When it may make sense to claim Social Security at 62

When Health Is a Major Consideration

One of the strongest arguments for claiming Social Security at 62 is poor health or a shorter-than-average life expectancy.

Individuals facing serious medical conditions may prefer to receive benefits earlier rather than waiting several years for larger payments. In such cases, maximizing lifetime benefits may mean starting sooner and collecting payments for as long as possible.

Family medical history can also influence the decision. Those who expect a shorter retirement period may place greater value on receiving benefits earlier.

Immediate Income Needs

Not everyone has the financial flexibility to delay benefits.

Some retirees leave the workforce earlier than planned due to layoffs, caregiving responsibilities, or health issues. Others may lack sufficient savings to cover living expenses until full retirement age.

For these individuals, claiming Social Security at 62 can provide a reliable source of income and reduce the need to withdraw heavily from retirement accounts during market downturns.

While the monthly benefit is smaller, the immediate financial stability can be worth the trade-off.