Started Social Security at 62 - Do you regret it or feel it was the right choice?

Best decision I ever made! I took SS at 62 three years ago. Yes, I got about $630 less per month than if I'd waited to FRA, but that's still $1,890 coming in every month that I wouldn't have had. I've been able to stop dipping into my savings so much, and I'm enjoying life NOW while I'm still healthy enough to travel and do fun stuff. By my calculations, the break-even point was somewhere in my early 80s - and honestly, who knows if I'll even make it that far? My financial advisor initially disagreed with my decision, but I have zero regrets.

I regret it every single month when I see that deposit. Took it at 62 because I lost my job during covid and panicked. Now I'm stuck with $1425/month FOR LIFE instead of the $2180 I could've had at my FRA. Found another job 6 months later but it was too late - already locked in at the lower amount. If you don't absolutely NEED the money right now, WAIT!!!

took mine @ 62 no regrets at all!! that money helped me enjoy my early retirement years when i could still do stuff. my buddy waited till 70 for max benefits but then got parkinsons at 72 and couldnt travel or do anything fun with the extra $$. nobody knows how long theyll be healthy enough to enjoy the money!!

I think this is one of those decisions where people focus too much on the math and not enough on their actual life situation. I claimed at 62 about 5 years ago because: 1. Family health history wasn't great (heart disease) 2. I wanted to stop full-time work 3. Had enough savings that the reduced amount wasn't going to hurt badly For me it was 100% the right choice. But my sister waited until her FRA and that was right for HER situation. That said - be VERY careful if you plan to keep working! The earnings limit before 62 is brutal - anything over $21,240 (for 2025) and they withhold $1 of benefits for every $2 you earn. Many people don't realize how much this can cut into their payments.

I see so many people on both sides of this and honestly, there's no single right answer. It depends entirely on your personal situation. A few important considerations beyond the basic math: 1. Are you still working? The earnings limit in 2025 is $21,240/year before they start withholding benefits ($1 for every $2 above the limit). 2. Spousal benefits - if you're married, how does your claiming strategy affect your spouse? 3. Tax implications - claiming early while still working can push you into a higher tax bracket and make up to 85% of your SS benefits taxable. 4. Your health and family longevity are legitimate factors - the actuarial tables aren't personalized. One thing worth mentioning: if you claim early and regret it, you can still withdraw your application within 12 months of starting benefits (but you must repay all benefits received). And at FRA, you can suspend benefits to earn delayed retirement credits going forward.

I've worked as a financial advisor for 20 years, and one thing I've noticed is that people who claim at 62 due to genuine need or a clear lifestyle choice rarely regret it. Those who regret it usually: 1. Didn't understand the permanent reduction 2. Didn't account for the earnings limit if still working 3. Didn't consider their spouse's situation 4. Made a fear-based decision during market downturns Given your health concerns and decent savings, early claiming might make sense for you. Just make sure you're clear on how it affects other aspects of your financial plan. One consideration: look at your highest 35 earning years. If you're still in high-earning years, continuing to work (even part-time) can replace lower-earning years in your benefit calculation, potentially increasing your monthly amount somewhat.

My uncle waited until 70 to maximize his payments and died at 71. My dad took it at 62 and lived to 92. Guess which one got WAY more money from Social Security? Just saying...

Whatever you do, DON'T try calling Social Security to discuss your options. I spent THREE DAYS trying to get through to someone to ask questions about early filing. Kept getting disconnected or waiting for hours. The system is completely broken!!!!

One thing nobody's mentioned - you can claim at 62 but immediately suspend benefits if you change your mind within 12 months (though you'd have to pay back what you received). It's like a trial run if you're really on the fence. Just another option to consider.

Thank you all for the thoughtful responses! I'm seeing that personal circumstances really do matter more than the pure math. I'm leaning toward taking it at 62 since my part-time work will stay under the earnings limit, and my health concerns make me question if I'll hit that break-even point in my 80s. Plus, I'd rather enjoy the money while I'm young enough to use it for travel. Really appreciate everyone sharing their experiences - this has been super helpful!

I'm in a similar boat at 61 and have been wrestling with this decision for months. Reading everyone's experiences here really helps! One thing I'd add is to consider getting a personalized Social Security statement from ssa.gov to see exactly what your benefits would be at different claiming ages. Mine showed some surprising differences in the calculations that weren't obvious from the general rules. Also, if you do decide to claim early, consider setting up automatic investments with part of that monthly payment into a conservative portfolio. Even though you're getting less per month, you could potentially grow some of that money over time. I know it's not the same as waiting for the full benefit, but it's something to think about. The peace of mind factor is huge too - knowing you have that guaranteed income coming in every month, especially with the uncertainty in the economy and job market these days. Thanks for starting this discussion - it's exactly the kind of real-world perspective I needed to hear!

I claimed at 62 two years ago and it was absolutely the right choice for me. Like you, I had some health concerns (diabetes and high blood pressure) and my family history isn't great for longevity. I'm getting about $1,650/month instead of the $2,400 I would have gotten at FRA, but here's the thing - I've already received over $39,000 that I wouldn't have had otherwise. What really sealed the deal for me was when my neighbor waited until 70 for maximum benefits, then had a stroke at 72 and couldn't enjoy any of the activities he'd been planning. Meanwhile, I've been able to take three trips to visit my grandkids, fix up my house, and actually sleep better at night knowing that money is coming in regardless of what happens to the stock market or my 401k. One tip: make sure you understand the earnings test if you plan to work. I do some consulting work but keep it under $20k annually to avoid the benefit reduction. Also, don't forget that your SS benefits will still get COLA increases each year, so even though it's a smaller base amount, it will grow with inflation. The math says to wait, but sometimes life isn't about math. You have to do what gives you peace of mind and lets you enjoy your retirement years while you're healthy enough to do so.

I'm 64 and claimed at 62, and honestly it's been one of the best decisions I've made. My monthly benefit is about $1,580 instead of the $2,300 I would have gotten at FRA, but having that steady income has completely changed my retirement planning stress levels. What really convinced me was watching my father-in-law agonize over the decision for years, constantly running calculations and worrying about "optimal timing." He finally claimed at 66 but spent so much mental energy on the decision that he couldn't enjoy his early retirement years. Meanwhile, I've been collecting for two years now and have used that guaranteed income to reduce my 401k withdrawals during market downturns. The other thing that worked in my favor - I was able to negotiate a part-time arrangement with my old employer specifically because I had SS coming in. Without that financial pressure, I could take a 20-hour/week consulting role that keeps me engaged but gives me tons more flexibility. The earnings limit hasn't been an issue since I keep it around $18k annually. Yes, I'm "leaving money on the table" in theory, but in reality I've gained peace of mind, financial flexibility, and two extra years of guaranteed income. Sometimes the emotional and practical benefits outweigh the pure mathematics. With your health concerns and solid savings, it sounds like you're thinking about this the right way.