[Mary]

I am about to turn 62 and wonder if anyone who is single has regretted taking social security early? I am considering it but am a bit nervous. I am almost debt free and do have.

a decent amount of savings though not rich.

For those who have taken Social Security at 62 while being single, did you find yourself regretting that decision later on?

I’m trying to weigh the pros and cons of claiming benefits early, and I’m curious if anyone has experienced downsides, especially when it comes to long-term financial stability.

If you could go back, would you have waited longer to claim? How did it affect your lifestyle, retirement savings, or overall financial situation as the years passed?

Any insights or personal experiences would be greatly appreciated!

[Eileen]

Took early retirement, cut down on spending and increased happiness!

[Vickie]

I took mine at 62, you can’t get Medicare till 65. So, I had to keep my private insurance till then.

Something you may want to think about.

[Donna]

I have absolutely never regretted it. Obviously with retirement you make less money but you learn to live within your means, and the peace of mind being retired is the absolute best.

[Shirley]

Please don’t!! I took mine at 62-1/2. If I had waited until I was 66, SSA projected I would draw $1800/month. It would probably ended up being more because I was making $70k/yr at the time.

Anyway, 14 years later and I now draw $1725/mo.

And I’ve gone through all my savings.

If I had only worked those extra 2-1/2 years.

[Rita]

Now 66,retired at 62 in 2020 as I wasn’t going to take a chance being out in public everyday.

I have never regretted it. I did it with no savings at all

[Lisa]

Zero Regrets! If I had any regrets or needed some extra pocket money, I’d go back to work part time at some easy little no stress job for minimum wage.

Personally, I’d rather eat beans and cornbread for the rest of my life than go back to work.

I will say, you need to find a purpose for your life after you retire.

For a couple of months, I floundered and felt a little depressed…. but then I took my land and turned it into a small cattle raising operation.

I’ve got 29 cows now and so that keeps me busy.

It’s not going to make me rich but taking care of my animals gives me a sense of purpose and keeps me active…. most of all it makes me happy.

I’ve always loved taking care of animals. Find your passion and roll with it.

[Doug]

I’ll be 62 soon and have already applied. I figure it’s my money and I’m going to take it while it’s still there.

[Tianna]

I am 62 and taking my SS. Tomorrow is never promised. I retired at 56 to care for my mom.

Hubby retired at 55 and will be taking his SS at 62 which he will receive in December.

Taking SS early allows our IRAs to grow…. much faster than the $$$ would in SS if we waited.

ACA is very affordable if you keep your taxable income low.

[Deborah]

One thing to think about is health insurance! Took my Social Security at 65 as soon as I was able to go onto Medicare.

[Wanda]

I took mine at 62 and now I am 67 I have not regretted it… for example if you draw 1500 per month that is 18.000 a year and for five years that’s 90,000 dollars you will never see.

[Shelley]

There is no guarantee you will live to get more so take it as soon as you can.

You can always invest it if you don’t need it.

[Darla]

I had to take early retirement at 62 so that I could take care of my Mother.

Mom has passed but it has been 2 1/2 years and I have had no regrets.

I have no debt, a little money in the bank and do what I want when I want. It’s wonderful!

[Connie]

I took mine at 62 and haven’t looked back. It’s a gamble…. Why wait till older? What good is that extra $300 IF you don’t live that long?

[Lauree]

Took it at 62 and now 66
Never regretted it. Health is wealth enjoy your time each day.

[Dorene]

My husband always said he’d take it as soon as he could since he wasn’t even sure if he’d make it to 62. His grandfather died at 60, his dad at 61.

He made it 19 days longer than his dad and had a major heart event.

He died on the table but they brought him back to life.

He’ll be 62 in April and will be signing up immediately.

[Jax]

I took it at 64 and almost 70 now and I’m not sorry at all.Who knows how long before the government decides to take it from us. Take it now The older we get they just wait for us to die.

That’s why they keep raising the age limit.

They r counting on us to die before we ever get to collect it.

[Allison]

I am 64 and did not take it because it would be so much less than if I waited. I am probably going to wait until 67 because I’ll get $300 more a month than I would if I took it at 65.

If I had taken it early I know I would have regretted it.

But I would never blame anyone for taking it at 62 if they had no savings and truly needed the money.

[Jackie]

I figured out that it would take me 8 years past my 67th birthday (full retirement age) to recoup the money that I would make between 62 and 67.

I’m healthy and enjoying life, so I took it 62. No regrets.

And who knows when the government will decide to raise the retirement age?

[Val]

I worked past retirement age and I still regretted retiring. I was a registered Nurse and reregistered after a year, at age 69.

I was diagnosed with terminal cancer shortly after.

I loved my job so I don’t regret that but I’m sad that there is now no time left to do anything else.

[Penny]

What about health insurance? 65 is the age Medicare eligibilty.

[Jan]

If you can retire early great. I would never do that again if I could change it.

The longer I could work the more money I could gather.

Years ago the extra was so minimal but today it means hundreds of dollars in so many cases.

[Laurie]

I took mine at 62. My savings for retirement plan included an allowance to pay for health insurance for the three years until I got on Medicare.

I work (very) part-time now and am REALLY glad I’m not working full time anymore!

I’ll start Medicare on 12/1. Even though I’ll have to pay for it, it’s WAY less than paying for insurance in the Marketplace.

[Jennifer]

Consider these things: 1) Your overall health 2) Your medical insurance (Medicare kicks in at 65, I think) 3) If you live another 20+ years, you will be receiving a significantly lower amount of SS for the rest of your life, compared to one who retires at 65 or 67.

Do the math. 4)Will that amount be enough to keep up with inflation during your lifetime? 5) Will you be still be happy later on if you are struggling to pay for food and impending medical expenses?

These are some questions to ask yourself.

Good luck making the right decision!

[Author]

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