Collecting Social Security at 62, there is a special rule nobody talks about. Good news! 

[@SarasotaTim]

Please Read: Correction to my video re: If you elect to cancel your Social Security the first year you must pay back everything you received. Canceling is very seldom done past a few payments. This option is only available the first year you start drawing. 😎

[@Skiskiski]

What? So you are saying, if you start receiving payments, and then you realized you were not ready to get your S S, you have to pay back those payments you have received? Got you!

[@user-yj3ob9kd3l]

​@Skiskiski yes!! You have 12 months to withdraw your SS application, but you must return everything you received. I did that and it took the SSA more than 18 months to send me a letter with the amount that I needed to return. 🤦🏻‍♀️

[@cmo_rocks]

How are poor old broke people getting funerals covered without becoming a burden to family financially? Please make a video. I don't want that set back.

[@user-yj3ob9kd3l]

@@cmo_rocks insurance?

[@cmo_rocks]

@@user-yj3ob9kd3l I doubt they have enough

[@specs002]

I still don't understand why they have a limit on what you can make to live on its not welfare its what you paid into your whole working life.

[@islandboy7432]

I agree my friend....it's OUR money

[@MikeM-x6c]

Because they need more money for the illegal scumbags!

[@michaeljacoby6516]

Exactly!! I started collecting at 62 & 8 months. They held back 5 checks because of my income. It should not matter if you’re still working, I paid into SS for 44 years and still am. SS is still taken out of my paycheck.

[@tonyclams1955]

They want to discourage you from taking your money as early as you can.....

[@codis1625]

Because theres no Social Security money. They just keep selling Bonds. Its probably been gone 20 years. TRUMP 2024

[@SpanishAngel36]

I've had cancer 3 times in a 5 year period. I'm retring now at 62. Got all my debt paid off. Ready to enjoy life.

[@tatialo37]

God bless you and hope you get better soon!!!

[@GawgaCracka]

May God Bless You Ma'am.

[@SpanishAngel36]

Thank you I'm in good health now. And planning on enjoying retirement.

[@glennpesti6519]

God bless you

[@jeeveswinston2545]

Nice to hear that. Enjoy life.

[@EliaszPass]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

[@ClarieZwiehoff]

I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes...

[@EliaszPass]

@@ClarieZwiehoff That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well..

[@ClarieZwiehoff]

@@EliaszPass My advisor is *MARGARET MOLLI ALVEY*

[@ClarieZwiehoff]

You can look her up online

[@FlorentGulliver]

@@ClarieZwiehoff The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?

[@garygrandadam7849]

Retirement. Best job I ever had.

[@robertdelreal7204]

Your job now is walking to the mailbox to get that bank statement. Nice 👌

[@deedee77777]

6 Saturdays and 1 Sunday.

[@visualverbs]

I retired at 62 and have never regretted it.

[@austinbar]

I am in my early 60s and retired at 53. Lots of people gave me pushback because they had difficulty grasping the concept of not working if you don’t have to. I looked at my life as stages. I earned everything I have now through a lot of hard work, but I owe it to myself to “stop and smell the roses” in my final stage of life. In my case I left the country after I retired and live in Latin America. It allowed me to get away from all the negative things happening in America while appreciating my new environment. I have yet to meet anyone who regrets retirement.

[@eloign7147]

Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.

[@joshbarney114]

This is true. I'm in my mid 40's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.

[@rogerwheelers4322]

I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.

[@FabioOdelega876]

I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.

[@rogerwheelers4322]

I definitely share your sentiment about these firms. Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@FernandoBowen-78]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for...

[@MayaPaisley-]

I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes...

[@FernandoBowen-78]

@@MayaPaisley- That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well

[@MayaPaisley-]

@@FernandoBowen-78 My advisor is VICTORIA CARMEN SANTAELLA;

[@MayaPaisley-]

You can look her up online

[@FlorentGulliver]

@@MayaPaisley- The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?

[@LTV_inc]

I retired at 52. My wife was 57. We traveled around the great west in our Pleasureway camper bought a smaller house and enjoyed life. Used our deferred comp and my State pension until we started collecting our 401k’s at 58 1/2, Collected SSI at 62. My wife got pancreatic cancer and died last year, if I would have worked until 65 we never would have had that time. It’s all about how you do it. I’m glad. 😊

[@sheriturner6118]

So sorry for your loss. Glad you had that small amount of time to travel, enjoy life making memories.

[@jatteam8615]

Sorry for loss. 🙏 you did it right for sure! 👍

[@BrandonTran]

Wow this hit hard. Sorry for your loss. I’m trying to resist optimizing social security. It seems more important to live your life and draw at 62 regardless of what it is. Thanks for your story

[@strengthmuscle5529]

Sorry for your loss sir...

[@jdavis9990]

I am so very sorry for the loss of your wife. So happy for you that you made the decision to make memories with her instead of just working until full retirement age. ❤

[@JohnMonks-sb3bj]

I retired at 62.3, last March 2023. I have NO mortgage, NO car payment, NO cc debt! I was working with guy's in their 70's who were slaves to their mortgage! I look at it this way, I have 20 years of vacation ahead of me! I worked for corporate America for 47 years, time for some ME time!

[@solskengroupllp2758]

Until you are diagnosed with cancer 14 months from now.

[@raythackeritsbillwardsingi8504]

​@@solskengroupllp2758u suck!

[@chellejack3480]

​@@solskengroupllp2758Ugh... Yeah, those horror stories do seem to happen

[@lethargicmotorsport2025]

@@solskengroupllp2758having a mortgage won’t effect the diagnosis.

[@auberjean6873]

@@JohnMonks-sb3bj Thank goodness you're still in good shape enough to enjoy it! May you have a wonderful rest of your life!

[@karlfowler3742]

It's sad when they tell you that Social Security isn't meant for you to live on and then Limit how much income you can earn and still draw Social Security. It just doesn't make sense.

[@jeffsimpson203]

Then don't claim before 67

[@TheTamrock2007]

It's terrible honestly. This is money we earned, not a handout. Limits on income is criminal.

[@guyjoslin7682]

Yes it's wrong

[@John-br5fd]

END THE POLITICIAN WORSHIPING SYSTEM. THATS THE ANSWER🎉

[@kathycuster1714]

It's the government, nothing they do makes sense!

[@Fishpig65]

I retired at 57 after 33 yrs of trucking. Zero debt is freedom. Live within your means.

[@roytaylor2803]

Exactly! Everyone is complaining they can pay the bills we’ll stop maxxing out credit cards and stop going out to eat and vacations all the time! If you think smart you can be debt free!!!!!

[@Machria23]

YEP! I know people in debt complaining about money all the time and still working and bitching about it.

[@RandallDHoffman]

I’m 61, thinking of taking SS at 62, get the money as soon as possible, no one is promised tomorrow. Waiting until 67 for a larger check is a gamble. It’s not thinking about yourself, if you’ve worked as many years as I have you deserve it. Better to be retired and live within your means instead of tired working hard and not having good health or time to enjoy your remaining time even if you have more money. Your time is limited and more valuable than money.

[@ks77728]

Thank you for saying this. I'll be turning 62 in Dec. I've worked since a teenager at 16. I had dropped out of the workforce several years ago to be a full-time caregiver to my elderly parents. My dad passed in 2021 and my mom is now in a nursing home. I went back into the workforce in 2021. I'm tired, exhausted, and my physical and mental health is poor. I've seriously been thinking of retiring early. 😢

[@cashcreators]

@@ks77728 God bless you for taking care of your parents. We need more like you!

[@nocmagic]

One way to look at it, the longer you wait the more money you’ll “leave on the table.” When I went in, the guy showed me how much I’d lose if I waited, I said oh no, sign me up right now! It’s our money, take it asap!

[@virginiaholloway2710]

Me too 😁

[@Aurorachaser64]

I retired at 62 and haven’t looked back!

[@CameronFussner]

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k.

[@CharlesArthur-fq5sx]

This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.

[@williamDonaldson432]

Its unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $287k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.

[@foreverlaura-fq4eu]

@@williamDonaldson432 Could you kindly elaborate on the advisor's background and qualifications?

[@williamDonaldson432]

I won't pretend to know everything, though. Her name is Annette Marie Holt but I won't say anything more. Most likely, you can find her basic information online; you are welcome to do further study.

[@Franklin-gq4si]

@@williamDonaldson432 Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.

[@Richardcarlett]

Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.

[@ilyaveysman.]

True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.

[@AbdoolLogodesign]

Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.

[@AbdoolLogodesign]

I encountered Julie Anne Hoover through my wife, and I emailed her. She is guiding me. Since then, she has given me chances to buy and sell the stocks in which I'm interested in. You can hunt her up online if you require care supervision.

[@Jessicahensley.]

@@AbdoolLogodesign I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look Julie up and send her a message. You've truly motivated me. God's blessings on you.

[@ForGodsGlory70]

@@Jessicahensley. Beware these are often a scam. Never get a referral for a financial advisor from a stranger on the internet. Get a referral from someone you know face to face. Church, local BNI group, Meetup. I hope you have not already been scammed.

[@Hannahbenowitz]

Wow, filing for Social Security at 62? Bold move! But hey, I’ve got $125k in my emergency fund, itching to start making me some money. Honestly, I'm torn between playing it safe or just diving in. Who knew deciding when to start would be the easy part, right? Time to make that cash work for me, not the other way around!

[@bartlyAD]

Haha, I hear you! But don’t just dive in headfirst-trust me, I tried that. Before you start playing with your $125k, maybe consider getting some advice? I had a financial advisor who saved me from a few bad decisions. You’d be surprised how much a pro can help, especially when you’re just starting out!

[@HildaBennet]

Haha, I hear you! But don’t just dive in headfirst-trust me, I tried that. Before you start playing with your $125k, maybe consider getting some advice? I had a financial advisor who saved me from a few bad decisions. You’d be surprised how much a pro can help, especially when you’re just starting out!

[@bartlyAD]

There are a handful of CFAs. I've experimented with a few over the past years, but I've stuck with ‘Rebecca Noblett Roberts’ for some years now, and her performance has been consistently impressive. She’s known in her field, look her up.

[@HildaBennet]

Just looked her up, and she seems like exactly what I need to finally get my finances on track. Thanks for the tip!

[@kevinkenney-m5b]

I’m not sure why filing at 62 is a bold move? The math favors taking SS as early as possible. It only makes sense financially to wait until full retirement age if you hit 74 I believe then it starts paying off waiting.. but this assumes you live until 90.

[@johnpence8529]

I retired 20 years ago at 59 1/2 and have never regreted it. No desire to work a job since then. Best thing I ever did. Nice being able to do what I want and when I want. Wife of 42 years passed away and I took off for a 3 month trip to Alaska and Canada in my pickup and truck camper That was my dream trip that I had always wanted to do. Life is interesting for sure.

[@silkscreenart5515]

You are not Tony Bennet.

[@cl5080]

@@silkscreenart5515 And?

[@dabear2438]

@@silkscreenart5515 Neither are you... 🙄

[@thatguy8005]

I thought you were like me… I retired 20 years ago… I’m now 59 1/2.

[@yellowdog4469]

@@silkscreenart5515 Stay off the internet when your drunk

[@michaelstevens1027]

I took a buyout into retirement at 58. I started receiving my SS at 62. No regrets because I paid into it for over 40 years and I want my money. It’s not an “entitlement “ as some politicians would have you believe. I earned it, paid into it and I will draw it.

[@davidharris4030]

💯

[@dknowles60]

YEA some people have paid in 400k most people will have to live to age 85 to break even

[@victorgokey8996]

Amen to that, it's our money not theirs!

[@debiperkins]

Guess that I am just one of the lucky ones.😢

[@vortexgen1]

This is an entitlement, because we have paid into this. This is our money and we are entitled to it. We own and are owed this money.

[@orbs1062]

I'm very fortunate. I retired at 56. Everything i own is paid for. I'm 62.7 now. I can make it with no effort to 67. Next year I'll live off the interest i earned this year - if needed. I enjoy not working.

[@mikeyis009]

Bingo!!! Great job

[@hobo1452]

I retired ten years ago at 62 and started collecting SS right away. My reasoning was simple. The government has had their hand in my wallet my entire working life. I wanted to start recouping some of that money just as early and for just as long as I could. People need to realize that our government never does anything for us that doesn't somehow benefit them more than us. They encourage you to wait until 65, and preferably even longer because it's a gamble they are willing to take with your life. Even with the current longevity estimates, the odds are in their favor that the longer you wait to collect, the better chance you have of dying and that translates to a shorter time span for them to have to pay you back. Your government is counting on the carrot they are dangling on SS stick to last longer than you do.

[@buckkw5108]

Did you have to wait 2 months after turning 62 ?

[@hobo1452]

@@buckkw5108I honestly don't know if that's required by SS. It was at least a month or two after I retired before I went on line to the SS website and set up my account to start my payments. It was really easy and the payments started showing up in my checking account in a very short time, about another month or so. I didn't even have to report to the local SS office or anything.

[@judigrumm7190]

Exactly. Government is NOT here to help!

[@sherrybeauberry]

@@judigrumm7190 well in this case, social security income is the topic of discussion, so I guess the government CAN and HAS done something to help. If the Social Security Act had not been established in 1935 by the FDR Administration, specifically so older Americans could live with dignity into their old age and not be destined for poverty or to work until they drop, we'd be having a very different discussion. And then medicare became law in 1965 as a further safety net to older Americans, so that's at least twice the government has done something to help. And then another biggie - the Affordable Care Act (Obamacare) became law in 2010, helping secure access to affordable health insurance for Americans in a variety of circumstances, e.g. self-employed, lower and middle income earners, etc., which also helps many Americans avoid medical bankruptcy because they can actually afford health insurance and to seek care when they need it. These are HUGE helps to so many Americans and I for one am thankful for all of them!!!

[@johnmoore6853]

What did you do about medical insurance between age 62 and 65? Also different people have different circumstances. They may have others depending on them, like kids still in college and can't afford to retire at 62. It's fine that you could retire at 62. But it's not a one-size-fits-all

[@stevedawson3863]

Best decision I ever made retired at 62. I still worked. Made only what I was aloud to make. All debt was done years ago. Still working at 68 years old just because I love what I do. Never had to touch my soc sec yet. It's great feeling to have financial freedom!! Take the money at 62 if you can!!!

[@lailaalfaddil7389]

This is financial advice and I never give financial advice: DONT LEAVE DURING THE BEAR. If you don’t want to invest…learn. If you don’t want to learn…build. If you don’t want to build observe. DO SOMETHING…other than leave. There is so much opportunity here. Take advantage!

[@susannnico]

Just because there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional.

[@darrylhubbard1202]

What does that mean ?

[@dalepasswaters4898]

I took it at 62 I’m now 72 no regrets . Tomorrow is guaranteed to no one many friend’s coworkers did before or shortly after retirement and got none of their money back. I’ve been collecting for ten yrs now and hope to be around a good bit longer till I get it all back .

[@melissasprayberry5047]

What did you do for health insurance at 62?

[@Mr05Chuck]

I turn 70 in a couple months and I waited. Here is why. I retired at 55 from the Teamsters. My wife started collecting at 64. When we went down to apply for her the guy asked when I was born. I said 1953. Since my wife was born in 55 he signed me up to collect half of her SS. So for the past 4+ years I have let mine ride and collected a 1000$ per month. This will allow my wife to take my higher check if I die first as my pension will go away. We haven’t touched her million+ 401k. My family has good genetics and many live into their 100s. So in my case it was a no brainer to wait till 70. House has been paid off for 20 years. No bills but taxes and insurance. Retired for 18 years. Plus soon I will get another monthly check? Plus, my wife of 43 years is still hot as hell? I’m truly blessed.

[@cindyandress2285]

What a nice compliment. Every man needs to act like you.

[@rickcormier9160]

Similar for me. My wife is 5 years younger than me and makes over 200k per year. I will have money coming in from 3 sources, but by waiting until 70 I will make over 30k per year more which will allow us to better maintain our lifestyle.

[@PSCA1988]

Are you asking us if your nearly 70 year old wife is hot as hell?

[@adjuster57]

Ya see. Your thinking of others, such as your wife. Sarasota Tim is only thinking of himself and that’s why he is single living in a trailer. I also have done well with investing, can easily afford to do anything in life. Also waiting until I’m 70 take SS. The long I wait, the more money my wife gets when I pass.

[@debpetty4011]

But you're giving away the money from age 62 to 70 you'll never see

[@ricsmith2185]

I turn 62 in 6 months and I will be taking my Social Security on day one... thanks for the very informational videos!

[@edrodgers4581]

You will regret this decision.

[@ricsmith2185]

@@edrodgers4581 respectfully, you don't know anything about my situation or how much money I have or how much I'm going to make. Thanks again for your thoughts tho!

[@lindagoodwin3908]

Why is 62 seem to be the age many are going for?

[@johnmellyn2700]

@@lindagoodwin3908 I believe that’s the earliest age you can start receiving it

[@kristywhited8857]

I did the math some time ago using age 80 as estimated life expectancy. So, draw at 62 means 18 years of $X per year and draw at 67 means 13 years of $Y per year. Yes, the overall amount of drawing for 18 years was less in total, but not by a whole lot. It didn't appear to be a "life-changing" amount of money to me. If I wait, and pass away at 67, I get nothing. And if I only live to 70? Well, this is a no-brainer for me. I'll take the 75%. Get it while I can.

[@Dbb27]

What if you live until you’re 90?

[@Ugot2BkddnMe]

and, for those who say "i don't need the money", then invest all SS proceeds into a 4% CD and the breakeven point becomes, at a minimum, 23 years to "break even"

[@stephendickinson4647]

Did the same as you..and no regrets! …worked in healthcare and seen what can happen anytime to one’s health

[@celesteg-g2684]

My coworker passed away the week she was to start collecting SSA, all her family got was her death benefit. Take your retirement when you are ready. You’ll get something.

[@DonaldMains]

It's not 23 years, it's 18 years. It's ok to collect SS at 62, but don't give bad info out. @@Ugot2BkddnMe

[@Gypsy964]

I retired at 54; sold everything I owned & bought a van & started traveling!! love life! after working 20 years in nursing homes & the rest in factories when the covid hit I quit going in to work, as I was not going to submit to wearing a mask all day in a factory, now I work part time & travel!!! I am now 59 & can't wait to draw my ssi!!

[@heygrl]

My dream❤

[@mustafahamsho5310]

What is your part time work now? Can you say?

[@SarasotaTim]

@mustafahamsho5310 KZbin 😎

[@zeemc2751]

I've been thinking about buying a van or a RV, for the past year. I'm near retirement age, no bills hanging over my head, nothing. I just have to make a decision on whether I want to travel the U.S. or travel the world. Right now I'm leaning towards the world 👍🌍.

[@Gypsy964]

@@mustafahamsho5310door dash

[@antoniobrown224]

Thank you for the information. I am 55, and I have spent the past nine years getting educated about Social Security. Back in 2006, a gentleman told me that once I became 62 to collect my SS. One of my old coworkers told me that his dad waited the maximum age and died before receiving his first SS check. I will most definitely stick to my plan and get my SS before my 63rd birthday.

[@Eli-qr9hc]

Same boat. 62 as of august 2023. Thinking of retiring at now or 63-ish

[@xoxxobob61]

My Dad was 62 and born in October and was set to collect his first Social Security check in January of the following year. He never made it cause he had a massive Stroke 2 days after Christmas and died on January 5th. We had to return his check to SS Office.

[@jeffjeff4477]

59 Planning on 62 to start collecting

[@lorenscalf56]

I am in same lock step. I walked at 60. Had no bills new paid off car beat up Ole truck. Had my full pension. Then my SS. Best thing I ever did

[@frankaguilar6860]

What about medical???

[@islandboy7432]

I retired at 57 with my full pension after 32 years in the transportation business ....I'm grateful to jesus and waiting to hit 62 to collect social security...praise Jesus!

[@Calichick67]

Congrats! I'm 57 and retired last Dec. I will collect SS when I turn 62, I can't wait

[@SonicMegaUltra1234]

I retired from the navy in 07. At 62 I'm taking SS. Does my navy retirement count against me when I draw SS?

[@islandboy7432]

@SonicMegaUltra1234 it shouldn't.....i have my UPS pension but not old enough yet to get SS

[@gayle2276]

Any 401 or alimony counts as income. Be careful not to go over the amount allowed. Double check with Social Security.

[@franklee2683]

​@@SonicMegaUltra1234 no. Only EARNED income,not retirement income. You're good.

[@dennissvitak5475]

I retired at 61. It's been six years, and I haven't touched my nest egg. We live simply, and within our means, which is how my wife and I lived our entire lives.

[@Garminrules]

Right there with ya!

[@Laflower60]

Me n mines too💯✌🏽

[@bruceharding723]

Well... you better start touching your nest egg... because it's ALL GOING TO BECOME ROTTEN EGGS!!!... Wake the Fuck Up... GodblessU 😇🙏 😎

[@bjgrayson6755]

I’m 55yrs old. These comments and stories confirm. I need to retire at 62…👀🤔…thank you for the video and others sharing…..

[@RealGCNow]

Same here.

[@Juju-wk7yv]

I took my SS at 62. Longevity is not in my family.

[@brianwells1335]

Mine niether

[@peternorthrup6274]

I was born in 59. The day I turned 62 I started SS. Been at it since I was 13. Retired at 55. It was always the plan. $2343.00. SS. That gives you an idea of how much overtime I worked during my career. Some people at 62 don't receive a fraction of what I get. Believe me. I was done working. Good luck.

[@jpaul4788]

I received my ssi statement, 2022 I was 59 than , my estimate is $2400 at 62 , but I’m planning to go till end of 2026, so ssi told me my funds be higher, main reason is medical , here in California is not cheap ,I just got home , cause I also worked a lot lot of overtime

[@peternorthrup6274]

Paul. I can see with that number I agree you and I worked alot. It really made a difference. People don't realize till its to late. I remember the days when sat and sun was double time. I worked it all. For a guy that never went to college I did ok. Sounds like you did to. At 55 believe me I was done. Get out as soon as you can. Good luck.

[@susanrichardson3220]

although I started woorking when I was 16 and didnt start teaching until I was 40 the Windfall Elimination Provision passed in 2003 takes 50% of my SS because I receive a small $1100 pension from teaching for 15 years...talked about getting skrewed...

[@mmane257]

i did the same thing.worked as much O/T that i was given.and it made a difference in my SS payments.

[@ravensrun6117]

Well hats off to your goal met but I worked a lot of overtime when I worked at a F-500 and just did not see that pan out but it was only for 5 yrs.

[@GhanYt]

Because of dividends, I first began investing in stocks. It's important, in my opinion, to be able to live off of dividends without selling if you invest and make other income in addition to payouts. It suggests that you may pass that down to your kids and give them a leg up in life. Over the years, I've invested over $600k in dividend stocks; I continue to buy more today and will keep doing so until the price drops even further.

[@bahijarhafiri]

I wholeheartedly concur, which is why I appreciate giving an investment coach the power of decision-making. Given their specialized expertise and education, as well as the fact that each and every one of their skills is centered on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavorable developments, it is practically impossible for them to underperform. I have made over 1.5 million dollars working with an investment coach for more than two years.

[@bahijarhafiri]

Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. "Jenny Pamogas Canaya is accountable for the success of my portfolio, and I believe she has the qualifications and expertise to accomplish your objectives.

[@jmm1817]

​@bahijarshafiri scam

[@miket7184]

@@bahijarhafiri Spammer

[@richardthomas6364]

AMEN BROTHER, WE DON'T KNOW WHEN GOD IS GOING TO CALL US HOME, I AGREE WITH YOU 100 %

[@beckysmith9730]

I will be 62 in Jan 2024. My hubby is disabled and I am his caregiver. This video convinced me I need to apply for SS soon. I believe you have just changed my life Tim. Thank you!!

[@angelasmith257]

I’m in the same boat..think I’ll take it! Even though might not be a whole lot I’ve been a caregiver for the last 1O yrs so haven’t worked unfortunately..

[@marieregis9491]

Hi Tim, just found your station!❤ thank you so much for this! I’ve been going back and forth in my head about retirement at 62! I’m doing it!🙏🍾

[@Tom-sg4iv]

I was lucky to retire at 42 with hard work and good investments. It’s been three years, and I don’t miss work one bit. Enjoying my life going to the beach with the old folks in the morning, shopping when the stores aren’t crowded, taking a siesta, plenty time for my hobbies and just enjoying life. Retire as early as possible, you don’t know how many good years you have left.

[@pauledwards5607]

what if SS is the only income you have?

[@fendermon]

@@pauledwards5607 Move someplace cheap.

[@Tom-sg4iv]

@@pauledwards5607 Hopefully you have your house paid off when you retire or enough savings to buy somewhere cheap as suggested, i.e. Fort Clark Springs or similar

[@johngatsby1473]

I did the same. I had 2 childcare centers that I hired great people to operate and I have a portfolio of rentals properties. I sold the centers and still have my properties and have done nothing but spent time with my wife and kids after my 2 hour mornings at Starbucks. Quite enjoyable

[@johngatsby1473]

@@pauledwards5607 moving someplace cheap is definitely your best bet because the Biden economy won't let you rent much in a big city.

[@Nicho-rf5ie]

I started collecting socsec a few months before 63rd bday. Covid had been raging for 4 months. It was magnificent to not have to deal with the additional asspains at a job. I do work my ass off at home, but that's just my way. Happy retirement to all!

[@MrEd-dc6mh]

I'm 61 now. Thanks for sharing this information. God bless you Sir!

[@SarasotaTim]

..and God Bless you to Mr Ed. Soon you’ll be getting yours 👍😎

[@silversleuth007]

I took my SS at 62. No regrets. I work 3 days out of the week for $15.50 an hour plus health insurance. When Medicare A kicks in soon, my company insurance will take the place of plan B or a supplemental. It's an easy gig, keeps me in shape, and gets me out of the house into the world.

[@MrHoustonismydog]

Can I ask what your job is? I will be 62 in October

[@silversleuth007]

@@MrHoustonismydog ... I work at remote collection sites accepting donated household goods.

[@silversleuth007]

@@MrHoustonismydog ... I work three days a week receiving donations of common household goods. I probably lift between 2-6000 pounds a week by hand. 1 to 50 pounds at a time, though. Lol

[@stefaniefulton8594]

I'm 59 and I'm planning on doing this as well! The way the world is going now though there may not be any social security left! 🤷

[@daralynx2]

Just don't earn more than $21,240 in a year. 50% penalty until 'full retirement' age.

[@jerrypeal653]

Retired at 62 with everything paid off almost 4 years ago and absolutely no regrets! Tomorrow isn’t guaranteed .

[@max41050]

Unfortunately, I eat healthy and have the energy of a 30 year old at 63, so my biggest concern is living to 100 lol 😂I'm not worried about dying, so I have to figure out if I should retire right now and work a part time job, because my PTN told me that as I get older, I will automatically get an increase and I'm allowed to work and make 20,000 net per year. So I should just apply in 3 months when I turn 64, and I'm doing more research. What I was told by my PTN sounds great, but is it really true? idk 🙁🤔

[@gingerkilkus]

The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.it's especially difficult for people who are retired.

[@hasede-lg9hj]

True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.

[@TomD226]

Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my portfolio this red season. I’ve made over $250k since then.

[@lowcostfresh2266]

@@TomD226 I’m in dire need of guidance so i can salvage my portfolio due to the massive dips and come up with better strategies. How can I reach this advisor?

[@TomD226]

@@lowcostfresh2266 Laurel Dell Sroufe is my adviser and she is highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@DarendBroksh]

@@lowcostfresh2266Found her, I wrote her an email and scheduled a call, hopefully she responds, I plan to start the year on a woodnote financially..

[@travelingdude1621]

As long as my health permits, I don’t plan to collect SS until age 70. If I wait until then, I’ll never have to do any work side hustles either for the rest of my life. In my opinion, retirement means you never have to work for money again. If somebody starts drawing SS but still has to work somewhere in side hustle gigs just to make it, that person is not retired at all. Everybody has their own opinion on these things. 👌🏻

[@commonsenseisntcommon1776]

What if you drop dead from a heart attack that hits out of no where at 69?? It happens.

[@dennistyler9852]

I don’t think working 2 days a week at 6 hours is the same as 5/6 days a week at 8-10 hours.

[@Lulusvideos1]

Retirement is different for everyone. Some people enjoy working, they just don’t want to work the 8-5, 40+ hour a week micromanaging job they’ve been working for years.

[@LynneC44]

I love working...not collecting until 70.

[@AKGUY47]

I am on the same plan. Retiring at 70, I am currently 62 as of April. My wife passed away 2 months ago. Working and being around people keeps me going. Also blessed with a high paying job doesn't hurt.

[@itsamysticlife3500]

We're not guaranteed tomorrow, believe me. Hubby and I worked to get out of debt and set up our "happily ever after" life. We both took SS at 62 and were enjoying our retirement on our little farm. We were active in building our structures, making growing needs, planting gardens, caring for animals, and working with neighbors to make everything in our area better and happier. This past July 4th weekend (2024) hubby passed in his sleep, 2 1/2 months before he would have been 65. If he had waited, he wouldn't have been drawing his money. A lady with the SSI office said that because we were both drawing, I'd be passed it would make it easier and faster for me to get my widow's settlement. That simple and honest statement to my husband made him feel better about taking it early.

[@robinalecia7554]

Thank you Such a blessing to have this info . Taking at 62

[@dlhartley157]

Hey Tim! Great video and timely info. Here's a problem my wife and I almost ran into. I took early retirement at 62. She's 2 yrs. younger. She's a self-employed hairdresser (with a shop and various expenses). I was on her payroll until I reached 62. Then I retired. I then went back on her payroll once she started collecting SS at 62 because of the $1 penalty for each $2 earned. I earn a paycheck which she takes as a "wages" expense on her Schedule C. This in turn lowers her 'Net Income', also on Schedule C. And that's the amount the IRS use to calculate the penalty. So she doesn't incur a penalty on her SS benefits. Our 'Standard Deduction' is $27,700 (married, filing jointly) + I get an additional $1500 (for me being over 65). This has helped us keep from exceeding the $32,000 threshold so we don't pay any federal taxes on our combined SS benefits (which can be a separate problem altogether). Anyway, just thought I'd share this, hoping your viewers might benefit.

[@dennistyler9852]

That’s close to the limit to make Obamacare extremely affordable.

[@waylonmccrae3546]

Retired At 51 !! Started my Own Business, work my Own Hours, & Friggin' Loving It !! 😉👍🏻

[@TRONABORON]

🍻...👏🏼👏🏼👏🏼

[@TRONABORON]

🍻.....👏🏼👏🏼👏🏼

[@waylonmccrae3546]

@@TRONABORON T.Y. 😉👍🏻

[@lethargicmotorsport2025]

I did the same, I got myself completely debt free by the time I was 50 . Started a small remodeling business. Helps that my wife has really good insurance on the both of us.

[@waylonmccrae3546]

@@lethargicmotorsport2025 👈🙂 🙂👍🏻

[@johnshinn5325]

I agree! Take it at 62! If you do t need it take it anyway and save it! Because the X factor that no one can plan for is your expiration date! Do the math… the 62 horse gets a 5 year head start on the 67 horse. Money wise they meet up at almost 79 years of age! And if you don’t need the money til 67 take it at 62 invest it til 67 and this e 2 horses will break even around 84 years of age! So take ASAP

[@johnshinn5325]

@@Michael-Joseph123 hadn’t figured that in! I guess i need to re do the math! Thanks

[@FoundLamb]

You’re very helpful and have an easy to understand teaching style. I appreciate your video bc it’s really hard to understand things on my own at 50. But I’ll get it :) my goal is to retire at 62.

[@wandadavis8209]

Tim... I found your channel last year. I did it!!! I retired at 62... Received money starting this June. I do still have to work a PT job to supplement it. I cannot make over 1860$ extra. ( that they know about). 😊

[@debiconner6377]

I started drawing my social security when I was 62 and 8 months. I am now 67 and 1 month. I work 2 part time jobs, and for the first time in my life, I have enough money to live by myself on. I am just waiting for the bubble to burst and send me back.

[@GC-Hiker]

👍

[@user-WalleyeWI]

I will be 61 this year. I was planning to wait until 65 to begin SS but began dealing with health issues…early stage cancer, afib and diverticulosis/itis. After being healthy for most of my life, I realized that no one is promised a minimum of 78 years. I will cut back on working at 62, take SS, and start enjoying life more…before I can’t. My Dad worked hard and amassed a nice retirement nest egg that worked out well for my Mom… sadly, Dad passed away after only a short retirement. Lesson learned.

[@DianeLasek]

You've been the most helpful for me in making this decision!

[@bcuzicancuellar5478]

This is the second video I’ve watched and have learned more about my SS benefits than I have since turning 62 almost 4 years ago. Thanks Tim! Stay safe

[@larrrevenga49]

Thanks super great info I started collecting the second I turned 62 after 40 yrs as a construction trade electrician 😂 and never plan on working again been retired for 4 years. My wife however is going to collect at 62 but work one more year, so this was great information. Thank you.

[@MaximilianFischer497]

Social Security is important for many seniors, but it’s also crucial to plan for retirement with smart investments. Diversifying your investments helps grow wealth over time. It’s never too early to start saving and investing for a secure future. I'm 63 and my husband is 65. We’re both retired with over $3 million in net worth and no debt. We live frugally and earn monthly passive income, which makes our early retirement possible.

[@TicheDebb0]

Congrats on your early retirement! I’m looking for investment advice. Last year, I hesitated and missed the opportunity to invest, but this year, I’m determined to try something new and open to different ideas.

[@MarshalWagner457]

I'm very worried about the future and where we're all heading, especially in terms of money and how to get by. I'm considering making my first investment by diversifying but how can I do so given that the market has been in a mess for the majority of the year?

[@RowanBryson]

I’ve heard that good investment advisors can make a big difference. Can you share more information about your financial advisor?

[@MarshalWagner457]

“Sonya Lee Mitchell” is based in the U.S. but works with clients everywhere. You can find more info about her online.

[@EvelynBrooks0]

Thanks! I’ve been meaning to start investing but kept procrastinating. I’ll definitely look her up and see what she advises. This was really helpful!

[@LalaDM8]

Thank you, Tim. You dropped onto my feed today at the most perfect moment. I’m grateful for this vlog and your kindness to help us all. Will check out all your recommendations. Bless you, kind sir! 😌🙏

[@sman5877]

This man must be making thousands off this utube channel.

[@sylviayoung1547]

This came at the perfect time in my because I plan to start my SS in March of next year when I turn 62. I do plan to find part time work to help me out. I have worked since I was 16. The last two jobs I had I loved as receptionist at a veterinarian. They sold out to corporate and everything went to shit. I have now been unemployed almost 5 months and pray I find something to get me by until March and then maybe start cleaning houses for part time money. This video made me feel so much better about my decision. Thank you!!!!

[@ENVELOPEYOURDESIRE]

Good luck with everything praying that you find the best opportunity for you and that you enjoy your retirement when you’re ready!

[@DearMe247]

if you turn age 62 in 2023, your benefit would be about 30% lower than it would be at your full retirement age of 67.

[@sylviayoung1547]

@@DearMe247 I won't be 62 until 2024 and I want to live a little before I die. I know to many people that retire at 65 or 67 and died shortly after retirement. It's not for me. I will just trust in the Lord and find part time work to survive

[@jillw4983]

What does everyone do for healthcare before 65?

[@Dbb27]

@@sylviayoung1547 my $1,900 a month I started collecting at FRA would have been reduced to a little over $1,300. Are you going to clean houses if you are 87? Many die young but most women live into their eighties and nineties. I’ve met more women living hand to mouth than I care to count. Not a good situation.

[@harleydriverpdtnm3996]

Excellent video sir! Very informative! I’ll look into it and see what works best. Most of the guys I know are waiting until they hit 70 but I will have to look into the pros and cons of each. Again, thank you ENJOY LIFE!👊🏾

[@cityinthesky1341]

"...nobody is promised tomorrow..." powerful words. Most powerful moment for me in this video starts at around 12:00. Great advice!

[@jdelaney9325]

From the book of James.

[@titasmom678]

Good info. I listen to Dr. Ed Weir who used to run a SS office. He offers free info and answers questions during a Live Q& A almost daily. ❤

[@Mr.DsBackyard]

I am impressed by your ability to explain so nicely and making it so easy to follow. Thank you and excellent work.

[@justmesjw6228]

My husband retired last year at age 64 and started collecting SS. He worked 3.5 months last year. He was allowed to make 40,000 for the year based on married filing joint status for which he made 10k less. Upon filing income taxes this year, we received a charge back from SS for 2 months stating he exceeded the monthly income limit. They divided the total amount by 12 and determined that was the max per month you’re allowed to earn. So please be careful how much you earn per month to avoid having to repay SS.

[@gloryb-tv]

That's awful. In the year we start collecting SS, they should only "count" monthly income after the SS payment begins. They shouldn't count the annual amount. They don't make sense. Must be the "new math" they learned in school which removes logic.

[@Defenze]

@@gloryb-tv I was told this also. They count the entire year of income as the total amount they use to determine your benefit, yet I was not entitled to a benefit from SS until I turned 62 in July. How is that fair? It seems to me that you count accrued income from the month you are eligible for SS, not the entire freaking year. To me, that's just crazy stupid.

[@Satjr35031]

That is why it’s called the monthly earnings limit.

[@gloryb-tv]

@@Satjr35031 Keyword = Monthly. "Monthly earnings limit." Yet, they count the entire year - 12 months. So if you started your SS in your birthday month, which is November, and you retired at the end of October (meaning you earned from working for 10 months), they count the entire year's earnings? That's not monthly. That is annually.

[@CynthiaIvers]

SS doesn't count income before you were approved for the benefit. Any amount you husband made BEFORE SS approved his benefit doesn't count. If, in fact, SS went back and looked at income before his benefit was approved in making a calculation, then that was incorrect. SS only applies the monthly income limit AFTER you have been approved for SS benefits for that 1st year. All of this is on SS's webpage. Poster's husband must have exceeded the monthly cap in one of those months after being approved for SS. If he did that, SS looks back on his entire income for the part of the year before claiming SS. In other words, if you exceed the monthly income limit in the first year you claim SS (before FRA) after you're approved for benefits, SS will get you.

[@RandyPelletier]

Retirement is all I was looking forward to after working all my life but as time passed, I noticed it was all fairytale because I wasn't able to save as much as I thought I could until I started trading stocks. I retired with a 7 figure well-diversified portfolio just by investing in nothing sexier than index funds (401k/IRA) and blue chip stocks (IRA and taxable brokerage accounts). ever grateful to Trisha Jean Webb my F.A... Now house and cars all paid off and no other debt.

[@sarahkent898]

I started investing a little while ago and i've come to realise that nothing beats first hand experience.

[@CliffWarrensmith]

I did look up your FA and found her web page. she has a pretty decent bio, I wrote her and I'm waiting on her reply.

[@lucyAngletont]

that's quite impressive, you've surely made a good bit of money.

[@DaveM-FFB]

Congratulations. But you don't need a financial advisor to invest in an S&P index fund. Even if you know zero about mutual funds, a $15 book on "mutual funds for dummies" will provide more than enough information.

[@billakers6082]

After a long nasty expensive divorce in 2008 at the bottom of the market, I took everything I had and invested in FAANG stocks. When I was forced to retire in 2019 it grew 10 times what it was in 2008.

[@TerriKussart]

I worked till 68 started SS at 67. I enjoy the time off to garden &, read. My husband retired at 62 loves it. This fall I am going to work 3 days this school year as an online therapist just to keep my mind fresh and I like the extra income. Everyone knows their limit and abilities.

[@ron3676]

Thanks Tim,,,,I am retiring at 64,,,,that's 3months from now. FREEDOM,,,,VICTORY.

[@Todd_Monson]

I’m 61 and would love to retire at 62. Health insurance is what’s holding me back.

[@shawnagunn9054]

Why? The elite own the universities, ama, big pharma. They no longer look for cures they treat symptoms. If you take their way to health care you will surely not lifelong after retirement. Stay off meds and out of doctors office. Eat right, excerise and look up Dr. ROBERT Morse on you tube. He'll sh9w you how to get off meds and be really healthy naturally. I have Lyme and the medical community almost k8lled me.

[@gma2301]

I stopped working at 59 and took early retirement at 62. I was able to qualify for ACA. I worried about the same thing.

[@debbissonette87]

​@gma2301 what is aca?

[@gma2301]

@@debbissonette87 Afordable care Act

[@gratitudetouniverse3754]

@@gma2301 How much is the affordable care act insurance ? How about dental insurance ? Thanks for information.

[@glennalan]

Such a great video and so helpful! Turning 62 in June and I am going to collect. Thank you so much for the numbers you have calculated. Just subscribed. Thanks again and God bless

[@lorent4998]

I am looking at an 8 x 17 ice castle fishing camper. I enjoy time on the ice and have to pay nothing to park on ice. I have a mobile home on a resort lot open 7 months out of the year, with a $1300.00 yearly lot rent. That leaves me 3 months I will spend on my friends remote lot or traveling south. I will do some fishing guiding. 18 months till I can collect.

[@teresaellis895]

Hubby retired at 62 after working at Toyota 21 years and Army 21 years.Our 401k isn't much but with army retirement and his SS and mine next year we should be ok..No debt.If he passes first...I will loose alot of his pension ..but should be ok..We will see.His body was shot.

[@GC-Hiker]

👍

[@stevewise1656]

Prior to Reagan, Social Security wasn't taxed nor were their income restrictions.

[@NicholasBall130]

I’ve been working and paying into Social Security for over 40 years, and there’s no way I’m waiting any longer to take it. I’m grabbing it early-might as well take the sure thing. At this point, I’m all about investing in myself and putting money into the market. Over the years, I’ve learned that building real wealth comes from making smart investments.

[@cowell621]

Yes, building wealth comes from making smart investments. Having a mentor is really important. It can be tough to find someone experienced, but it’s a wise decision if you're not familiar with the market.

[@StacieBMui]

Congrats on your early retirement! I’m looking for investment advice. Last year, I hesitated and missed the opportunity to invest, but this year, I’m determined to try something new and open to different ideas.

[@cowell621]

Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.

[@StocksWolf752]

Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve my financial goals.

[@cowell621]

I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Rebecca Nassar Dunne turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.

[@djkilpatrick5256]

I’m only 34, but think about retirement often. I keep telling the wife once the kids graduate high school, we’re selling everything and downsizing to good ol west va. Life is too short to be working 10/12 hour days 6 days a week in an automotive manufacturing plant

[@KevinSaelak]

Very good advise thank you Tim

[@raynic1173]

A few years ago I crunch the numbers between collecting at 62 or waiting until 67 +. The break even point, when comparing just the SSA checks, was just short of age 89. After that the larger check was quite beneficial. So in the 90 to 100 years you'd be better off. But for the prior 2 decades the earlier payout was the better option. I elected to wait until 64, where the SSA check would cover my basic living expenses and any other income would all be gravy.

[@Realman773]

So you think 64 is the best age to retire then?

[@raynic1173]

@@Realman773 I can only say what worked for me. I am by NO means an expert in these matters. I can only say what I found. Plus, everyone's going to have different numbers in SSA, housing, living and health expenses, depending on your work history and life style. I will agree with the video author though, having your major expenses sorted out prior to retiring seems like the smart thing to do. I'm currently running into major dental expenses and may have to go back to work to get that paid for...

[@Realman773]

@@raynic1173 For sure, everybody situation is unique.

[@FindingGod365]

Very helpful analysis. If I understand correctly its better to take sooner if you do not anticipate living past age 89. Is that correct?

[@dottjohnson2232]

I did the exact same thing. My husband is 10 years older than me. I made an excel sheet comparing all the options…if he retires at 62 - 67 and same for me…and you are right. It only makes sense to wait to retire if you’re confident you will live an active life when you are 88-100 years old. So, take your SS as soon as you are able financially be ok

[@cyndimanka]

I had a weird situation. I filed at 62 for Social Security. I never heard a word back. I waited and waited and waited and finally about 10 months in I decided to log onto the social security system website to see what was the situation maybe I could email them or some thing to find out what was taking so long. Turns out all I needed was one document to get my Social Security and I did not know that. It went through quickly and I even got retroactive. They cut me a check for over $6000 because I had already registered and filed. It was the craziest thing I had my check in stalled in my bank in three days after that. Another reason I am glad that I got my Social Security three years ago is that now I’m 65 and on Medicare and I was automatically put in the Medicare system. All I need to do now evidently is get some supplemental insurance.

[@eelecurb]

You waited 10 months before you even asked if they had everything they needed?

[@kent7525]

Great info bro i turn 63 this yr i am taking it this year Self employed.

[@ebb9759]

I am 51 and have decided to retire when I get 60. I might not get the full amount but I am okay with that. The most important thing is spend the remaining years of my life enjoying the time I have left.

[@darlenemckinney567]

You can’t collect SS till 62.

[@cluckieschickens]

I don't think you can collect until you are 62?

[@Slipnslide222]

Great Vid. Thank you for that " human touch"' / go out and live' near the end of your stream - I loved it!

[@kde2610]

Amen! No one knows when our time on Earth will be over.

[@casienwhey]

Really good life advice Tim. You are a wise man. People should carefully listen to what you have to say. I did.

[@luannd62]

I’ll be 62 in February next year and want desperately to retire and start collecting. Thank you for the information and boost of confidence to forge ahead!

[@justadbeer]

DO IT!! - I retired from the trades at 62 in January and haven't had a bad day since. You will be surprised at how little money you need

[@skibee421]

@@justadbeer i collect 765.-- impossible for most. live alone, paid off house & car. it's an 88 chevy. wonderful car. have all i need. i started at 62 yet have been planning on this for yrs. made sure i don't owe anything. after 65 i got my property tax lowered to around $250. house worth $60,000. i'm totally in, no regrets. best wishes everyone & happy halloween~*

[@josephcarioggia9506]

I'm right behind you in March..

[@TheSilverLakeSteve]

The only reason I waited until after 62, was my health insurance was work-sponsored. I have no idea how people afford insurance before Medicare kicks in, if they are only on SS

[@silkscreenart5515]

Your statement was the most honest one on this thread. Thank you.

[@marypino3125]

I started collecting at 62 bc life is short! Thank you Tim for saying what you can make on SS. My hubby is on SS as well. We live under our means. Luckily he’s a McGuyver so he can fix anything and our house is paid off. We have one 2020 car the rest are 1972 before computers. Hubby rebuilds old cars so I’m blessed beyond! I was raised to be frugal so we are doing ok but inflation is killing us. I’ll be getting a part time job soon and good to know I can make $20,000 a year without a penalty. Thank you. Y’all be blessed!

[@melissasprayberry5047]

What do you do for health insurance? I don’t know how ppl do it when you can’t get Medicare until 65. Thanks !

[@marypino3125]

Healthcare.gov. Hubby is on Medicare but I’m not. I got affordable insurance thru healthcare.gov

[@marypino3125]

@@melissasprayberry5047 Heathcare.gov

[@dennistyler9852]

@@melissasprayberry5047 Research Obamacare. It’s affordable if you keep your earnings low enough.

[@maxinemaass1406]

Good advice! I retired at 63 1/2 last year (in May). I made roughly $27k as a self employed person. After deductions, my net profit was $14k. I'm very thankful for SS especially when my business is so slow. I don't make a huge amount, but any little bit helps!

[@bigjohnson7415]

That's my plan, and take Cobra to bridge to Medicare. 18 months to go!

[@YorkieUniverse1]

@@bigjohnson7415 What about ObamaCare? My daughter was able to get a decent policy pretty cheaply. Of course, she's in her 20's but I bet it would still be a lot cheaper than Cobra.

[@joshuabritt5677]

​@@YorkieUniverse1It all depends how much you make. You can get some great subsidies if you fall under the financial threshold.

[@katec4096]

Medicare is also not cheap.

[@YorkieUniverse1]

@@katec4096 It's cheaper than COBRA which can run over a thousand per month.

[@randy74989]

It all depends on many factors: are you working, how old is your spouse, how much for retirement have you saved, do you have a pension plan at work, what is your health, do you have health insurance at work or not, own your own home, do you have a mortgage or not, etc. So, it is not an easy answer and 62 is not the definitive answer for most people. But go ahead; however you should hire a good CPA/Financial Advisor to run the numbers (pay them a fixed or hourly fee) and then make an informed decision.

[@Drumbeat52]

You can run your own numbers, who needs to pay someone to tell them what they need to do with their money or how much they need in the future. Pay off your debt, figure your fixed expenses and have a healthy emergency fund. Unless you can find someone who can tell you your future then you can do it yourself. Why pay someone for an opinion. Just my way of doing things.

[@user-yj3ob9kd3l]

​@Drumbeat52, your way is not practical for all. I can rationalize my own situation, but I know plenty of people who do not have the ability to understand and could make a big mistake.

[@Drumbeat52]

@@user-yj3ob9kd3l Guess your right, I've watched plenty of people give their money to scam artist, etc, so I can't talk for everyone. Guess I am to opinionated, my bad.

[@Red-ct6wx]

You definitely need to have a CPA / Financial Advisor, I have been very fortunate to have a very nice 401(k) which I will be retiring at 64 and will supplement my income when the time comes, and I would love to travel!! Advantage plan 🤷‍♀️

[@user-yj3ob9kd3l]

@Red-ct6wx yes! Same here, and I am traveling. 👍

[@johnedwards1801]

Thanks for sharing and I didn't know all of this. I still have a few years to go but this is good information to have.

[@oyajiblues]

Hey man, this is great. I am so happy I came across your channel. I turned 62 in may 2023. I was wanting to take it now, but after your video I think I may wait, but not full retirement. Could hit the dirt before that. But I am more educated about their system now. So Thank You!

[@carlschroeder6811]

You forgot to mention the biggest reason to start collecting at 62....if you don't plan on making over the minimum past 62 and you wait until 63 to get that extra 8% per/year, you have just given up $20,000 you would have been paid in that first year. It will take 10 years to break even at that extra 8% per/year you opted for. The break even point gets even further out for every year you wait to collect past 62.

[@northwestlife_9]

But if you still work that year you most likely will make WELL over $20k.

[@Robin-gf7bd]

I don’t understand.

[@jeffjeff4477]

59 In Cocoa Beach, Howdy down there!! Boyton has wonderful beaches! Great spot. Subbed

[@sandygrimes7196]

I’m 56 and I’m also retiring at 62, I been a widow almost 3 years now and expecting SS at 60 from my late husband, i still plan on working down to part time when I retire…great video thanks

[@Ginger57]

I'm 57, on SSDI since 2009. My ex died in 2018, neither of us remarried and were married 24 years. Because of ssdi I will be able to draw 100% of his as long as I dont remarry until 1 day after turning 60. I got some very helpful info from a pro. 😊The Medicare Family.

[@christopherhennessey8991]

Collecting Social Security as of age 62,no regrets. I also receive a monthly pension from working as an RN. The combo is a nice boost to my finances.

[@brianjackson8668]

Bless you

[@myhorse52]

Thanks for the video. Just turned 62 12/29/23 and am considering collecting my SS now. I believe the cap for 2024 is now up to 22,300.

[@GC-Hiker]

👍

[@whodatis2]

I turned 62 Jan of 2023. I applied for social security in June, with my first check starting last week in Aug. I didnt know about the 1770 income cap until I had already made 1750 by Aug 8. I cant work again until September and then only one day a week. I am actually thrilled to be drawing my social security although I will have no health insurance for over 2 years. I have been so happy not having to work full time anymore ❤

[@BigDsGaming2022]

you can work all you want to just give them half of everything over the limit you make

[@sylviayoung1547]

For some reason I thought you had to apply 3 months before turning 62. I just decided I am not working until I am 67 for these companies and working you butt off with no appreciation! I'm ready to live some

[@BigDsGaming2022]

@@sylviayoung1547 If you do not apply 3-4 Months early ONLINE ( do not go to a SS office ) before your 62nd birthday then the Feds will hold your first 3 payments and you will lose your money .Yes SS steals from you .

[@livingthedreamdjm]

Can't you get health insurance through healthcare.gov? My son gets it. His pay is low so it's subsidized by the government.

[@BigDsGaming2022]

You file online 3 months ahead so the SS and Feds do not steal your first payment after your 62nd birthday . They will steal 3 months of checks if you do not file online 3-4 months before

[@susang.7542]

Hello Tim, I just found your channel today and you’ve helped me too think this thing through. I’ll be 65 on Dec 28TH and I’m working a 45 hour week. My earnings are approximately 25K annually. I thought I’d wait until I was 66 and 8 months to apply for SS as I wanted the extra money it would bring. The problem is I’m tired and long to have freedom to enjoy my life. I can see now that applying for SS is the wise choice. Thank you for talking good ole horse sense. Now if I can just find the right man my age to share it with I’d be crushing it! 👍

[@Dave-sw2dm]

Yes, at that low of an income you might as well apply and drop to part time to make ends meet.

[@holly1391]

You will find the right guy, but you must have faith and truly believe that you will!

[@tj4787]

Hi Susan I’m 58 my birthday is also Dec 28 Th 🥰🙏🏾♥️

[@lisak423]

Thank you for a great explanation. I have 2 friends that are contemplating retirement, one at 62 and the other at 63. (I had to medically retire years ago.) I am definitely telling them about this!

[@gardengunguy]

I retired at age 60 from my computer programming job January 2021. I took a part time job until I moved to FL in October 2021 to help take care of my parents. I took my SS when I turned 62, which was October 2022, and I do not regret it at all. My fixed monthly income is enough so I can save at least a third. Thank you Tim for the information!!

[@lynnardbaker2025]

What are you saving for?

[@gardengunguy]

@@lynnardbaker2025 Travel expenses, a new RV, grandkids college, lots of things 😃

[@skibee421]

parents doing ok?

[@gardengunguy]

@@skibee421 Mom is doing alright, but dad passed back in Dec last year a week after his 90th birthday. He fell in June, broke his kneecap and never fully recovered. Thank you for asking 🙂

[@skibee421]

@@gardengunguy ur welcome! my parents came to live w/me till they died in 2002- 2 months apart. went to bed for 3 months couldn't function..

[@Krystaldoll282]

I’m 58 year old single woman. Thanks for your videos they make perfect sense!!!!!

[@jaminova_1969]

I like your energy Tim and this good information!