SS: are you taking at 62 or 70?

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Yesterday
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6:03p, 5/11/26
AG
Just listening to a guy talk about how taking it at 62 rather 70 is the way to go considering your break even point is roughly 79 years old and there are few 80 year olds who would enjoy that benefit of extra cash.

I'm 41 so I have quite a ways to go and who knows if it'll be there but I'm curious to hear from those who are there or on the cusp.
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5Amp
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7:00p, 5/11/26
66
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jamey
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7:02p, 5/11/26
AG
Probably closer to 70 because I may be working still, something simpler but something

And if you work while taking SS they limited how much you can get in SS as I understand it

Or whatever age they stop.that
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752bro4
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In reply to Yesterday • 7:53p, 5/11/26
AG
41? lol. I'm 43, SS is in no way shape or form apart of my retirement calculations despite paying in the max for the better part of my post-grad life.

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Pacifico
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In reply to 752bro4 • 8:03p, 5/11/26
AG
752bro4 said:
41? lol. I'm 43, SS is in no way shape or form apart of my retirement calculations despite paying in the max for the better part of my post-grad life.



This fake news has been around since the 1960s.
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jja79
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8:15p, 5/11/26
AG
I started at 66.5 when the income limit no longer applied since I was still working.
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Yesterday
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In reply to 752bro4 • 8:37p, 5/11/26
AG
752bro4 said:
41? lol. I'm 43, SS is in no way shape or form apart of my retirement calculations despite paying in the max for the better part of my post-grad life.


My retirement calculations are already in play as I retired in November. SS was and is obviously not apart of that but I was curious what others thought about this guys idea of taking it as soon as possible.
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one safe place
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In reply to Pacifico • 8:57p, 5/11/26
Pacifico said:
752bro4 said:
41? lol. I'm 43, SS is in no way shape or form apart of my retirement calculations despite paying in the max for the better part of my post-grad life.



This fake news has been around since the 1960s.

It amazes me every time someone says they won't get a dime of SS or it won't be around because it will be out of money. We will never cut SS benefits because that would mean those who did would not get reelected. We will deficit spend, just like we do with everything else.
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LMCane
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In reply to Yesterday • 8:57p, 5/11/26
Yesterday said:
Just listening to a guy talk about how taking it at 62 rather 79 is the way to go considering your break even point is roughly 79 years old and there are few 80 year olds who would enjoy that benefit of extra cash.

I'm 41 so I have quite a ways to go and who knows if it'll be there but I'm curious to hear from those who are there or on the cusp.

62

hopefully there is still money and they haven't stolen all our funds by 2032

and raised the age to begin withdrawals by then
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one safe place
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In reply to Yesterday • 9:22p, 5/11/26
Yesterday said:
752bro4 said:
41? lol. I'm 43, SS is in no way shape or form apart of my retirement calculations despite paying in the max for the better part of my post-grad life.


My retirement calculations are already in play as I retired in November. SS was and is obviously not apart of that but I was curious what others thought about this guys idea of taking it as soon as possible.

I think you have to do the math. but with a little bit of guesswork. Of course, the one thing that would solidify your calculation is knowing your date of death!

Those who profess to take it at 62 (you would have to be working part time or not at all to keep from having issues with the earnings test) feel that 4 or 5 years even at a lower monthly amount would generate a lot of cash and that it would take many years at the higher FRA amount to recover what you got in the 4 or 5 years by starting early. I think the breakeven is age 78 or 80 or something.

The guesswork involves your life expectancy and whether you have health issues in your past. Someone who has had cancer a time or two, or really high blood pressure, heart issues, might be better off taking it early. And your genes, if many ancestors lived into their 80s and 90s, you might be better off waiting, but if many died prior to 60, then odds favor taking it early.
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SteveBott
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9:26p, 5/11/26
AG
At 62 I did the break even for them or wait until 65. It would take 5 years to recoup the lost money from 62.5 to 65 so I'd wouldn't get ahead until 70. I'm on dialysis for kidney failure so my life expectancy is not much more than 70.

I think a normal male in the states is 78??? So it made sense for me to collect as much as I can for my family.

But you do you. Run the numbers. Estimated payments are on the SS website.
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GoAgs92
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9:41p, 5/11/26
AG
Spouse 62, me 66.5, she will get half of mine so may as well get some early.

This is all inheritance dependent, she will get at least $500k once probate is done so maybe 62 for both.
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A. G. Pennypacker
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9:53p, 5/11/26
AG
I'm thinking about 65.5. I'm 63.5 now.
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MemphisAg1
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9:57p, 5/11/26
AG
I thought for many years I would probably start at 62, but as that approaches within four months I've had a shift in thinking. This question shouldn't be answered in isolation. It should be considered in the context of your broader portfolio. When I retire in less than a year, I need about five years to convert my pre-tax 401k to a Roth 401k and stay within the 24% tax bracket on those conversions. I was in higher tax brackets when that money was set aside, so this move will legally avoid substantial taxes and position those funds for tax free growth in the future.

To temporarily avoid additional income and stay in the 24% tax bracket, I need to delay taking social security until 67 and complete those Roth conversions from 62 to 67. Especially while tax rates are relatively low by historical standards. The nice thing with SS is that my benefit at 67 will be much higher than at 62.

Delaying SS and converting to Roths now also has the advantage of keeping my MAGI in future years much lower because Roth distributions aren't included in MAGI -- and by extension -- keeping my future Medicare premiums low and not subject to an IRMA (income-related monthly adjustment) premium hike.

I've modeled a variety of scenarios, and it's much better for my total portfolio to delay SS to 67. I realize it's different depending on your personal situation, but delaying makes more sense for me, which is counter-intuitive to what I thought for many years prior.
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Kansas Kid
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10:54p, 5/11/26
If you think you will live to a ripe old age and can wait financially, wait until 70

If you are in poor health and especially if you need the money, take it early.

If you think benefits will be cut by 20-30% when the trust fund runs dry and you are eligible to take it now (yes I know there arguably isn't a real trust fund), you should take it early unless you expect to live to 95-100.

If you think the benefits will be means tested in the near future and you have a lot of means, take it while you can.

In other words, the key drivers in order are how long will you live, how badly do you need the money before 70, will benefits be cut when the trust fund runs dry and will they means test benefit payments likely when the fund runs dry.
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Stive
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11:44p, 5/11/26
AG
For those who are older than their spouse and your check is higher than that of your spouse, the question is not how long will you live. It's how long will your spouse live? If your spouse is younger, healthy, and has decent longevity in their family, waiting until the later date is almost always the way to go.

Too many people think they're going to die early but that's not the risk part of this equation. The risk is you living "too long" or your spouse living "too long".
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permabull
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4:12a, 5/12/26
AG
A common strategy is for the spouse with the lower lifetime earnings to claim at 62 then the higher earner to claim at 70. Depending on how much less the spouse who claimed first check was they might get a raise once the higher earning spouse starts claiming (I.e. if their check was less than half the higher earners check they can start claiming off the higher earner's record). This way whoever survives the longest will inherit the larger check for the rest of their life.
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OldArmyCT
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4:58a, 5/12/26
AG
Permabull is pretty much correct. My wife wanted to take hers at 62, she held off until I was at full retirement age then died at 69. If she had waited until 70 she would have gotten nothing.
Also look at your own health and compute your breakeven age. When I took mine at 66 the breakeven age was 82, that's a big hurdle for men.
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Hoyt Ag
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8:21a, 5/12/26
AG
62.
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LMCane
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In reply to one safe place • 8:38a, 5/12/26
people never stop to think that you will be spending the MOST between ages 62-70

when you are STILL HEALTHY and able to move around

so yea, I would rather have more money and have to draw down less from my savings (meanwhile the savings are increasing in stocks) and spend less in my 70s

which every study shows happens anyway.
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GeorgiAg
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9:15a, 5/12/26
AG
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Principal Uncertainty
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In reply to Stive • 9:24a, 5/12/26
Stive said:
For those who are older than their spouse and your check is higher than that of your spouse, the question is not how long will you live. It's how long will your spouse live? If your spouse is younger, healthy, and has decent longevity in their family, waiting until the later date is almost always the way to go.

Too many people think they're going to die early but that's not the risk part of this equation. The risk is you living "too long" or your spouse living "too long".

This is my situation. My younger wife with better DNA will probably outlive me by 20+ years and she has minimal SS income. So if I wait until full SS, it will increase her 1/2 draw for those 20+ years I'm not around to look after her.
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GeorgiAg
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In reply to Principal Uncertainty • 9:27a, 5/12/26
AG
You're a good man.
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YouBet
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9:45a, 5/12/26
AG
I'm factoring Memphis's post with ours, but I'll take it early if I can. Barring income and tax advantages like he laid out and/or tax law changes that will have to happen in the next few years to solidify the program, I'm simply pursuing the age old financial maxim that a $1 today is worth more than $1 tomorrow.
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insulator_king
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9:51a, 5/12/26
AG
I took it at 63 yr 1mo. Was going to take it at 62yr 7mo, but DOGE came along for fed employees, and I jumped on that sucker. Got paid 7 mos while at home not working!

Single [divorced], in very good health, living in the high country of western NM. Love it!

Never know what might happen in the future, my dad lived til 80, mom is still going at 89.
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permabull
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In reply to Principal Uncertainty • 10:01a, 5/12/26
AG
Edit: misread your post
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permabull
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In reply to YouBet • 10:05a, 5/12/26
AG
I ran a calculation awhile back and it basically came down to if you think you you can beat inflation by 4% or more investing your your social security you should take it ASAP.

That being said I will likely still be doing Roth conversions when I hit 62 and wont want the extra taxable income to crowd out my lower tax brackets so I will likely wait till 70.
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JobSecurity
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11:30a, 5/12/26
AG
Any considerations for those looking to retire early, say 55 or so? In my head taking it at 62 would alleviate some of the sequence of returns risk?
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AgOutsideAustin
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In reply to JobSecurity • 12:21p, 5/12/26
AG
JobSecurity said:
Any considerations for those looking to retire early, say 55 or so? In my head taking it at 62 would alleviate some of the sequence of returns risk?


That would be seven years before you take it so your kinda past the first 4-5 years of sequence of return risk that's most crucial at that point. You should have enough safety built into your plan to get through the sequence of return risk if you retire at 55 without regard for social security at 62. Just my two cents.
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TTUArmy
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In reply to one safe place • 12:29p, 5/12/26
one safe place said:
It amazes me every time someone says they won't get a dime of SS or it won't be around because it will be out of money. We will never cut SS benefits because that would mean those who did would not get reelected. We will deficit spend, just like we do with everything else.

The only thing that kills social security is a monetary reset, and even then, I think politicians feel enough heat to bake it into whatever monetary system comes after.
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gggmann
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12:33p, 5/12/26
AG
FYI, Open Social Security is a pretty good tool for evaluating different scenarios.

https://opensocialsecurity.com/
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El Chupacabra
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12:50p, 5/12/26
I'll be taking SS as early as possible....whatever age that is at the time.
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txaggie_08
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1:21p, 5/12/26
AG
I assume I'll take it as early as possible, but over 20 years away so really don't know. Hoping to have the ability to retire by age 55, and then take in SS around 62, but will have to weigh all options as that date draws nearer.
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permabull
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In reply to AgOutsideAustin • 1:55p, 5/12/26
AG
AgOutsideAustin said:
JobSecurity said:
Any considerations for those looking to retire early, say 55 or so? In my head taking it at 62 would alleviate some of the sequence of returns risk?


That would be seven years before you take it so your kinda past the first 4-5 years of sequence of return risk that's most crucial at that point. You should have enough safety built into your plan to get through the sequence of return risk if you retire at 55 without regard for social security at 62. Just my two cents.

exactly... it makes sense to keep that in the back of your mind that if you get hit with a bad sequence from 55 to 62 its a fall back, but when you are 62 if the market was on a tear those first 7 years of retirement you might have 2x or more of what you started with at 55.
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A. G. Pennypacker
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In reply to MemphisAg1 • 1:56p, 5/12/26
AG
MemphisAg1 said:
I thought for many years I would probably start at 62, but as that approaches within four months I've had a shift in thinking. This question shouldn't be answered in isolation. It should be considered in the context of your broader portfolio. When I retire in less than a year, I need about five years to convert my pre-tax 401k to a Roth 401k and stay within the 24% tax bracket on those conversions. I was in higher tax brackets when that money was set aside, so this move will legally avoid substantial taxes and position those funds for tax free growth in the future.

To temporarily avoid additional income and stay in the 24% tax bracket, I need to delay taking social security until 67 and complete those Roth conversions from 62 to 67. Especially while tax rates are relatively low by historical standards. The nice thing with SS is that my benefit at 67 will be much higher than at 62.

Delaying SS and converting to Roths now also has the advantage of keeping my MAGI in future years much lower because Roth distributions aren't included in MAGI -- and by extension -- keeping my future Medicare premiums low and not subject to an IRMA (income-related monthly adjustment) premium hike.

I've modeled a variety of scenarios, and it's much better for my total portfolio to delay SS to 67. I realize it's different depending on your personal situation, but delaying makes more sense for me, which is counter-intuitive to what I thought for many years prior.

Has anyone found good on-line tool for evaluating / comparing doing Roth conversions after retirement vs not doing it? There are a lot of variables to consider as you mention, but I haven't found a good tool for telling me if it's really the right thing to do or not - depending on individual circumstances.
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