What you need to know about Early Retirement Social Security, and the 3 reasons you should consider taking your Social Security retirement early. Social Security can be taken as early as age 62 and as late as 70, and this video is specifically about taking Social Security at age 62. 0:00 Introduction 0:16 The 3 Stages of Retirement 2:28 Current Health 3:46 Decreasing Expenses...(read more)
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As the clock ticks on, you may find yourself counting down the moments until retirement. For many, the thought of kicking back, relaxing, and enjoying the fruits of their labor created from years in the workforce is a dream come true. However, there are a few questions that should be addressed during the planning stages of your retirement. One of them, and an important consideration is when to take Social Security Benefits. While it's tempting to wait until full retirement age or beyond to start collecting, sometimes taking social security at age 62 is the best financial decision. Here are three reasons why you should take Social Security at age 62: 1. Social Security Benefits Are Not Guaranteed For many, the Social Security Benefits are seen as guaranteed income, but this may not always be the case. With current economic conditions and the uncertainty of the financial landscape, there's always a chance that Social Security Benefits could be cut or reduced in the future. By taking Social Security at age 62, you can lock in your benefit amount and receive payments for as long as you live. 2. You May Receive More Money Over Time While it's tempting to wait until you hit full retirement age to start collecting Social Security Benefits, the longer you wait, the higher your monthly payout. However, if you consider your total payout over time, you may actually receive more money overall by taking it early. This is particularly true if you're in good health and you expect to live well into your 80's or 90's. 3. Work Less, Enjoy More Many people dream of early retirement, and taking Social Security at age 62 can make this a reality. By taking Social Security Benefits early, you may be able to retire sooner and enjoy more leisure time. This can be particularly appealing if you've worked hard for many years and you want to spend more time traveling or pursuing hobbies and interests you didn't have time for while working. In conclusion, taking Social Security at age 62 can be a great retirement planning option for many seniors. It's important to weigh the pros and cons carefully and make decisions based on your individual situation. However, with the potential risks of Social Security Benefits looming in the future and the possibility of an overall higher payout, retiring early may be the right decision for you. https://inflationprotection.org/why-taking-social-security-at-age-62-for-early-retirement-is-beneficial-a-3-point-perspective/?feed_id=85345&_unique_id=642fa68ca0095 #Inflation #Retirement #GoldIRA #Wealth #Investing #EarlyRetirement #earlyretirementsocialsecurity #earlysocial #earlysocialsecurity #FinancialPlanning #financialplanningforbeginners #financialplanningforbusiness #personalfinancecrashcourse #personalfinancetips #RetirementIncomePlanning #retirementincomestrategies #retirementplanning #retirementplanning2020 #retirementplanningfordummies #socialsecurity #socialsecurityat62 #socialsecuritybenefits #socialsecurityretirementbenefitsexplained #SpousalIRA #EarlyRetirement #earlyretirementsocialsecurity #earlysocial #earlysocialsecurity #FinancialPlanning #financialplanningforbeginners #financialplanningforbusiness #personalfinancecrashcourse #personalfinancetips #RetirementIncomePlanning #retirementincomestrategies #retirementplanning #retirementplanning2020 #retirementplanningfordummies #socialsecurity #socialsecurityat62 #socialsecuritybenefits #socialsecurityretirementbenefitsexplained
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