• First and foremost, because I could. Healthy and able to retire at 62 was a no brainer. A bird in hand is better than two in the bush. The time utility of the money in hand today outweighed the promise and value of more money down the road.
• The government could keep raising the ante for when I could retire. I decided to take the certainty of what I could get now.
• What if I got sick and couldn't enjoy it down the road? What if I waited and I died before I could draw it? The prospect of receiving more money as I got older would become a moot point if I died before I could start drawing it.
• I thought it better to take it now, than to wait for more later. The amount of money I would have to forego while waiting until 65 or 66 or 70 to start drawing a larger SS check, far-outweighed any difference in the smaller amount I could start receiving right away.
• My financial advisor said to wait until I got older. I did the opposite. He's since passed away at age 60 of a heart attack.
It's been 8 years since I started drawing my SS at age 62. I am still healthy and alive, and doing well financially. Either I made the correct decision or I just got lucky or both.
No regrets. Life is good. Enjoy the fruits of your labor while you can.
Happy New Year!
You'd probably never forgive yourself!
Regards,
LOL
You said, “• My financial advisor said to wait until I got older. I did the opposite. He’s since passed away at age 60 of a heart attack.”
Mine said the same thing and he is still alive. I just turned 62 and he did a year ago. I’m still gnawing on the decision but will probably file this next year... maybe.
What did you do for health insurance between 62 & 65?