What would you like to do?

Is it best to draw Social Security benefits at 62 or full retirement age?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

Is it best to draw Social Security benefits at 62 or full retirement age?
The answer depends on your individual circumstances; however, if you begin drawing retirement benefits at age 62, your check will be approximately 75% of what you would receive at full retirement age (most likely 66). This will be your base rate for the remainder of your retirement.
+ 202 others found this useful
Thanks for the feedback!
Follow

Emberlight has many wonderful features, such as enabling "mood" presets, pretending to be home when you're not, and dimming lights to save energy. How did you determine that these were pain points emberlight could solve?

View Full Interview
Can people born in 1958 still draw their Social Security retirement benefits at 62 years old?

Can people born in 1958 still draw their Social Security retirement benefits at 62 years old?

Yes. You can take early retirement at age 62 if you have accumulated the required 40 work credits, but your benefit amount will be reduced to approximately 75% of what you wou

If you draw disability Social Security at the age of 58 when will you draw Social Security retirement benefits?

Social Security Disability (SSDI) benefits automatically convert to retirement benefits at the same rate of pay when the person reaches full retirement age. There is no increa
You were born in 1953 can you draw Social Security at age 62?

You were born in 1953 can you draw Social Security at age 62?

Yes, under the current laws anyone who has accumulated 40 work credits may retire at age 62, but you will only receive approximately 75% of the benefit you would be entitled t

Will your pension check reduce your Social Security benefits before full retirement age?

No. Only earned income is counted toward the $14,160 annual cap and still allow you to receive full benefits between the ages of 62 and the year in which you achieve the full

Can you draw Worker's Comp and Social Security at age 62?

Yes, but your Social Security benefits may be temporarily reduced to prevent a windfall. If you are collecting from both programs, the maximum you can receive is 80% of your c

Is it financially smarter to collect social security at 62 or wait until full retirement?

This is a personal decision and would depend on your financial situation and other factors that you may want to consider. To get the larger monthly benefits and if you are c

What is Social Security Administration full retirement age to collect?

Beginning with people born in 1938 or later, that age gradually increases until it reaches 67 for people born after 1959. Go to the SSA gov web site and use the search box for

What is the maximum Social Security benefit at age 62?

The exact amount of your benefit is calculated based on the average of your 35 highest-earning years, which varies by individual. At age 62, you would receive 75% of the amoun

At what age can you draw Social Security benefits?

You can take early retirement at age 62 if you have accumulated the required 40 work credits, but your benefit amount will be reduced to approximately 75% of what you would re

Do Social Security disability benefits stop at age 62?

No, Social Security benefits continue unless you reenter the workforce and engage in Substantial Gainful Activity (SGA), which translates to earning more than an average of $1

How much money can you earn at age 65 and draw full social security benefits?

At age 65 which is no longer the benchmark retirement age, you are subject to the earnings test until you reach the year of your normal retirement or full retirement age. Fo

What will your Social Security benefits be at age 62?

Social Security Online has benefit calculators to help you estimate how much retirement income you may receive. Bear in mind that retiring at 62 will reduce the monthly amount