How to Retire at 62 with Little Money [It’s About Value]

How to Retire at 62 with Little Money - Rebel Retirement

The best way to retire at 62 with little money is to think outside of the box and use the Just in Time Retirement method. It’s a value-based retirement plan and the way that we’ve managed our retirement for the past 15 years.

Plus, you’ll need to:

  • Conquer retirement peer pressure and ignore the influence of friends and family who don’t know what’s best for you.
  • Make peace with money and learn to let it flow. We’ve all been conditioned to think certain ways about money and it hasn’t always been good.
  • Be independent and chart your own course.

Next up, I’ll offer 5 keys to unlocking the door on how to retire at 62 with little money. Please follow the links I’ve posted as they give important information for success.

Disclosure: This article contains Amazon affiliate links to products we recommend. If you click through and make a purchase through these links, we’ll get a small commission, but you won’t pay any extra. Thank you!

1. Be Self-Reliant

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A self-reliant individual is an independent thinker. It’s someone who has the confidence to make their own decisions without the influence of peer pressure. It shouldn’t be confused with self-sufficiency where one provides for their necessities without relying on the assistance of others. Being self-reliant is an essential ingredient to a successful retirement at 62 with little money.

Read: What is a Self-Reliant Retiree?

2. Get Out of Debt

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It’s very important to get out of debt and live on a cash basis. When Rebel Retiree and I retired to the Northwest, we decided we never-ever wanted to carry debt again. Debt made us feel bad. Therefore, in my opinion, if you want to retire with little money, you don’t want to have to worry about mounting debt. Pay it off now.

Read: What is it Like to be Debt-Free? 8 Traits of a Debt-Free Retiree

3. Take Charge of Your Health

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Essentially, this bit of advice comes from the belief that health is better than wealth. And if you want to retire at 62 without a lot of money, it’s advantageous to avoid health issues by providing yourself with a healthy lifestyle and having less reliance on pharmaceuticals.

Read: Plan Now to Have a Happy, Healthy Retirement

4. Determine What you Value

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Confront your ego and create a retirement experience based on what you value as opposed to fear and peer pressure. For example, you want to retire at 62 with little money. However, your mind tells you all of the “buts” of why you can’t. To get rid of the “buts” start determining only what you seriously value. Not what you think is necessary – particularly to impress others.

Read: How Much Money Should You Have to Retire? Try Value-Based Retirement

5. Work Part-Time or Build an Income Stream

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You’ll hear people say that you’re not really retired if you work part-time. That’s petty! Yes, retired means cease to work. Although, many people do some kind of work after retirement. Even if it’s managing their portfolios (Rebel Retiree loves to bring up that example). Nevertheless, if you want to know how to retire at 62 with little money, consider supplementing your social security check with a part-time job. Better yet – put on your entrepreneurial hat and build an income stream that will last into your golden years.

Consider Teaching English Online – it’s a great course and an ideal way to earn from home. 

Closing Thoughts

Statistically speaking, most people don’t have as much money as they would like to have in order to retire at 62.  However, you can still retire at 62 with little money using value-based retirement and the wherewithal to make it happen.

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Last updated: 02/10/22

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7 thoughts on “How to Retire at 62 with Little Money [It’s About Value]

  1. Susan says:

    I’m 64 and applied for SS in Jan. Didn’t hear anything til end of May and I worked some through that time, getting a chunk check for Jan-April. But now I’m working some ABD getting SS. Will I get a lot of penalties , I expect to have to pay back but I can make in 10 weeks what SS gives me in 1 year (I couldn’t pass on it)

  2. Victoria C says:

    Soaking in any advice. My job is killing me. I can retire with little money but I’m concerned about having medical insurance! I’m healthy but know I need to start making my health a priority. Paying for insurance would wipe me out financially.

    • Yoga Woman says:

      Hi Victoria!

      It sounds like your job is very stressful. Unfortunately, medical insurance has a lot of people over a barrel. Health care costs are insane! However, I think you’re on the right track with making your health a priority in doing what you can to maintain your best health. I don’t know your medical needs, but you can file for Medicare at age 65. This may help with your financial situation. Although, SS will deduct the costs of Part B from your benefits. Hope it all works out for you soon!

      Thanks for stopping by!

      Marlene, Yoga Woman

    • Sandy says:

      Don’t retire without enough money!!! I can’t say that enough. I am retired. I have no debt. I live in my home that is paid for. I bring in about $7,000 a month with retirement plan with health coverage, SS, etc. If you own a home there a lot of unexpected expenses! You can’t expect to stay healthy and independent when you are old!!
      Make sure you are realistic!!!!!!!

      • Yoga Woman says:

        Hi Sandy,

        Good advice indeed! You have no debt. Your home is paid for. And you have a $7,000 a month income. When one determines what they value, as you have, they can retire sooner instead of later. Thanks so much for sharing!


  3. Luisa says:

    Thank you for your advice, I seem to be on the same path. I eliminated my debt and I just have 2 years to prepare myself mentally and physically before I turn 62 and retire without money but once I retire I don’t ever want to hear the word work not even part time

    • Yoga Woman says:

      Hi Luisa!

      You’re welcome! I do hope this article provided some inspiration and encouragement. You’re definitely on the right track by eliminating debt. It’s so freeing! And you’re not alone on your retirement journey. Many Baby Boomers are in the same boat! Thanks so much for stopping by! I hope to hear from you again soon!

      Marlene, Yoga Woman

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