[ncfool]

What if you were financially secure. Have plenty of money (over 3 million )to last your lifetime or longer would you go ahead and start taking it at age 62.

[SamAdams76]

It would depend. I'm coming up on 62 myself but still working and earning well above the threshold of $21,240, which means that $1 for every $2 of my benefit would get clawed back.

Once you hit 67 (or FRA) then your income will have no bearing on your Social Security check. That makes the most sense for me.

If however, I decided to stop working between now and 67, taking that check might make sense, even if it is smaller than if I had waited.

[chuck allen]

Yes take the SS at 62, it’s a no brainer if you do the math. The best reason other than you need it is to take your benefit at 62 if you DONT need it.

A fairly decent earner might receive a $2000 benefit at age 62, or a $2700 benefit at age 67. In the 5 years between these ages you would receive $120,000 by taking it at 62. (60 months x $2000 = $120,000). You would still receive your $2000 starting at 67 plus another $700 a month if you wait. It will take over 14 years for you to make up the $120,000 you didn’t take early. (171.43 months x $700 = $120,000). 171.43 months is 14 years plus. This math works with any benefit amounts. Give me the money now!