馃攳
Early Retirement Social Security | 3 Reasons You Should Take Social Security at Age 62 - YouTube
Channel: Easy Money with Don Anders
[0]
we're going to get into the three
[1]
reasons why you should consider taking
[3]
your Social Security at age 62
[10]
[Music]
[15]
the first reason you should consider
[18]
taking social security at age 62 is
[21]
health now I'm not talking about you
[25]
know you're sick right now which we're
[26]
gonna get into that but I'm talking
[28]
about future health so there's three
[31]
stages in retirement that people like to
[34]
talk about they have the Go Go ears
[36]
which is where you're healthy you're
[38]
active you're traveling you're going out
[40]
to eat you're playing tennis you're
[42]
doing things then you have the slow go
[45]
yours may be things slowed down a little
[47]
bit maybe you're not traveling overseas
[48]
you're just going you know a couple
[51]
states away maybe you're going out to
[53]
eat a little bit less often just going
[54]
to family's house then there's the No Go
[57]
years when health starts to decline a
[59]
little bit and maybe now instead of
[62]
going out to eat you eat in maybe you
[65]
just don't have the energy for it or
[66]
maybe you do have the energy for it but
[68]
your spouse is not feeling up to it and
[72]
everybody faces this we don't know how
[74]
long each stage is going to be but
[77]
everyone typically goes through it so
[81]
some people say well uh as I retire when
[85]
I'm 62 or 63 or 64 I'm gonna have way
[89]
more energy than I'm going to have when
[92]
I'm 78 79 80 the break-even point for
[95]
most people taking Social Security age
[97]
62 verse 67 is actually age 78 and a
[101]
half now that can change based on the
[104]
year that you're born but that's for
[105]
most people so a question that I asked
[108]
my clients is will you be more active at
[111]
62 then you will be at 78 and the answer
[115]
almost always is yes they plan on
[120]
traveling they plan on going places
[122]
maybe their kids are still young they
[125]
have grandkids to go take care of and
[126]
they could use the money for that action
[129]
that extra lifestyle expense and they
[132]
know go yours maybe you're not spending
[135]
money on a trip to Europe maybe you're
[137]
not spending money on grandkids there
[139]
because they're all grown so just
[141]
something to think about is not just
[143]
help now but also future health
[145]
throughout your retirement
[147]
the second reason you might want to
[149]
consider taking early Social Security is
[151]
current health and really this applies
[154]
more to your beneficiaries so if you are
[158]
currently in not great health and let's
[160]
say that you don't think you're gonna
[161]
make a disseminate or maybe you have
[163]
some type of sickness where you know or
[166]
even just maybe in your family life
[167]
expectancy isn't as long you might want
[170]
to consider taking it early this is the
[173]
beneficial security is a benefit that
[174]
stays with the government if something
[177]
happens to you if you pass away before
[179]
you start taking the benefit your spouse
[181]
may be able to take a small portion of
[183]
it an increase from theirs to yours but
[186]
your kids your grandkids are not going
[188]
to get to use it so some people will
[191]
retire at 62 but they want to think
[194]
their Social Security at 70 because
[196]
somebody told them to and they spend
[198]
down their 401 K in their IRA to do that
[202]
and then if they pass away that 401 K an
[206]
IRA could have been left to beneficiary
[208]
so Social Security will not be left to
[210]
beneficiaries so if you don't think that
[212]
you're gonna make it to 78 80 years old
[214]
go ahead and get that benefit you pay
[217]
them your entire life get some of that
[219]
money back and don't spend down your
[222]
retirement saving your retirement nest
[224]
egg to do it the last reason you might
[227]
want to consider taking earlier Social
[229]
Security is if your future expenses are
[233]
going to be less than your current
[235]
expenses so we see this a lot with
[237]
people who maybe they have a mortgage
[239]
where the mortgage will be gone at 75 or
[241]
maybe they have student loans yes people
[244]
still are retiring with student loans
[245]
but they'll be paid off at a certain
[247]
point so if you think that your expenses
[250]
will go down not just because of travel
[252]
or whatever else like we talked about
[253]
with option one but also just your
[256]
general bills maybe you have a
[257]
seven-year car loan that will be paid
[259]
off but you need more money now and
[262]
you'll be struggling if you don't take
[263]
it you might want to go ahead and take
[265]
Social Security now because you won't
[266]
need as much income in the future thank
[271]
you so much for watching my video if you
[273]
want to see more you can click here to
[274]
subscribe or you can click right here
[276]
for a video that YouTube will think is
[279]
best for you
[280]
it's their algorithm don't blame me for
[282]
it but I hope you enjoy
Most Recent Videos:
You can go back to the homepage right here: Homepage