5 Smart Reasons to Claim Social Security Benefits at 62

Why Do People Collect SS at 62-Rebel Retirement

Why do so many people claim Social Security benefits at 62 years of age, you might ask?

Well, for those who have made that decision, the answer can attract a lot of negative opinions. As a matter of fact, some may feel hesitant to admit that they claimed at 62 or are planning to do so. It could be a source of embarrassment for some, especially because others in their age group might view it as a foolish decision.

Nevertheless, if you claim “early,” you are not alone. In fact, this is the case for approximately 40% to 45% of Americans, based on Social Security statistics. But does that imply that these retirees are unintelligent or incapable of heeding the advice of financial advisors, who typically suggest waiting before collecting benefits? Certainly not.

They are individuals who rely on themselves and are capable of making sound decisions, regardless of what the popular recommendation might be.

In this article, I’ll list 5 smart reasons to claim Social Security benefits at 62.
Chart from Social Security Administration - Rebel Retirement

5 smart reasons people claim SS benefits at 62.

There are many valid reasons why people claim their Social Security benefits at 62. And it’s not because they think benefits will disappear!

For most, the pursuit of happiness and personal circumstance is what drives their decision to do so.

No. 1 – Financial Flexibility and Investing in Yourself –  Financial flexibility allows for control of resources and doing more with your money. Claiming benefits at 62 allows people to manage their income to meet personal goals while investing in themselves.

No. 2 – Health – Individuals with health problems or those predisposed by family history or genetic factors often claim benefits at 62. For many years, they’ve worked hard and paid into the system. Upon careful consideration of life expectancy, they want what belongs to them before they die.

No. 3 – Maximize Lifetime Benefits – After analyzing the numbers, they determined that waiting to claim Social Security benefits would mean a loss of thousands of dollars. In their wisdom, they take the money and invest in themselves. This enabled them to create revenue streams that lasted even into their old age, securing their financial future.

No. 4 – Lack of Job Satisfaction -There’s more to life than a job. It’s not uncommon for people to say they hate their jobs and are looking for the earliest opportunity to call it quits and retire. They want to pursue their passions and enjoy time with family and friends.

No. 5 –  Work and Earn – Social Security allows individuals to work while receiving benefits. There are earnings limits for those under full retirement age. However, claiming benefits at 62 and working part-time is a viable option that aligns circumstances with financial goals.

Read: Is it Better to Take Social Security at 62, or Wait [Do the Math]

John. Q. Public answers “Why do so many people claim Social Security at 62?”

These embeds come from Quora. They give intelligent and valid reasons why one would claim Social Security benefits at 62. (A couple of the respondents claimed at 63.)

Read Rick Cassano‘s answer Why do so many people claim social security at age 62? on Quora


Read Dennis Bokay‘s answer Why do some people take early social security payments, rather than waiting for full retirement? on Quora


Read Do DanielsanswerWhy would you take early Social Security (Age 62)? on Quora


Smart Reasons to Collect at 62 Video


Although approximately 45% of Americans claim their Social Security benefits at 62, many baby boomers are reluctant to admit it because of peer pressure and negative opinions.

However, the decision to claim “early” is valid and for good reason. Whether it’s health issues, disliking their job, or deciding to put their money to good use, almost half of Americans file for Social Security benefits at 62.

Regardless of whether you decide to claim at 62, 63, or full retirement age, your decision should ultimately be driven by personal circumstances. It’s your decision, not your financial advisor’s.

Last updated: 07/05/23

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2 thoughts on “5 Smart Reasons to Claim Social Security Benefits at 62

  1. Janette says:

    My husband and I both elected to take SocSec
    at 62. We wanted our money back to invest as we saw fit. Also, we weren’t confident that the funds we be available if we waited until 65 or later. I am now 75 and single and I would still make the same decision.

    • Yoga Woman says:

      Hi Janette! I love hearing from people who understand that Social Security is their money. Thanks for sharing your insight! All the best to you!

      ~Marlene, Yoga Woman

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