It’s a real sucker’s bet to take your social sec. benefits at 62 unless you really, REALLY need the bucks, or are in bad health and might not make 70. But the Work Credit benefit that runs to 70 will nearly double the benefit that you would have gotten at 62. Even if you are a lifetime payer who would be a max recipient at 65 makes the discount you have to take at 62 a bad deal. Make sure you know how much you will be losing by taking early before you make the move because there’s no going back. I promise you will bitch the rest of your life if you take the early discount and then need more income later-—it won’t be there.
In my situation, you take the money now and travel with it, or whatever. We don't know what our future holds.
It bothers me when Social Security benefits are lumped in with “entitlements”. I worked full time for nearly 40 years and had no choice but to pay into SS. A late in life divorce by a unfaithful spouse has left me with little. I fully intend to start receiving SS at age 62. I cannot wait until my benefits reach their maximum. I am very fortunate to have a pension after working for the same employer for 32 years, who downsized my group and moved our work to contractors in India. I continue to work part time in the small community with a lower cost of living to which I retired. If I live long enough my total benefits received will make up for the discount of taking them early.