction in benefits seems significant, but the math changes if you consider the opportunity cost of draining investments early, especially in a decent market. Has anyone here actually taken SS at 62 or 63 and been happy with their decision? Any early claimers with no regrets? Or is waiting until FRA truly the better option for most situations? I know everyone's financial circumstances are different, but I'd love to hear some real experiences from both sides.
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Emily Thompson
There's absolutely a case for claiming early in certain situations! I started my retirement benefits at 62 last year and have zero regrets. My strategy was to take SS early which allowed me to leave my IRA untouched for an extra 5 years. Those investments have grown substantially more than what I "lost" by taking reduced SS benefits. Plus, I calculated my break-even point (around age 82), and honestly, with my family health history, waiting didn't make sense. The peace of mind of having guaranteed income NOW was worth more to me than a larger benefit later. But it really depends on your health, other income sources, and whether you're still working (watch out for the earnings test!).
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Jacob Lee
•Thanks so much! That's exactly the kind of perspective I was hoping for. My investments have performed well historically (7-8% average), so letting them grow longer makes sense to me. The earnings test isn't an issue since I'm fully retired. Did you calculate your break-even point yourself or did you use an online calculator?
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Sophie Hernandez
im collecting at 62 right NOW and its the best decision ever!!! my wife thinks were crazy but who knows if were even gonna be alive at 70?? the SSA takes your money for DECADES and then wants you to wait even LONGER to get it back? no way jose. take it while you can. my neighbor waited till 70 and died at 71. all that money he couldve been enjoying for 8 years. think about that.
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Daniela Rossi
•While I understand the sentiment, I think it's important to note that statistics should guide these decisions more than anecdotes. Social Security isn't designed as a return of your contributions - it's insurance against longevity. The average 62-year-old male today will live to about 84, and females to 86. That means mathematically, for most people, waiting does provide more lifetime benefits. Of course, individual health circumstances and financial needs should always be considered.
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Ryan Kim
Claiming at 62 was the right decision for me, but I'll caution that it depends entirely on your specific situation. I claimed early because I had a pension that covered most of my essential expenses, and I wanted the extra SS income for travel while I was still young and healthy enough to enjoy it. My thinking was that I didn't need to maximize the SS benefit since it wasn't my primary income source. However, if you're relying heavily on SS for basic living expenses in your later years (when healthcare costs typically increase), waiting for a larger benefit might make more sense. Have you run projections on both scenarios with your actual numbers?
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Jacob Lee
•I appreciate the thoughtful response. I've done some basic projections but nothing too detailed yet. I do have a small pension ($1,800/month) plus my retirement accounts. My essential expenses are fairly low - mortgage is paid off and I live in a low cost area. Your point about healthcare costs increasing later is something I need to factor in better though.
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Zoe Walker
This is actually a GREAT question and one that financial advisors often get wrong. The conventional wisdom about waiting until FRA (or even 70) assumes you're comparing ONLY the SS benefit amounts in isolation. But if taking SS early means preserving your retirement accounts longer, you need to calculate the crossover point including investment returns. For many people, this shifts the math in favor of taking it early! It also depends on if you're married - survivor benefits add another layer of complexity.
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Jacob Lee
•Yes! That's exactly what I've been thinking. The conventional wisdom seems to ignore the opportunity cost of spending down investments. I am married, and my wife has her own work record but a lower benefit than mine. How does that factor into the equation?
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Zoe Walker
•With married couples, it gets more complicated because of survivor benefits. When one spouse dies, the survivor gets to keep the HIGHER of the two benefit amounts. So if your benefit is significantly higher than your wife's, maximizing YOUR benefit might make sense because it essentially becomes life insurance for her. But again, this needs to be weighed against what your investments could earn during those years of delay. No single answer works for everyone!
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Elijah Brown
has anyone tried calling the ssa to ask them what to do? ive been trying for weeks and cant get thru...
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Maria Gonzalez
•SSA representatives aren't allowed to give personalized advice on when to claim - they can explain the rules but can't tell you what's best for your situation. That said, if you're having trouble getting through to SSA, I recently used a service called Claimyr (claimyr.com) that got me connected to a real person at SSA in under 20 minutes after weeks of failed attempts. They have a video showing how it works at https://youtu.be/Z-BRbJw3puU. It was worth it for me because I needed to sort out some earnings record issues before making my claiming decision.
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Elijah Brown
•thanks ill check it out. been so frustrating!
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Daniela Rossi
Financial planner here. This is actually more complicated than most people realize. While the standard advice is often to delay, there are several scenarios where claiming early makes mathematical sense: 1. Poor health or shorter life expectancy 2. Need the cash flow to avoid depleting investments during market downturns 3. Lower-earning spouse claiming early while higher-earning spouse delays 4. Using early benefits to fund Roth conversions before RMDs 5. Enabling retirement several years earlier than otherwise possible The math depends on your longevity expectations, tax situation, other income sources, and investment return assumptions. For someone with substantial investments, the opportunity cost of depleting those accounts early can indeed tip the scales toward claiming SS at 62, especially in a strong market.
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Ryan Kim
•Great point about using early SS benefits to fund Roth conversions! I did exactly this - took SS at 62, which gave me enough income to live on while converting portions of my traditional IRA to Roth each year at a relatively low tax bracket. By the time RMDs hit at 73, I'll have moved a significant portion to Roth, resulting in lower lifetime taxes.
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Sophie Hernandez
WHATEVER YOU DO dont listen to the financial advisors here they just want you to wait so they can keep managing ur money longer and collecting fees!!! TAKE IT EARLY
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Emily Thompson
•That's not accurate. Fee-based advisors typically charge a percentage of assets under management, so they actually benefit when your portfolio grows larger. If anything, they might be biased toward recommending you preserve your investments (by taking SS early) rather than spending them down. Every situation is different, and there's no one-size-fits-all answer to the claiming age question.
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Jacob Lee
Thanks everyone for the thoughtful responses! This has given me a lot to think about. I'm definitely going to run more detailed calculations including the investment growth potential and tax implications. I hadn't considered the Roth conversion strategy or the survivor benefit implications for my wife. Sounds like I need to look at this as part of our overall financial picture rather than just comparing benefit amounts at different ages.
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Daniela Rossi
•That's exactly right - it needs to be evaluated as part of your complete financial situation. One additional resource you might find helpful is the Open Social Security calculator (free online tool). It runs thousands of scenarios to help determine optimal claiming strategies for singles and couples. It won't account for your specific investment situation, but it's a good starting point for understanding the SS-specific implications of different claiming ages.
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Maria Gonzalez
I work with retirees as a financial educator, and I've seen both sides of this. The biggest regrets I typically see are from people who claimed early and then continued working without understanding the earnings test (which can temporarily reduce or eliminate benefits if you earn too much before FRA). Or those who claimed early without realizing how it would impact their surviving spouse. But for those who did the math and made an intentional choice based on their specific circumstances? Very few regrets. The key is making an informed decision rather than just claiming early because you can.
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Elijah Brown
•wat earnings test?? i'm 61 and planning to take ss next year but still working part time. nobody told me about any test??
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Maria Gonzalez
•If you work while collecting SS before your full retirement age, SSA will deduct $1 from your benefit for every $2 you earn above the annual limit ($21,240 in 2025). Once you reach FRA, the earnings test no longer applies. This is a key consideration that many people miss when claiming early while still working! The withheld benefits aren't lost forever (you get credit for them later), but it can significantly reduce your short-term cash flow.
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