Is Age 62 the Best Time to Start Drawing Social Security?

Making the decision to begin collecting Social Security benefits is dependent on several considerations. The earlier you retire the lower your check, and if you continue working while collecting benefits there is a limit to how much you can make before it affects your payments. Your health may also play a part in your decision. This is a page about, "Is 62 the best time to start drawing Social Security?".


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Is age 62 the best time to start drawing my Social Security? I turn 62 in January. I am sort of semi-retired, what would be best for the long haul? Advise please.

By Jack Studie from Murray, KY


October 4, 20090 found this helpful
Best Answer

You can go to the social security web page at or to and type in social security and under the first list that comes up click on retirement. It will give you all kinds of information. You can retire at 62 but you won't get the full amount as if you retired at 66. For people born in 1943 the retirement age for full benefits is 66. If you retire at 62 and would like to continue to work the maximum you can earn is $14,160. It is all explain in the web site.

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October 4, 20090 found this helpful
Best Answer

If you wait you can get more in your monthly check.

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October 6, 20090 found this helpful
Best Answer

I would say do the math. If I retire now at 62 I collect so much money over the years which equals $$$. Then I retire at 65 or 66, and collect $$$ over the years. Look at health issues you might have, are you happy working, etc.?


My husband took early retirement at 62. Also, even though I did not earn enough credits to collect Social Security on my own person, I do collect, one half of my husband's Social Security amount at age 62. I did not know this was possible until my dear sister in law told me.

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October 3, 20090 found this helpful

I was told when I retired in 2000 that a 'rule of thumb' sort of depended on your health and how many more years you expect to live. In my case they (speaker from SS admin) that if I thought I would live MORE than 13 years after retirement, to wait until 65. If I thought less, retire at 62 (which I could do at that time). so I did retire at 62. I asked the SS speaker when she planned on going for her social security and she said 'as soon as I am eligible' so I gather she was planning on probably 63 or so by now.


But, your mileage may vary. It all depends on how much you are eligible to draw. The money you get at 63 may not be enough but the money at 66 might. Check all the options and make up your own mind. Don't take my advice just because you read it here. Check it out!

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