10 Reasons to Take Social Security at 62…

…and 10 reasons not to.

Photo by Alexander Grey on Unsplash

At 61, I’ve given a lot of thought to Social Security and when to take it. Recently I read David Weldy’s post below about raising the retirement age. It caused me to polish off a draft of a short post I’d shelved for some time.

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I’ve put off making this post for too long, seeking for it to be perfect. No decision is perfect, including when to take Social Security. so here goes it…

Why cash in and take Social Security at 62?

1. Because you can, that’s all the reason you need.
2. You want to stop working as soon as possible.
3. Enough (money) is enough.
4. Your financial advisor told you to wait (and you don’t trust them).
5. You’re not concerned with leaving an inheritance to others.
6. Your mindset is ‘SKI’ → Spending my Kids' Inheritance!
7. The math works, i.e. it supports your decision.
8. The math doesn’t work…