Social Security claim timing regrets? Took SS at 62 vs waiting until 70 - need advice from seniors

I claimed at 62 (now 74) and absolutely zero regrets. My monthly check was $1,430 instead of $2,510 had I waited until 70, but I've already collected $172,000 over these 12 years! I invested about 30% of those early benefits, which has grown nicely. My philosophy was always "bird in hand" - nobody knows how long we have, and I'd rather enjoy the money when I'm younger and healthier. Break-even calculations say I'd come out ahead around age 82-83 if I'd waited, but the quality of life I've enjoyed these past 12 years means more than a theoretical future benefit.

This is a deeply personal decision that depends on multiple factors. As a financial planner who specializes in retirement income strategies, I'll offer some technical considerations: 1. Longevity - The longer you live past 82-84 (approximate break-even age), the more total lifetime benefits you'll receive by waiting. 2. Earnings test - If working before FRA, benefits are reduced $1 for every $2 earned above $22,320 (2025 limit). Those reductions aren't lost forever - they're recalculated at FRA. 3. Survivor benefits - If married, waiting increases potential survivor benefits for your spouse. 4. Tax considerations - Early SS can create tax issues if you have significant other income or Required Minimum Distributions. One strategy to consider: claim at FRA and use the retroactive lump sum option if you need funds unexpectedly (can get up to 6 months of past benefits).

I started taking mine at 64 and kinda regret it now. Im 69 now and those checks would be about $900 more per month if I waited till 70!!! That's a BIG difference when your on fixed income. Sure I got 6 yrs of smaller checks but now im stuck with this amount for life. And with inflation these days, the bigger check woulda been nice. My advise is if you can afford to wait DO IT.

I waited until 70 and so glad I did! I'm 78 now and that bigger monthly check (almost $1,100 more than if I'd taken at FRA) gives me so much peace of mind. I was fortunate to have enough savings to bridge the gap those last few years, so your situation may be different. My only unexpected issue was Medicare enrollment - you still need to sign up at 65 for Medicare even if delaying SS benefits! I missed that detail and paid higher premiums for a while. Don't make that mistake!

took mine early and it was GREAT! i say take the $$ now and enjoy life! we could all die tomorrow, who knows?? all those calculations assume u will live to be 90 but what if u dont?? my husband waited to file til 66 and had a stroke 8 months later and couldn't even enjoy the money. so sad......don't waste your good years being poor just to be rich when your to old to have fun!!!

has anyone tried using the ssa.gov calculators? i tried but the website kept crashing when i was trying to check my future benefits. spent 3 days trying to get through to someone at social security and its IMPOSSIBLE!!! they never answer!!

What everyone forgets about is TAXES! My situation: claimed at 62, but with my pension and required minimum distributions starting at 73, 85% of my SS gets taxed. If I'd waited, would have depleted more of my IRAs before starting SS and ended up with less taxable income later. Something to think about!

My wife claimed at 62 and I waited until 70. We did this strategically - her early benefit provided some income while I let mine grow, and now she'll get my higher survivor benefit if I die first (which is likely since women typically outlive men). Something to consider if you're married - coordinating two claiming strategies can make a huge difference.

Anybody check the current cost-of-living adjustments? The 2025 COLA is 2.5% which isn't keeping up with my actual expenses. If you're delaying benefits thinking inflation protection is great, just know the official COLA and real-life inflation aren't always aligned. Something else to factor in...

Sometimes I think all this overthinking about when to file is just silly. Just do what feels right and stop worrying! Life's too short for all these calculations. I flipped a coin and filed at 65. LOL!

One last strategy to consider: If you're still working part-time and don't urgently need the money, you might file a restricted application for just spousal benefits (if eligible) while letting your own retirement benefit grow until 70. This option is only available to people born before Jan 2, 1954, but it's worth checking if you qualify. Also, remember that delaying benefits acts as a form of longevity insurance. The biggest financial risk for many retirees isn't running out of money in their 70s - it's running out in their 90s when healthcare costs typically increase dramatically.