Collecting Social Security at 62 My Thoughts with PawPaw

The numbers used in this video are an example only.
I am comparing a baseline of $1000 at full retirement age to drawing at 62 and 70.
Thank you for your support.

[@edsmith4414]

Dad dropped dead at 49, Mom at 60, both heart attacks. Never got a dime from SS. Yeah....I took mine at 62 and never considered anything else.

[@mikebussy3334]

I'm right with you bro, I'm 46 had cancer at 27 (ruined my finances for life.) then between 42 and now I had 3 heart attacks (I'm not a quitter) lost a good job as a union Glazier. I can't do work like that anymore. So I do odd jobs and handyman work. It fucking sucks. Best of all you work all your life and have health insurance then you lose your job from health issues and you no longer have it.

[@Templar777_K9]

I'll be 60 years old, this DEC 2019...I have to wait 2 more years.

[@vawt1953]

Ed Smith my dad took his at 63 he was a real estate agent making great money but they would tax the shot out of him so he said screw this had a very nice golfing retirement life until he passed away a few years ago

[@christopherhennessey8991]

Ed ,you did the right thing.

[@vixxcottage]

@@mikebussy3334 I understand cancer will ruin your finances for life. Happened to me in 30s . Now well past that but worked many years past that. I agree taking it @ 62 is still a good idea.

[@davidchmielecki2967]

I did not want to take my Social Security at 62.I turned 62 last July.I was really forced to as I got laid off from my job and collected unemployment for six months.It is not openly said but there is discrimination against old people and it does not matter if you have good job skills.

[@sheriskousen4863]

My husband just got laidoff at 64. Lost it all even 100,000.00 life insurance.

[@jimiknowsbest5099]

David...... same happened to me.... nobody wants to hire us older workers, even tho I can still out work any younger man to this day. Took my SS last year at 62..... spend my days now fishin' and sippin' shine.... them Demoncrats ain't taking mine to give to 'immigrants ' .... TRUMP 2020 ...

[@conniemurphyover70stillgla47]

@@jimiknowsbest5099 TRUMP 2020 :)

[@wireworks616]

You're absolutely right David. There is a big discrimination against seniors working. Harbor Freight is a big one. They won't hire anyone over 50.

[@michaelturner7215]

Your right, I've had the same thing happen several times.

[@taintedmeat9740]

I did it ...retired at 62. Mostly because I was tired ,very tired and did not think I could go on until age 66. It took a full 6 months of rest before I felt OK again. Those assholes in congress should put full retirement back to 62. Any politician that claims to fix social security by raising the age requirement automatically gets a hell no from me !

[@thebluelunarmonkey]

I'm going with 62. It's not about the math. Mom's side of family hasn't reached very old age. All natural deaths. Granddaddy 61. Grandma 57. Aunt 55. Mom 63. Cousin 46. The oldest living is my older sister 58. Dad's side grandma 95 granddad 72. I'm not the gambling type. And when you work in a corporate environment you don't like, it's going to take a toll on me with stress. Every year past 62 is one less year of living free. And similar to what you said there's no warranty on us living, just the opposite working longer is more miles on the odometer.

[@kellypenrod2979]

I plan on retiring at 62, the work I've done for the last 45yrs has taken a real toll on my body. It's not about the age with some of us,... it's the MILEAGE!

[@ponydown418]

Amen!!!

[@farmerstanbrand4064]

We can send billions to other countries but our SS is in jeopardy of running out of money?

[@webman1956]

I turned 62 last June and grabbed it first chance I could. I figure that by the time I`m closing in on 80, I `ll be talking to the walls and won`t see the money anyway because it will be going to some underpaid gal at the retirement home that keeps forgetting to change my Depends.

[@kenm7179]

IMO people are nuts not to take it at 62. My first wife died at age 33 (breast cancer)- so I have a different perspective than some. Making it to 70 or even 66 is not guaranteed. PLUS- every year after 62 you'll be older, more aches and pains, less energy, less testosterone lol, and more chance of health issues. At this age your days are numbered, so working extra years so you can get an extra hundred of two when you're 66 or 70? I retired at 56 (69 now), lived on savings, used up my 401K, plus two tiny pensions till SS kicked in at 62 . And moving from outrageously expensive Massachusetts to rural Maine helped as well. Sorry for such a long post, just putting my two cents out here. If you love your job and want to continue, that's fine- but I have no regrets.

[@captaincoyote1792]

Ken M.....well said. I fortunately have two pensions (military and law enforcement)....I’m 65 and am waiting til my wife retires to take my SS. I’m more interested in the fact that we, too, live in western “Taxachusetts”.....and have loved Maine since starting my Navy career there in early 1970s. I want very much to retire to Maine, but it seems to me that Maine’s taxes are worse....but it seems you didn’t find that to be the case? Anyway, I enjoyed and appreciated your response to Paw Paw.

[@christopherhennessey8991]

In 2014 I retired at age 55 with my RN pension . Claimed Social Security benefits at 62.I began collecting benefits Nov 2020 plus an additional monthly benefit for my 10 yr old. My two older daughters work in health care .One is an RN the other a Physical Therapist. I advised them to take the monthly pension if their employer offers it and to claim Social Security benefits at 62.

[@jimsbarg]

Take the money at 62 and work a part time job

[@normaevett]

Both my parents died at 65. Dad was miserable at work, retired at 62 and enjoyed fishing, traveling, and grandkids before cancer got him. Glad he retired early! I hurt much all over from my job. 62 for me!

[@pennythostenson3431]

You sure cleared it up for me! I am getting mine at 62. I know people who died before they could collect social security. I feel so much better about it now. Thank you.

[@alfredo8a336]

SS is money for TODAY. When your today reaches 62, cash your check. 67 is an uncertainty.

[@frankhyde3384]

Life began at 62 for me. Wake up naturally and work on projects I've put off because I didn't have time for them working 40 hours a week. I even have time to hit the gym twice a week. My ability to enjoy life while I'm still healthy is more important to me. Great video!

[@bigbossman3806]

Yup, I retired at 63 and I'm 70 now. I'm here today but have no idea if I will be tomorrow. The money that was in my SS Account belongs to me and I've drawn 7 years of it so far, that's a win !

[@nealcleveland4954]

That $725 today will have more actual buying power than a $1000 will in five years too.

[@fultonguyy]

2016 at 62 i told my job see ya! Havent look back, tell everybody I'm just like a cloud in the Sky! Which ever way the wind blows I follow, no more time clocks, no more road rage, no more Ass kissers, total freedom!

[@arturojsabina8234]

I did the same I retired at 62, moved to the Philippines. My retirement at 62 was $1212 9 months ago if I waiting to 66 it could have been$ 350. But I don't know if I be alive at the age. So after the increase January $1246 I get 65,000 pesos I live great here in the Philippines

[@thatgirlthatsme]

You helped me make up my mind of what I need to do. I am 64. Am going to call them today, I thank you sir. I wouldn't have done the right thing if not for you,

[@DoingItCheap]

Everyone's situation is different...... for me, I am retired military and have insurance through TriCare. Not everyone can afford to retire early because they didn't plan ahead. I hope you are one that did !!

[@Thejoeordinary1]

Life is short...eat dessert first...and collect your social security at 62! 😀

[@CaliWeHo]

Yaaaaas!!!

[@keywestconch8]

I just turned 58 and I've been saying for the last three years that I'm taking mine at 62. I'll take what they give me. I want to enjoy the rest of my life.

[@waynesaladeen]

I took mine at 62. It's not much due to my work history, but it helps. I now work part-time to help supplement the check, but I love that I have time for myself. I read literature, listen to good music, and train Jiu Jitsu in the days that I don't work, plus my stress level diminished immensely. I don't regret it. Thank you for the video

[@BillGreen206]

Your figures are exactly why I started drawing my ssi at 62. It's nice to hear that someone has come to the same conclusion as me.

[@wesallen6782]

Thats my plan also. I retired from the Navy at 38, then retired from the Post Office at 57 and will take my SSI at 62 because as you said you are not promised tomorrow. Co workers thought I was crazy to retire at 57 but two years later the wife and I have been on 5 cruises and spent 6 weeks in Europe and are slowly traveling America in a motor home. Life is much better and cheaper being retired as soon as you can.

[@monam.5923]

Turned 62 just as the Corona shut down the US. I immediately filed for Social Security, I knew my job in retail was to be no more. Glad I have income coming in now. Live on less and be happy to have your health.

[@loupi4bama]

I turn 62 on 09/06 and I am definitely filing on that day! Happy Birthday to me.

[@kathyharris4787]

Before I turned 62, God placed it on my heart, to checked into social security, and see what I would get, my goal was to continue working, and get my social security also, but before I know it, my job, closed all their stores, so glad I started, receiving SS, I wouldnt, had any money at all coming in.

[@zitawillingham4391]

I turned 62 in sept I didn't walk I ran to the social security office to get my money this video is spot on

[@agent4you2]

I had unexpected open heart surgery last year and that opened my eyes to what is really important. I just started collecting at 62 and couldn't be happier that I did!

[@tomasjay1005]

Love every minute of it ! Started at 62 along with my military retirement and the wife’s SS check. Take home more money now than when I was working yet still below the taxible level ! And no SOB supervisor to put up with !

[@martineclement3918]

Good idea I love it especially the part where I don't have to deal with a lot of nonsense like some stupid supervisors and administrators and managers love it.

[@christopherhennessey8991]

Same here .Collected RN pension at 55 ,claimed Social Security benefits at 62.Additional benefit I receive for my 10 yr old takes care of child support.

[@Dirtdabber1972]

I did the same at 62 3/4. Between mine and my wife we receive about 31,000 plus my VA disability we do alright.

[@cliffnotemad1son]

Retired at 58, started drawing S.S. at 62. Best move ever, there is no guarantee of tomorrow and have already lost to many younger friends.

[@billybarrett7192]

Your 💯 percent right, I lost my brother last month at 58 years old . None of us is promised tomorrow!

[@jlina]

Cliffnote Mad1son I've lost 6 friends in 2 years! Hard to believe as I'm barely 60. And impossible to replace them.

[@marks146]

Thank you for showing this to the masses. You made it easy to understand. My financial advisor tipped me off to this situation. I also have a pension and took both of them at 62 which was over two years ago. I picked up a part time job doing something I love and I'm making as much as when I worked full time hating my job. Now I'm happier and healthier due to the reduced stress in my life.

[@mikeddify]

I retired at 62.No regrets!My younger brother has worked all his life and just passed at 59.Get it while you can!

[@topspeederalmond]

AMEN

[@henrijohnrahmon]

You are not crazy, your absolutely correct!!! I’m an Accountant, and I always give this advise! Thank you for the information, I hope you can make more videos to teach the public!

[@bernie9728]

I retired 7 years ago at age 62. People should not be confused by the lower payment at age 62. The reason you get less at age 62 is because you are going to get more checks. It's not magic, it's math. Payout at 62, or age 66, or age 70 all come even at around age 80. The only way you can possibly know which one is right for you if you are concerned about the money is this. You need to know the exact date of your death. When I retired at 62 I asked my self one question and that was "would I rather have more time being retired, or more money when I was almost 80 years old. I think it's smart to look at family history when it comes to how long you will live. Well my dad died when he was 80. He did have a brother who live to 87, but he also had a brother and sister who died in their 60's. That was enough for me to pull the trigger at 62. Everybody gets to choose for themselves, but I like to advise people to consider the value of time. For me time is far more valuable than money. By retiring at 62 I gained 4 years of time vs the person who waits until age 66 and 8 more years that the person who waits until age 70 all for the same money at age 80. That sounded best to me. You have to make your own choice.

[@scottwitkowski1298]

My father started drawing at 62 years old, he even took a cut on his pension to retire earlier. He excercised everyday and was an active outdoorsman. He really did enjoy retirement. Unfortunately, he was diagnosed with stage 4 cancer at the age of 65. He only had another 8 months with us. He passed at 66 years old. Ive learned from my fathers experience. Im only 36 years old but I will retire as soon as possible. If I keep "doing it cheap", I'm on track to retire between 58-60.

[@waynesaladeen]

Sorry to hear about your father.

[@tmr3513]

Yep, been drawing it since 62. Never a thought of waiting because as a wise man I know, the only day that is certain is yesterday.

[@awillis244]

T.M. Ritchie-Amen!!! Beautifully stated TRUTH

[@kbrabson]

Well said!

[@fredjimenez2679]

I started at 62, next month I qualify for Medicare...will never regret my decision! Enjoying life. I hope folks do the math, I did.

[@chrislindsay3104]

I'm 60 and I drew the same conclusion, PawPaw. Not gonna wait. Plus, there is that inflation thing, too. You wait to 66 1/2 and your bigger paycheck don't buy as much. Maybe not a big thing. But some of us remember the late 70's.

[@ronsheppard9895]

I did it . I thought like you're thinking . I pulled the trigger and never looked back . I took a part time job just to keep me out of the refrigerator . 20 hours a week weed eating. I stay in shape and healthy . BUT! Here's what made me jump on it. My Dad retired at 64 after 45 years as a field diesel mechanic for GM . 2 weeks after retirement he was diagnosed with pancreatic cancer. 1. 5 years later he was gone. His retirement was spent dying. Darn right I retired at 62. The big big, big, trick is have "EVERYTHING" paid off . I have a house , 4 acres , 2 trucks, a fishing barge , zero turn mower , motorcycle , tractor, . I live on my part time job money for now and stuff my Soc. Security in the bank. I'll need it when I get too old to play football :) I live in a low tax area and claim agriculture deduction to make land taxes lower. I save a ton and don't have to spend on gasoline or lunch or clothes for work . Mileage has dropped 80/90 %. I eat the fish I catch and I'll shoot a wild hog once in awhile. I have the time to repair things and enough saved to buy new if I can't fix it. .( Hot water Heater for instance.. don't EVER buy a used one. I never did it's just something I won't do.) I'm not kidding. Sometimes I stop. … A lot of times I stop just to smile and Thank the Good Lord for this retirement time. I'm just tickled all to pieces. :) I appreciate you and Good luck . :)

[@dougfa3515]

Sounds like a good life to me! Congrats!

[@anotherdingbat5769]

I paid in 130k over my 40yrs. I'll get back 22.5k per yr. At my full retirement age.. I will have collected it all back. *take THAT, you bloodthirsty Government suckers!!*

[@bernie9728]

The only good reason to take your SS at age 62 is because they won't let you take it at 60. I took mine at age 62 and it's the 3rd best decision I ever made. 1st was marrying my wife. (just past 45 years married last year), the 2nd best decision was making sure we were debt free by the time I was 62. Don't be fooled by the lower monthly payment you get at age 62 vs age 66. Yes, the amount is more if you wait, but If you don't wait and take the money early you get a 48 month head start on the total money. The monthly amount does not matter. It's the total amount that matters. Do the math and find out how long it takes to catch up at the higher amount. For me it was 78 years and 9 months. Up until that age I was getting more total money at the lower monthly payout. Ask yourself one question would you rather have 4 more years of time while you are young enough to enjoy it, or more money when you are almost 80? It was a no brainer decision for me.

[@stu3775]

good point

[@christopherhennessey8991]

Claimed at 62 myself ,no regrets. I receive both my RN pension and Social Security benefits.Nice having two passive income streams.

[@evazee772]

Paw Paw the light bulb went on in my head last month with your same exact theory. I will start drawing from S.S when I'm eligible. I was fortunate to take early retirement at age 57. À Financial adviser quoted those same words to: enjoy your money while you can, if not the government will stay with it if you don't get live out your Golden years. My motto: Live for today because tomorrow is not promised. Thank you! This was confirmation. Take care and continue in blessings.

[@60yobfandproudmills79]

I applied for S.S .@ 63.8 yr..after working 38 years in the healthcare field,..I am glad I did...of note...in this 2020 year I have friends/acquaintances/relatives.. who passed...ages 62,63,66,65,55..and there are more;...none of them collected their S.S....it has worked out very well 4 me...and for me it is the right decision...noone knows for sure how long they have...but this decision 4 me was a measure of comfort.Thank you 4 this!Good luck to all as U decide your future.

[@raallen1468]

My husband died days before he turned 60. He had worked as a farmer since he was a kid, was an Army Veteran & truck driver . Never got 1 damn penny from SS! When I turned 60, as a widow, I started drawing my/his SS benefits.. No way in H was I going to wait....

[@LynnVids1]

Don't know if it is still the same....but I think if you drew on HIS account; and your account remains untouched at 70...you can switch to yours without penalty as if you never drew his at all, and take your 70 yr draw ...or at least you used to be able to. Good for folks to at least ask SS about that.

[@rdwilliams9581]

I'm 78 and took S.S. at 62 1/2 I figure that the lack of pressure has extended my life to around 97. My mother bowled in 3 leagues a week at 85. So I haven't hit my prime yet. My neighbor is 28 days older than me. He finally retired 2 months ago. The doctors say he has less than 6 months to live. I say a bird in the hand is worth 2 in the bush.

[@jefftate01]

I took mine at 62 also. My job of 34 years went under and I was left with finding another full time job at age 58. Not fun, but I did it. That job lasted for about a year and I left there and decided to semi retire at 62 and draw SS and also work part time at a gun shop. What a blessing! I make as much money as my career paid with SS and wages, I have new good friends , I'm working a job I for once really like and I have more free time than ever. I win.

[@tomhenkel2311]

I came to the same conclusion so I retired at 62, I'm now 65 and still couldn't draw the full amount until age 66. I'm glad I did it. I worked my whole life full-time job and a part-time job as a fireman. I needed a break!

[@thyslop1737]

Good video. Talked to my retired neighbor and asked him at what age her drew S.S. and he said 62. When I asked him why he named a half dozen people he knew who never made it to 64.

[@mariogonzales2479]

I'll be 62 next year thinking about retiring dumbass didn't save a penny but you know what I have heart problems and I'm just tired of working I want to enjoy what life I have left

[@janozkk]

At 62 it’s $2,000 versus $2,800 at 66&10 months. Next year I plan to collect at 62. The amount SSA gives is the same, if you retire later they pay higher because they expect computed everybody at a 79 year life span. Easier to walk away from a 6 figure income with the Corona virus and economic depression facing us. Minimalist life will do us good.

[@rvsam4u]

Took mine at 62. Felt like I'd be leaving money on the table if I didn't. Couldn't be happier!

[@jrperformancecars2270]

My father passed away 6 months before he could start drawing his max. Never got to enjoy it. I knew then if I make to 62 I’m retiring. I always say we are not promised tomorrow so live today

[@barbaralynch3015]

I took it at 62. The difference you'll get at 66 isn't even going to be worth as much with inflation. Might as well enjoy retirement earlier. You may not be as healthy then to enjoy it anyway. What good is a few hundred more if you become bedridden? Or worse?

[@gsp49]

Or somebody runs that red light.....curtains.

[@LarryFournillier]

@Brian Kay my mom also waited until she was 66 and she passed away at 68.

[@davidb8777]

I have read several articles the claim that things pretty much work out the same in the end whether you retire at 62 or at your full retirement age. if you're going to retire early do yourself a favor and make sure you retire completely debt-free. No mortgage and not even a car payment.

[@davidthecardcollector]

Take the money at 62 and work under the table.

[@hankschwab7854]

Da C. BOOM! BOOM BOOM BOOM!

[@DoingItCheap]

Under the table means you get paid in cash and don't tell anyone.

[@MyLinuxToyBox]

I retired at 62 with social security only. I have absolutely no regrets. I am 70 now. And have been loving life for 8 years. I turned into a computer geek.

[@TJ-mc8uh]

Remember all the people that worked 30+ yrs and died within a year or two after retiring. This was in the 80's and 90's. Then the gov. pushed back the age of retirement to 70 yrs old. Take YOUR money while you can, No One is promised tomorrow.

[@00selzen]

Took my SS @ 62 two years ago. Since then I have completed 249 major projects that built up over the years. I'm a DIY-er. I painted my 4-stall garage 3 coats, ripped out my bathroom wall to fix a pipe, tore out and installed a new sink, put in a fountain, doubled my garden size, redecorated my back porch, laid new carpet myself, built shelves in my basement, got a new dishwasher, built a deck, cut down 2 trees, built a shed, etc. I figure the money I saved not hiring this stuff out saved me a bundle. I tried to get my 2 friends to retire with me, but they wanted to go to 65. They both died last year. Once I get my projects done I figure I can always go back to work, but will wait until my full retirement age of 66 where there is no limit to what I can make and keep my same SS amount. No regrets here!

[@tonibutts9574]

I had no idea after retirement of 62 when you turn 66 you can go back to work and make as much money as u want and still continue with your retirement monies. Excellent idea!!

[@bernie9728]

It's important to remember that taking the money at 62 does not mean "less money". In fact, in some cases it means more money. SS reduces the monthly payment at 62 because the person who takes the money at 62 will draw the money for a longer period time. They also know that statistically speaking that the longer they can get people to wait the more likely it is that some of those people will die before ever collecting. One thing to think about is the fact that the person who takes the money at 62 will receive 96 checks before the person who waits until age 70 gets their first check. The decision as to when to take the money would be easier if we knew the date of our death. The way I look at it is that life is short. Retire early and enjoy the time you have left.

[@deborahcrutchfield5022]

I drew my SS at 62 1/2 I drew a lot more then that and drew my pension plan at 56 it’s the best thing I ever did . I love retirement . My house is payed for. I bought a new car payed it off early .I will be 64 next month and living the Dream. Have a Great day. Retire fast as you can enjoy life. Life is short.

[@johnpossible6292]

My father was 64 when he passed away, he never saw one check from SS. I plan to take mine at 62 and keep working till 65 then apply for medicare.

[@c2shiningc176]

I'm retired it's official now. I'm 60 thought I'd wait til 65 but have realized life's short. Been retired two months and I'm as happy as I've ever been. To all who are struggling with when to retire, do it a.s.a.p. it took me 1 yr. For paw paws logic to sink into my thick skull I studied this question for over a year and my conclusion, there is no increase for delaying benefits, your amount is just spread over less months!!! Love this logic. In two months I am a changed man. Giving 40 plus yrs. To sobb bosses is long enough. I'm enjoying life finally. I bought a Honda goldwing touring bike and visiting my 88 yr. Old dad. And my new adventure I'm building my dream cabin. Not making my boss rich any more. It's my turn! I paid in long enough. The land clearing exercise has strengthened me physically mentally and spiritually. Retirement is great!!! I will collect @ 65 because the wife's 6 years younger and my benefit is higher but my advice don't wait too long. Money can't buy time. Enjoy life. P.s. paw paw I love your logic and your videos. Thanks 👍

[@geraldc.37]

Started taking s.s. benefits at 63 yrs age. My father worked to 65 collected 11 checks and passed away. My brother collected at age 62 and passed away with 1 yr of retirement benefits. That made it a no brainer for me. Do not miss getting up at 5 a.m. Sleep till 8, no hurries no worries.

[@shawnbeck2303]

My grand father died at 63. He drawed 1 yr. My father died at 60. He retired early disability. I have had 2 heart attack's at 56. I am getting out early at 62. You do the math! We are not given tomorrow. I am 59. Get my first pension starting Oct 1st. Working on 2nd pension now. We are 25 trillion in debt. People take Paw Paw advice! Get why the getting good. The Goverment wants you to wait it's to there advantage. For you to wait. Shawn

[@divox9pqr]

Paw Paw...You’re telling the absolute truth...I took my SS at 63....Even though my FRA.....Full Retirement Age was 66. Tomorrow’s not promised to us...get it while still can, and find a part time job. God Bless you Paw Paw.

[@sallyclay1974]

My ex husband worked til he passed away at 65. He never drew a cent of social security.

[@timfleischer6857]

Couldn't agree with you more. Took mine at 62. I'm now 73. Don't regret my decision for a minute.

[@DoingItCheap]

I will be 66 in August. My checks have already bought two tractors, a bass boat, a pontoon boat and my new 24 X 40' garage. I planned for my retirement in that I did not count on SS to be there.

[@MeetJoeBlack55]

I'm really glad to see someone make a video on this ..... I did the math years ago, and figured no matter what your lifetime income is (like you said, it's all based on percentages), that it takes TWELVE YEARS to catch up to what you have received from 62 to full retirement age (FRT). As you have shown, depending on your age, that will vary ONLY SLIGHTLY for most 'Baby Boomers' ... so you would have to live to around 78 years old to break even, and even after that, you're only pulling ahead by that small percentage each year, not the FRA amount. So, through good investments and careful planning (and working part-time if you wish) in the years between 62 and 66, you will easily gain back the "late-in-life" difference. Of course my bottom line was = "MONEY CAN'T BUY TIME" and we all know how life is much easier and usually healthier and more enjoyable at a younger age than when you are in your 'senior years' .. (because we all learn that the phrase "The Golden Years" is a lie).... so, your video, also supports my thinking = RETIRE AS YOUNG AS YOU CAN !!! I'm just an old truck driver, but I retired at age 60, took SS at 62, and now at 65, I can tell you those last FIVE YEARS have been the most enjoyable of my life .. I mean TOTAL FREEDOM. The only warning is: you MUST HAVE a good plan for HEALTH INSURANCE from when you decide to retire, until you reach Medicare at 65 .. because health insurance premiums have been a big expense from age 60 to 65. If your a relatively low wage earner such as myself, you can usually find state or federal sponsored programs that really help, and also, your Social Security check will cover much more of your living expenses, than if you are a high wage, "living-high-on-the-hog" type of individual .. if you want to keep up your "life of the rich & famous", then you need to keep working ( or have really good investments). Thanks again for the video ... hope a lot of people with questions are helped by it ... I just thought I'd throw in my 2 cents to pass along my experience of RETIRING EARLY !!! :)

[@MamaDee737]

Paw Paw you are so correct!! I retired at 60 on widows benefit!! Its all in running the numbers. You can get the the numbers you need from SS office and friends and family who are already retired about expenses. I started living off the SSI projected income for 2 years while I was still working to see if it was comfortable. Once I realized I needed to have zero debt including no mortgage I set my plan and prayers into motion. It has been so worth it!!

[@joannvannek14]

Joce, thanks for posting. I am debating collecting widows benefits at 60, 58 now. My brothers say wait as long as you can to collect, but I own my house and already have medical through my own VA benefits, (USMC here). It is a tough choice because my benefit will not be high, 1000 a month. Also who is to say the Government will not change the requirement age for widows, once you are already collecting we would most likely be grandfathered in. I agree with Paw Paw.

[@pirateshack9315]

you are 100% right my friend ! i just took mine at 62, why wait. and as you said, that money is doing better in my pocket than the gubmint !!! thank you for all your vids !!!

[@rnman99]

Easy to say keep working till you're 70 when you're nowhere near retirement... the closer I get to 62 the better it looks. I'm wore out NOW, I can't imagine doing this shit til I'm 70.

[@CrimsonRunnerToJesus]

LOL! I can't imagine either!

[@DoingItCheap]

Hardee's senior coffee 59 cents free refills.

[@christopherhennessey8991]

Word to the wise,don’t work till you’re 70.

[@chairde]

Never ever wait to take SS. I retired at an early age then drew a pension. Then when I turned sixty two I took SS. Best thing I ever did and now I’m 73 and healthy. Stay on a job and you’ll be the richest man in the cemetery.

[@johnfortunetrading1360]

I have a degree in finance and have been working in investments my whole life. I couldn't agree more with you! Great analysis. I am taking my benefits on my sixty second birthday in eight months!

[@DoingItCheap]

You can apply online 120 days before your birthday. I received my first check this week.

[@christopherhindle8371]

Many people don't live long enough to collect Social Security. For every person that dies before retirement, government officials do the money dance!

[@richardwhytsell7974]

I also retired at 62 and it was the best decision of my life.

[@JohnzCarz]

There are no guarantees on what the future will bring, you can only base your decisions on the here and now. You may not live to be 66 1/2, your health may not be the same, the political landscape / SS rules may also be very different, etc. Will SS even exist when some of these younger folks turn retirement age? Who knows. I follow a simple rule: A check in hand today is worth 3 in the mail tomorrow.

[@sue3424]

I retired from the army at the age of 47 years young and I have not worked since (check #1, retirement). I am 100% permanently and totally disabled (check #2, VA disability) and when I reach the age of 62 in three years, I will receive my SS benefits (check #3, SS) so I have no reason to wait until my full retirement age. Nope, not happening. I agree with PawPaw.

[@josephraymond9648]

Took mine at 62 am now 71. Never regretted my decision. Had part time jobs for a few years and stayed below the SS penalty amount. The politicians want you to delay taking your money early so they will have more of your money to raid for their own pockets. The only reason I can see to stay working is that you really love your job

[@karenleight4462]

I retired at 62 and never regretted it. Have a nice life...thankx for sharing:)

[@krisstuff8681]

My mom was in perfect health until she turned 52. Had never been sick in her life. Then, she got terminal ovarian cancer and died at 56. I’ll be taking my social security as soon as I turn 62, and I’ll be taking my pension as soon as I’m eligible to do so. I want to enjoy living now vs. waiting. We are not promised tomorrow. Of course, my dad is 80, but I highly doubt I’ll live that long. He’s the exception in my family. The norm is to die in early 70s in my family. Enjoy life now while you can!

[@trankt54155]

You just calculated the BREAKEVEN point. Take that money and invest it and leave it to whomever/whatever you desire but do not leave it to the government.

[@hosocat1410]

Another factor is what can you do with the money. At age 62 you are still healthy enough to travel, or do yard work, or drive a new car. The older you get the fewer activities you are physically capable of doing. So you might want to get your money now while you can use it to spend on activities you like to do.

[@DoingItCheap]

Exactly and if you live past the break even point, what difference does it make. For over 12 years that has been the check you are used to.

[@thondupandrugtsang]

I was thinking to take SS at 62. Now I'm even more determined to do so. Thanks.

[@historygradstu]

Born 1960, they have my FRA at 67...hahaha no way Im getting out at 62! I think more than 50% of us on the tail-end of the baby boom are getting out at 62. Its not always about the money folks, sometimes its about doing what you want to do, when you want to do it, without 40+ hours a week getting in the way

[@debjean9303]

We think alike. I took my Social security at 62 for the very same reason you stated and don't regret it. I worked and collected and live well. And you have a wonderful day too.😂

[@barbjefferson2069]

Ditto here. Took mine at 62. I can now enjoy time with my husband and my grandchildren. My mother and father worked hard all their life and did not live long enough to collect any SS at all. I swore that wouldn't be me.

[@markprater1]

I'll be 62 in May 2020, and can't wait. You can file 3 months before your birthday, so February can't get here soon enough. Thank God I landed a decent job at 32, then a great job at 39. Worked at that company for 18 years. Started at $34K per year in 1997, and in my last year of 2015, I made $73K. So I'm looking at $1300 per month at age 62. Losing $500/mo by not waiting til 66, and $800 by not waiting til 70. I'm DONE working, dammit. My first 30 years were in NJ/Philly; my 2nd 30 years were as a husband and father in Miami, and my 3rd 30 years will be just for me in a low cost Central/South American city. I don't need a lot to be happy; I've been poor and I've been upper/middle class. A comfy place to live, a good woman, low stress and good music will do me fine.

[@DoingItCheap]

Double check and you will find that you can apply online up to 120 days before you turn 62. How do you figure you are losing $500 ?

[@gsp49]

They are still going to make you wait a month and a half after your birthday regardless of how early you put in for it.

[@cal14th]

Both of my parents passed at 65. I'm 29 now and fully expect SS not to be around in 33 years, but if it is I'm taking it at 62.

[@JoseOrtiz-im5wu]

To day is my wife's 62nd birthday. She gets her first check in June. We had the same talk a few months back . You are absolutely correct. She can work and make a little over 17,000 dollars a year while collecting her SS check. I was planning on working till 70 but after finding out all this info , I am looking forward to my 62nd birthday.

[@magicdaveable]

I started collecting at 63. I gave up a couple hundred a month by not waiting but it is not a big deal. I raise ducks and chickens. I could have waited until 65 but figured the $1000 a month is enough to live on with a little extra here and there. I have a few people that buy eggs. Not that much but enough to keep gas in my pickup truck. I will be 70 next May and at this rate unless something strange happens I will be around until I am 80+ and living in a tipi in the woods with my ducks, chickens, and pigs. I won't starve that's for sure. Also I have been considering buying a really well designed wagon to live in with a pair of Belgian Mules to pull me down the road. No insurance or license plate needed.

[@michaelcorrothers8340]

Amen.

[@black0870]

Glad to hear your story, thank you for this great information. My father to Waited until he was 67 to receive his social security he passed away 6 months after receiving his 1st check. A bird in the hand is better than 2 in the Bush

[@martinknoerr8037]

Can't agree with you more. I'm 53, have heart problems, diabetic also. I will retire at 62 God willing. If need be I will get a part time job with less stress to make ends meet. Thanks for the great advice.

[@vixxcottage]

You have great points. My uncle could have retired @ 65 but waited until 67. Was playing baseball and dropped dead of a heart attack 5 minutes away from hospital. No guarantees in life. Worked all the overtime he could. No retirement enjoyment for him.

[@keithsclassicgarage1133]

I took mine at 62. Best decision ever! Work sucks! Life is good now. The gvt hopes you never collect a dime!

[@MrUfojunkiedavid]

It's not an entitlement. We paid into it

[@DoingItCheap]

When I read your comment, I said to myself.....I said "Self, this feller ain't too bright. I bet he isn't even bright enough to be one of my subscribers and I was right." Don't be leaving comments when you don't have a grasp of the English language. An entitlement is something we are owed because we DID pay for it and thus, are ENTITLED to it. A benefit is a freebie. Now go forth and multiply singularly.

[@vvaningen]

@@DoingItCheap , that was rough.

[@DoingItCheap]

You think that was rough ? You should hear me when people say I am LUCKY because I have a military retirement. Or I was LUCKY I had the GI Bill to go to college. Tell me how lucky my family and I was when I was doing tours in Iraq.

[@vvaningen]

@@DoingItCheap , I understand your point. My son is retired Army. You'd better believe he earned (is entitled to) every penny of his retirement! :) He was deployed to Afghanistan the second day of the war and spent most of his time in Iraq. Mom is just happy he's stateside and in one piece. I just think the previous poster didn't understand the definition of "entitlement".

[@dawnbonome9056]

He’s probably one of those DEMONRATS who supports giving it all to the ILLEGALS who work the system for their benefit, by taking money from us! Love ya pawpaw!💯❤️

[@Bradleysbalayage]

How big a boy are ya? I’m 62 and 6 weeks. Get my 1st check in a couple of weeks. I wasn’t sure until I watched this! Thank you Roy D. Mercer

[@jimt902]

Love Roy D Mercer!

[@paulhanson6008]

I took early retirement at 58 here in the UK.......life is unpredictable and the good health many enjoy today can be gone tomorrow....if circumstances permit, enjoy the here and now and be content with what you have. Better a long happy life of simplicity than one brought to an end early due to stressing over materialism! Peace:)

[@xzkt]

That is exactly why I went at 62. The other thing is the money you received retiring early will buy more now than it will years down the road due to inflation. I have been retired just over 4yrs and enjoying it very much. If you live within your means and plan ahead, you can live very comfortably on SS plus your pensions and or savings. Most people I know spend it as fast as they get it and don't worry about retirement until it is time to retire. If you retire and still have a mortgage payments, car payments and credit card bills it will be pretty rough to get by. You are a pretty smart fella. Phil

[@HypasMusic]

I was born in 1970 and a contract worker for 15 years. Mine said at age 62 = $900.00 Mo. and at age 65 = $ 1100.00 Mo. But the thing ( with all respect to your Dad. ) It's never planned for Us to collect every penny we worked hard for when it's time for relaxation the rest of our life because the government crooks alway's find a way to keep what is rightfully ours.

[@michaelwargo5702]

If you factor in the $130 for Medicaid you now won't have to pay and the addition of food stamps you can receive ...you now make the same or " more " then if you had waited ...my friend waited til 70 and pays Medicaid and not entitled to food stamps ....im 62 and have more than he has ....early retirement just all around makes sense ! Thank you for telling others the truth and saving them the heart ache and poverty of waiting ....enjoy your tomatoes , im waiting on mine til next year ...lol

[@1caramarie]

I've been getting my money for the last 9 years and 5 months. I can live on what I get, because I cut down of stuff I did not need and turned my hobby of growing flowers, into growing vegetables and all kinds of fruits. My health is much better because I do not used any kind of chemicals. And my happiness level went up the roof. Not working for idiots, with idiots is more than worth it.

[@db5038]

"Not working for idiots, with idiots is more than worth it." Great quote!

[@FrankGreenway]

I’m taking mine as soon as I can start. It’s my money and I want it back!

[@Bertaboop1955]

I was unable to work past 61 and have been on SS for 2 years now. Your perspective has made me feel so much better about having taken a smaller amount for a longer period of time. Thanks for that.

[@DoingItCheap]

Thank you for watching !

[@wa3186]

I have never heard anyone say, "I should have worked longer." I retired at 62 and enjoyed traveling and doing what I wanted to do. I've never regretted it. I'm now 88 and really happy about it. Losing my drivers license due to poor vision was hard.