5 SMART Reasons to File for Social Security at 62

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Most of the information and "advice" you find online makes the case that delaying your filing is always the right thing to do and thus filing for Social Security at 62 is almost always a bad idea.. There's a good reason for that thinking because filing for Social Security at 62 means taking reduced benefits FOR LIFE. But that advice is WAY too broad because it’s simply not true that filing at 62 is always a bad idea. This decision is highly dependent on your own personal set of factors. In fact, there are five specific circumstances when I think filing early makes the most sense and in this video were going to examine each of these.
RESOURCES:
Direct link to my SS Break Even Calculator socialsecurityintelligence.co...
My Video on using a break-even analysis
• The Social Security Br...
VIDEO: Spouse's Guide to Social Security Survivor Benefits
• Spouse's Guide to Soci...
🔥🔥 Get the Ultimate Social Security Cheat Sheet! It takes the essential information from the 100,000 page Social Security website and condenses it down to just one page! 🔥🔥
📍We can show you how to retire with confidence! 📍In our Retirement Roadmap plan, we can help make your retirement savings last longer and reduce your taxes by coordinating your Social Security filing strategy, retirement account withdrawals, and Roth conversions. 📞Schedule your call and see if this plan is a fit for you. www.devincarroll.com/roadmap
🎤 If you're preparing for retirement or already enjoying it, you'll definitely want to catch my podcast, Big Picture Retirement. Your retirement's success hinges on seeing the "big picture" and tying together your legal, tax, and financial strategies. On the show, we dive deep to offer insights on effective planning, and I'm joined by my co-hosts - attorney John Ross and yours truly, financial planner Devin Carroll. www.bigpictureretirement.com/
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Don’t miss my free online workshop, “How to Choose the RIGHT Age to File for Social Security.” In this workshop you’ll learn:
✔The Most Important Factors to Consider BEFORE You File for Benefits
✔How to Coordinate Your Social Security Filing Decision with Your Other Assets & Income for a Tax Efficient Distribution Strategy
✔Why This Is The Biggest Decision of Your Retirement
Access the workshop today at this link
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📜 HEAR YE HEAR YE: Some of my videos contain links to third party products, apps, and services. If you click through, I may receive a small referral fee to my media company (Carroll Media Properties) through their referral program. Rest assured, I only recommend products or services that I believe will be helpful and informative to my audience.
⭐⚠️⭐Please read this⭐⚠️⭐
⚠️I am not an attorney, SSDI advocate, or affiliated with the Social Security Administration or any other entity of the US Federal Government. I am a practicing financial planner, but I’m not YOUR financial planner and since I don’t really know you, I can’t give you advice. So please don’t take this video as specific advice for your specific situation. Consult your own tax, legal and financial advisors. 🙇🙇🙇🙇🙇
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3 июл 2024

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Комментарии : 2,6 тыс.

@DevinCarroll 2 года назад

Get a customized Social Security filing plan. Start with a complimentary discovery call with my team of Registered Social Security Analysts www.devincarroll.com/consult-with-RSSA

@JR-playlists Год назад

Do you vote for politicians who actively work to destroy social security? (Like Ron Johnson of (Wi-R)) Do you also pi$$ into the wind and shoot yourself in the foot? If you answered yes to the first question, you answered yes to the other two.

@MegaFisherman16 Год назад

Hello Mr Devin. The company i work for is closing. Im 57. 58 in Septrmber. Im a CKD Survivor with diabetes abd some bad knees. My last day is june 30th. Work has become difficult due to health reasons. My wife is younger and the higher earner. Should I file disabilty or continue to try to work. I need dome advice. Thanks

@mmariemarkel7482 Год назад

Hi @Devin Carroll I totally am a super fan of your channel. I have some comments about this episode but first want to ALERT you of something that could be affecting your numbers for it. When I watched it moments ago there was an ad that popped up and wouldn't allow me to watch on full screen on my android. The part that might affect you that full screen or not, there was NO WAY to comment, share etc. To be able to make those comment I had to close the screen out, go to my library and click to watch the video again. Otherwise no thumbs, comments. Save, share etc. Just wanted you to know so maybe you can get it fixed. It was a commercial for burial benefits but that isn't the only one that makes this scenario happen.

@mmariemarkel7482 Год назад

Hello @Devin Carroll I so appreciate how clear and easy to understand you make this subject of soc security rules and regulations. They can almost seem like learning a second language 😂 LOL. But not with you. However, you don't ever seem to cover an important group. Older ex-spouse, married over 10 yrs (15.5/yrs married). They were also the higher-earning ( making over $100 thousand but under $140 thousand/yr) working (at the same job) until full retirement age at 66.5 yrs old (Born1945). The younger spouse (b.1962) became completely & PERMANENTLY)disabled in 2012 (age 50) after working enough quarters to get soc security disability (SSDI) rather than SSI. You don't seem to cover this type of scenario in ANY of the videos I can find. When the older, higher-earning, ex-spouse retired, since the younger spouse was completely and permanently disabled at the time of the older spouses retirement and the younger was age 50, could the younger have applied for spousal benefits then or must they waited until 62 or older to apply. I hope you get to read this comment and will make a video, because I'm sure there are many others in the same type of situation. If you would consider a video and need any parameters I didn't mention feel free to msg me. Trayne.behr(AT @) Gmail I'm sure you know how fill in the @ and what's after Gmail. There really IS a period after Trayne in the address. It's not a typo. Thanks for the easily understood content you bring. I'll be looking forward to new content, but until then you'll find me binge-rustling through your impressive older library of content. Stay well, safe and spreading a little (or a LOT) of love. Namaste

@mdieu1694 Год назад

@@MegaFisherman16😊

@fishingpinky3165 Год назад

I retired from a demanding never appreciated job of nursing at 61. Best thing I ever did. Started taking SS at 62. I am active and want to enjoy life. Seen too many people come into the hospital after retiring late and having major medical issues. They could not enjoy their retirement. Retire early.....enjoy life!

@pittroadsixzeroseven Год назад

I appreciate you as a nurse. My daughter is studying to be a nurse. So sorry you feel that way

@rodbirch5876 Год назад

@@pittroadsixzeroseven not all nurses get satisfaction from their work, but I have met many who do, and for that I'm forever thankful.

@Marina-ow5fk Год назад

I've been a nurse for 31 years and I can't wait to retire at 62. 6 more years to go!!

@bsrk3170 Год назад

Curious to know-what are you doing for insurance?

@HomeEF Год назад

Me too I got my SS retirement at 62 this year 02/2023. I believe the same too, I l know a few people retired at 65 just got 1 checked or 2 then they died. Why do you think the government / SSA PUT those polices??!!!! Helloooo

@GillerHeston 11 месяцев назад

The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings to fall back on.

@rogerwheelers4322 11 месяцев назад

True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.

@joshbarney114 11 месяцев назад

Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $350k since then.

@eloign7147 11 месяцев назад

@@joshbarney114 I’m in dire need of guidance so i can salvage my portfolio due to the massive dips and come up with better strategies. How can I reach this advisor?

@joshbarney114 11 месяцев назад

@@eloign7147 ‘’Colleen Janie Towe’, is my adviser and she is highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

@eloign7147 11 месяцев назад

@@joshbarney114 Thank you for this tip , I must say Colleen, appears to be quite knowledgeable. After coming across her webpage, I thoroughly went through her resume, and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.

@philipaiello3890 3 года назад

Two years I plan to retire at 62. I am so DAMN tired of as-h-les saying "What will you do? I will enjoy life. I am sorry if these people have no life. I will read, go for walks with my dogs, try to go to church more often, go out for drinks and never, ever have to wake up to an alarm again or deal with traffic going to a job...or some days I will just do nothing. I just hope GOD grants me the time. Thanks, for reading

@bernie9728 3 года назад

I'm with you Phillip. I worked from the time I was 18 until I turned 62. Never once did I work because I wanted to. I always worked because I had to. There is nothing wrong with liking your job, but make no mistake, we are all there for the money. My wife and I made sure we put money away so the day that we no longer needed to work would get here as soon as possible. For me, being retired feels like a snow day from school every day. Anyone who lives in a northern state will get that reference.

@frankhall7005 3 года назад

Yeah don't listen to them. The grass is definitely greener over here. I retired at 51 I get up at 10am everyday don't miss one coworker. I have a pitcher of Margarita's when ever I want. Welcome to the club.

@chains6558 3 года назад

I don’t care if I wake up to watch the grass grow ......it’ll still beat being stressed out over a job .

@raymondparks4734 3 года назад

I'm right there with you. I have 2 and a half years till 62 and I am planning to retire.

@kathyperez9695 3 года назад

Yes I agree I will be 62 in 1 year and 5 months can't wait to retire my job is so stressful physically and mentally! I want to be able to enjoy the rest of my life by God's Grace

@williamrogers8109 3 года назад

I went at 62, it was a challenge money wise. Took a big cut in pay. That was in January 2018. I was totally worn out and discusted with that company. It used to be a decent place to work. Went totally downhill when the previous owner decided to hang it up and sold the company to investment bankers. I turned 62, I had options then. Clocked out one afternoon, never clocked in again. CHEERS, People.

@coraperez510 2 года назад

good decision making, congratulations!

@dougieretro8896 11 месяцев назад

That's very common when family-owned businesses are taken over by larger corporations and institutions looking only for profit.

@livdouglas3410 3 года назад

I said good riddance to corporate America in 2018, I choose to work part time at my local grocery store 2 days a week, and I also work in my community ministry, I’m active and never felt so fulfilled! I truly Thank God for this season in my life. 🙏🏽♥️

@lastchance6993 3 года назад

Tomorrow is not promise 😃

@Honestandtruth 3 года назад

Great choice and good decision to do what you love...👍❤️

@davidmagen415 3 года назад

Good for you. You escaped!

@kennethbeachem3776 3 года назад

Amen sister!always follow God's plan and He'll never lead you wrong. I'm 59 and trusting GOD for the same plan. GODBLESS!!

@reston81 3 года назад

Awesomevso glad for you

@jackieveal 3 года назад

One of the best things I did for myself was retire at 62. Don’t have to worry about being laid off or losing my job. Less stress.

@Honestandtruth 3 года назад

I do Agree...... That's what I plan

@clemzahrobsky2137 3 года назад

or the company going belly up and could affect your pension. i took a lump sum settlement and glad i did as the company closed up about a year after i retired and some of my co workers got screwed.

@vernt4583 3 года назад

@@clemzahrobsky2137 I had two uncles in Houston that worked for a company that went bankrupt before they got to retirement age back in the 80’s and they lost their livelihood other than ss !!! All of the retirement accounts were bankrupt because they used their stock as retirement for employees !!!

@lastchance6993 3 года назад

Yes, steady income once a month, rain, shine, snow, the check is coming

@davidmagen415 3 года назад

It’s great, I see a lot of help wanted signs. Couldn’t care less

@morganmcintosh7859 Год назад

I'll tell you a great reason to file at 62. I filed and a year later I had a heart attack and a quadruple bypass. Then I had pulmonary edema. So I almost died twice. I'm now 66 and I do not regret one single moment for filing early. 💕

@JBCavern 11 месяцев назад

Major medical is what scares me about collecting my benefits and retiring early. How would one pay for major medical without insurance? My high-deductible crap insurance runs me over $800/month and I'm in good health!

@morganmcintosh7859 11 месяцев назад

@@JBCavern you know you can supplement to the I got a Molina healthcare plan for $40 a month

@JBCavern 11 месяцев назад

@@morganmcintosh7859 Thank you. I'll have to look into that.

@sammyday3341 9 месяцев назад

I hope your health problems are better.

@tonyaction5284 6 месяцев назад

Awesome story brother!! Thank you for sharing with us🙏🏼 I will be 61 in Feb. 2024 and SS has already sent letters stating that I qualify for benefits should I decide to move on it at this age. What should I do??

@robertonuno2592 3 года назад

I retired at 62 because I my job was making me sick, right before I get ready for work, I will start getting stomach ache, and start shaking, I was a waiter for one of the big hotels here in Las Vegas, I was getting sick almost everyday,I was getting pneumonia the flu, and a lot anxiety, so I quite my job, and file for social security, I got like 1100 dollars, plus my pension from the culinary union, I work for 41 years on the restaurant business, and from the union when you put 20 years or more you get 50 k, if I would have taken the 50 k, my monthly check would have been 800 dollars a month, so I decline to take the 50 k , and get 1200 hundread a month for the rest of my life, and this way I didn’t have to pay taxes, this is what I did, another thing since I quit my job I have never got sick, no flu pneumonia or noting at all, so I’m happy.

@thommysides4616 2 года назад

Hospitals and Hotels are not good places as the windows are usually all closed and the AC just makes the air go round and round. Glad your out of jail....ha ha. Fly baby fly.....and soar until tomorrows tomorrow!!!

@krane15 Год назад

On I know that sick feeling in your gut all too well. I only regret staying at it for as long as I did.

@heythave Год назад

Is it a surprise when the hotels are smoke filled?

@brooklynbummer 3 года назад

I found that after age 55, it took an average of one year to find a good job. At 63, unemployed again, I decided that retirement was the best choice as many employers are reluctant to hire anyone near retirement age. I was tired of fighting the ageism common in America.

@GG-ry8dx 3 года назад

I here that load and clear!

@davidmagen415 3 года назад

Good for you I had enough sounds like you have to

@johnensslen 3 года назад

Not the federal or some State Governments they are looking for workers in diversified age bracket Just as long you work for them give them five years and you will have more income.I am 60 years of age and started back. I will give them five or more years of life at least at most another eight years.Life is short to waste you might have to go out work it to earn it as well something show you are good.

@brooklynbummer 3 года назад

@@henryvalero9235 The story is familiar and so damned frustrating. Being old, in America, is not an asset but a liability. Employers assume everyone wants to retire at 65 when many really want to work much longer.

@henryvalero9235 3 года назад

@@brooklynbummer From Lil Giant Yes. My mother had six children. Every one of them except me and the youngest, who is not yet 70, retired at 70 years old. I look the youngest of all of them. It amazes me that I could have had that problem. But I cannot figure anything else. It just doesn’t make sense. I never get sick. I have been in a hospital only because I was having babies or I was run over in a parking lot by a guy in a car. I competed with the youngest and the brightest-the cream of the crop at university. THEY did not know my age. Makes me mad. Oh, well. Haven’t thought about it since I retired nine years ago. Nice to feel I was not alone. Misery loves company. LOL 👍

@int53185 3 года назад

Ageism is very common in today's work force. I just turned 61, my co workers call me grandpa. They don't realize that they will be my age sooner than they think.

@davidmagen415 3 года назад

If they live long enough. I’m a big proponent of retiring early.

@davidkirk2554 3 года назад

Your last sentence is SO TRUE...

@int53185 3 года назад

@@davidkirk2554 They think that they will be young forever. Funny thing is, I thought that way when I was their age!

@phillipkelley3513 3 года назад

@ James Last...very good point. The years go by in a flash and then people always say where did the years go!

@badczech8485 3 года назад

Youth is wasted on the young.

@d2friezen226 3 года назад

Retired at 60+ onJanuary 1, 2020. Started my pensions at 60.5 with a little 401k kicker a few months later. I did the math and my break even point (early vs full SS) is 79+. It doesn’t make scene to wait another 4 years and 10 months to start SS. I am enjoying doing things I thought I didn’t have time for while working, spending money enjoying life. I’ve raised a family, work hard and saved money for this moment in time. I’ve filed for SS at 62 and can wait to start recouping some of my money. Retire as soon as you can. Enjoy life, family and friends while you can.

@roz6164 2 года назад

I am 71 years of age I took early retirement at 62 my first spouse died he makes way more money than I did and my spouse now is younger than me and sickly I get some of his ss it is too little can I file on descead benefits please let me know

@charlenesimpson9223 2 года назад

Good for you

@Jane5720 2 года назад

@@roz6164 I do not believe that you can file and get the deceased spouses SS once you remarried

@jamesjenkins3384 Год назад

I just retired at 62 also. With what's going on with our government I really don't know how much longer S.S. will be there.

@larrywinfrey8265 2 года назад

I've always had issues with all the "experts" that said you should wait until full retirement age, or even 70. First, it's based on actuarial tables so the population based results are the same payout. Second, they ignore how much you lose if you die early, If my dad had waited until 70, he would have collected zero dollars since he died at 69. Third, they always neglect the fact that for every $ I take in SS, that's one more dollar that I can leave in investments. That money will also grow, and unlike my SS, I can pass it on to my daughter. Finally, the obvious; I don't trust what the government will do with this fund.

@ronmorgan7565 2 года назад

Good points and well stated!

@morrispowell1524 2 года назад

The republicans are still trying to get their hands on social security funds. Ever since the bush/cheney admin.

@OhJodi69 2 года назад

They also do not mention that you're really not getting "more money" if you wait until full retirement. Your checks then include the money you did not collect at 62. Don't let the government hold on to your money for you

@DrSchor Год назад

@@OhJodi69 You are getting more money, a lot more, if you live past 85. What will you do for cash if you are healthy and 90? Bob Hope died at 100, George Burns lived until 100, Kirk Douglas died at age 103, there are 2 million people in the usa today who are older than 90. In 2050, there will be 10 million people older than 90. All those people will be getting more money. Why not you?

@OhJodi69 Год назад

@@DrSchor The odds are still slim that anyone will live that long. You do not get MORE money when you take SS the latest. Retiring early is the same amount of money, spread out over more years. If you take the money early, but have other retirement investments, you can take that SS money and invest it, yourself, if you want. Otherwise you're just letting the government have your money for years and years. You could instead save it, yourself, and give it to your heirs if you want. Put the money in your own bank account. Keeping it in the government bank account means you may never get it at all, and neither will your kids or grand kids.

@stevec3872 3 года назад

You can adjust your lifestyle to a reduced income but with no life or quality of life, extra income doesn't mean much. Best decision I've made was to retire at 62. I'm poor but have enough money to pay for everything with a good chunk left over. Best of all at age 69 I'm more healthy than at 49 and can enjoy my retirement.

@juliasoto6793 2 года назад

You are right.

@Grayman58 2 года назад

Me too iam retired and enjoying life best move I made . From Canada 🇨🇦

@DJ_Patent 2 года назад

That's a great point, too. Never considered - I'm an attorney - that's 7 less years of high stress on my body in my 60's. That can't be healthy.

@d2friezen226 2 года назад

Amen brother, I retire from a stressful corporate job that I worked late and went in early, many nights woke up at 2 or 3 in the morning stressing about what need to be done or get done that night or the next morning. I can’t tell you how much better I sleep every night and I’m sure I’ll live longer because of retiring. Get out if you can…

@l.a.raustadt518 2 года назад

I like it. Finding what works for you is the key

@rvtalltales9327 3 года назад

I Retired last month age 62, at this point my focus is on health not wealth. I have lost 10 pounds in a month, exercising regularly, life is good. People waiting to stop working are not delaying retirement, they are shortening retirement.

@dougb8207 3 года назад

That's a great way to look at it, shortening rather than delaying. I hadn't put it into that clear perspective.

@fredost1504 3 года назад

@@devincarroll2701 I think HE will be enlightening YOU.

@richardfowler3254 3 года назад

@Mac Neal SO sorry to hear that sad news, my brother-in-law passed away one week before his 59th birthday, tomorrow is not promised to us. grab what you can while you can.

@richardfowler3254 3 года назад

Kevin, great job on the weight loss, I salute your you new focus. I have lost 35# myself since Jan. 1st this year. I have finally decided to make my health a priority so I can play with my grandkids kids (whenever they show up). I want to be they "old man" that shows the kids how I do (and did) stuff...

@allee3476 3 года назад

Good going! A few years ago, I attended a retirement seminar where I learnt that the biggest expenditure amongst the retirees is medical expenses, to which I thought “not if I can help it.” I switched my lifestyle three years ago, lost forty five pounds, off blood pressure medications and viagra, have lowered the cholesterol and triglyceride levels, and cured my sleep apnea. My aim is to alleviate or minimize the need for pharmaceuticals and surgeries as long as possible.

@maggiesandoval749 3 года назад

Yes retiring at 62 while I still have the strength to enjoy life

@gregflores8959 2 года назад

Well said Maggie, I’m gonna do the same me thinks

@jonvan2206 2 года назад

Retired at 62, filed at 63 and 4 months to get 80%. Company wanted to get rid of the older workers so offered a buy out. So along with my pension of 38 1/2 years, plus my S.S. and some IRA money we do okay! Took the buy out money and bought a camper and truck and went prospecting, riding the Harley and visiting friends and relatives.

@mamaburr2963 3 года назад

I am so happy I retired at 62....When I turned 66 I started to have health issues....nothing real serious...My job was working outside, and it was physical...Working in the snow and the heat in the summertime was not easy....We moved from Queens NY to 55 plus active community in central Florida...Everyday I go swimming....golfing....play cards....and I love 💕 our community in Florida....No more stress....I know people who waited to file 65 and they passed away....We are not promised tomorrow.....or good health...

@mariarod6998 3 года назад

I totally agree with u. They take 285. 00 a month out of my as for taking early but u what? I love ❤️ glad l filed ealy

@christopherhennessey8991 3 года назад

Claimed at 62. Receiving Social Security benefits and my RN pension.,never looked back.

@thommysides4616 2 года назад

I turn 62 in Feb. My kids live in Winter Haven Fla. Been thinking about buying one of those trailers in a community, but many are too strict for my blood. I love my dogs...lol. God bless!

@DrSchor Год назад

You are not promised bad health or an early death, either. What will you do for cash when you are healthy at 95?

@ilikecontent2327 Год назад

@@DrSchor No kidding. I am ready to cover those expenses. These videos always try to encourage you to retire early and things can be okay for a while until the money runs out and one 1 year stint at a nursing home can wipe out savings and decimate any Inheritance you planned on leaving for your kids. I purchased a long term insurance plan in my 30's. I just upgraded it. I have just over $435,000.00 worth of coverage. It can be applied to in-home care, assisted living facilities, and nursing home care. Its with John Hancock. I got it through my state employer 27 years ago. My premiums only went up once in 25 years. $5.00 is all. I just upgraded my plan(no medical questions asked)to keep up with inflation. This premium is only $88.00 a month for me. Without going into details...I have invested, planned, did a pre-paid college plan for our son(6 years of college paid)paid off our home years ago. We are a middle class family with a moderate income. Most people can do the same thing. You just have to start early and be consistent. I am 63 and hubby is 65. We are retiring soon with no debt and pensions, soc. Sec. And supplemental income. And cash reserves. I am still working to 65. I am healthy and I am padding my retirement. We do travel and enjoy ourselves now. So you can have fun when you are working. Unless your job is crap! Then I would say get out! Just be careful or you will end up living in your car or a tent. 😊

@chains6558 3 года назад

I'm 58 years old and already have 40 years working in the same machine shop . To say I'm tired is an understatement . 4 more years , 4 more years , 4 more years !

@davidmagen415 3 года назад

You can do it. Hold on and count the days

@davidmagen415 3 года назад

I actually left work at 60 1/2 . Couldn’t stand the job anymore . Worked at T S A it sucked

@lesblack8036 3 года назад

You can do it!

@nelsonpquintana3432 3 года назад

Hello there: If I'm not mistaken, at 58 is the right time to start moving SOME $ from you IRA to a ROTH. I think, this way you won't end in a higher bracket at retirement. Check that out. r moving

@brianpreston8483 3 года назад

I have 32 years in a machine shop. I am waiting

@juanitamuhammad8776 3 года назад

I retired at 62. I was terminated from my job, and had no income for 4 months, until I received my first ss check. Now I just started work, but I am aware that I have a limit on earnings. I think I made a good decision. Thank you for the information.

@deborahbutler2703 2 года назад

My husband filed at 62 and is now 74. I'm retiring next year and also drawing my benefits at full retirement. He has been a great house husband. We made the absolute right decision . Would recommend it. Your presentation was very helpful to others undecided

@susancarter3864 3 года назад

Yes, my husband filed at 62 cause of cancer and past away at 66. At least he had 4 years of retirement.

@joanngennaro5095 3 года назад

I’m so sorry to hear this. We never know how much time we have! Prayers to you and family God bless!

@susancarter3864 3 года назад

Jo Ann Gennaro Thank you ☺️

@truthwarrior4412 3 года назад

Prayers to you. Your husband did the right thing.

@susancarter3864 3 года назад

Truth Warrior Thank you 😔

@scottrmclaughlin3495 3 года назад

RIP 🇺🇸

@whatwillbem6825 3 года назад

I’ve NEVER regretted filing at 62...tomorrow is promised to no one...

@bruced.370 3 года назад

Amen 🙏

@markaustin5269 3 года назад

Tomorrow was never promised to us at 30 either. They'll be people who collect at 62 who end up living longer than they anticipated.

@mikemcgown6362 3 года назад

@@markaustin5269 I didn't think I would live past 30, but I did. I had to go on SSDI at 50. I got full term benefits because I had 35 years of work history. I wish I could have invested more into my own retirement strategy, but now I just have to learn how to live on a fixed income.

@scottrmclaughlin3495 3 года назад

Once you retire there’s no turning back/on your SS monthly take home..?..!..🤷‍♀️

@scottrmclaughlin3495 3 года назад

@@markaustin5269 ~ that’s the primary reason why am waiting past 62 besides my union pension is over $44,000 a year and they wanna tax my monthly Social Security 23.97% ..?..!..🤷‍♂️ this is the law established in 1983..?

@OhJodi69 3 года назад

With a lower SS check you might qualify for many assistance programs, many of which are for people whose incomes are less than 120% of the poverty level. Rent assistance, energy, food, Medicaid, Medicare, free prescriptions, etc. Consider that not only have you worked hard all your life and paid into your social security and Medicare, but you also paid into these assistance programs with your tax money. If you qualify for programs that you have been supporting, you should get them.

@garyjones3142 2 года назад

Counting on a handout, no thanks!

@OhJodi69 2 года назад

@@garyjones3142 It's not a handout if you've paid taxes to support the programs your whole working life. You've invested in these programs just as you have invested in social security, medicare, the fire department, public schools, the roads you drive on. If you qualify for programs that you have paid for, why turn them down. Consider that the uber-rich pay far less percentage of income than the rest of us, and they recently got more huge tax breaks a few years back......all that tax money that they do NOT pay to the US, they DO use to pay for all their food, educations, homes, medical, etc. THEY get the handouts. They live off that money they should be paying in taxes.

@christopherallen9580 2 года назад

@@OhJodi69 immigrants get loads of benefits and have paid nothing into the system

@jeanne819 2 года назад

@@OhJodi69 you’re right on with this !! I worked many years and contributed toward all you mention. I was even told this by HEAP program employee - I’m getting food help now, heap help for intensely high oil bills and qualified for HERR federal program - in the past I rented my primary house out to obtain money and lived in different areas but since Covid I’m staying home

@billpasaki4769 2 года назад

Are you kidding? So you are on Federal welfare for the elderly, SS, and you want another handout? Get serious please.

@DEAH-01 3 года назад

I'm 55, a RN and sick of sick people. Trying to start a business doing what I love , which I have been researching . I can actually file for disability from a broken back, high blood pressure etc.. my dr's even recommended that I do that. My home is pd for ( valued at $430) no debt.

@yfa6244 2 года назад

You should get out of nursing as soon as possible. You may be making sick people sicker, while getting sicker yourself.

@gloriacedeno.2737 2 года назад

You shouldn’t be helping people if they’re making you sick!! Because your heart is in the wrong place 🙄 you probably decided to become an RN because of the $ 100,K a year income! 🙁🤦🏾‍♀️

@user-iu6bv8vu8o Год назад

Yes! I’m an RN & feel the exact same- I actually loved my job BUT- since COVID- it’s a very sketchy job. Unfortunately….I didn’t know you could file with High blood pressure! I have that & issues with my shoulder! Help any suggestions??

@krane15 Год назад

Sounds good. Good luck.

@mikenatera1018 Год назад

@@yfa6244 I love what you just started!

@neidedurant8428 3 года назад

File for SS at 62 because at 65 you could be dead then ........😵it did work for me ! Thank you for info !

@erinpeacexo1854 3 года назад

I filed at 62 and NEVER looked back. It was the best decision for me. I'm also working part time. Take the money when you're entitled to it.

@maryveney806 3 года назад

How many hours can you work?

@clicks59 3 года назад

@@maryveney806 you cannot earn more than $18,900 yearly before it effects your SSI benefit. Not sure what this equates to hourly. I guess it depends on how the hourly wage.

@maryveney806 3 года назад

@@clicks59 thanks so much for responding!! I have my appointment this Thursday

@zitawillingham4391 3 года назад

Same here

@lorihale129 2 года назад

Im 58 & have it planned to retire at 62 also...Its 500$ more a mo if I stay til 67..but Im tired of the rat race ..I want to travel & work pt not all the time...Im glad to see orhers advising us to go at 62!

@dukecitywifey 3 года назад

Hubby has been ill for over a decade. He is 61 this year. I turn 62 in 2 years. I plan on retiring at 62 so I can spend more time with him. Right now I work between 8-12 hours a day in a job with heavy lifting and a lot of physical labor. Grateful I can still do so.

@TheDisgruntledMechanic 3 года назад

Retired at age 56 two years ago. Already have 3 heart stents. I plan on taking SS at 62. There was never a question for me!

@thommysides4616 2 года назад

God bless you bro.... eat good, sleep well, and exercise....some at least. Don't be a couch potato...lol.

@ronnieking3848 Год назад

Can't you get disability with heart issues ...you may be able to collect your full amount.

@chipblock2854 3 года назад

You forgot one. I got out of prison at 62. It was sure great to have the money. Though it was far less then what I would have gotten at age 65, it got me through the first year after prison. I was able to get a nice place to live and once I started working, I got a car. I don't know what I would have done without it.

@zitawillingham4391 3 года назад

62 is the way to go

@thommysides4616 2 года назад

God bless you Chip..... enjoy that car of yours...lol.

@Last_of_my_breed 2 года назад

I didn't know they pay you to go to prison,🤔 is that for everyone? I thought the idea of prison is for punishment.

@TheMinot60 Год назад

@@Last_of_my_breedjudge not. Obviously he was judged, sentenced , and released according to the law. You are casting stones from a glass house.

@AnaPerez-co9ch 3 года назад

I had to do a disability retirement at 49, to fight cancer, I was not ready mentally and economically to make the move. But I’m enjoying my days off when my health permits. God will provide.

@oceandreamer1958 2 года назад

🙏🏻🙏🏻🙏🏻

@gwenmarie7311 2 года назад

Amen 🙌🏽🙌🏽🙌🏽Yes he will

@krane15 Год назад

God helps those who help themselves. But if you take one step, he'll take two.

@donnapuckett4992 3 года назад

I was let go from Federal employment because of chronic health issues, so, I filed for SSD and eventually won and I am only 55.5, so its good to know that I can have 100% benefits at age 62, thanks!

@danielkey1463 Год назад

Investing in the stock market is the best option to make a passive income. Virtually all the markets are crazy, most people pay more attention to the shiniest position on the graph, I’m keeping a diversified portfolio.

@raymondbarnes5264 Год назад

who would you endorse? I've been in the shadows for too long.

@danielkey1463 Год назад

@@raymondbarnes5264 'My consultant is 'MARTHA ALONSO HARA", look her up online if you care for supervision.

@raymondbarnes5264 Год назад

@@danielkey1463 Thank you so much! Found her webpage and left a message. Hopefully, she responds.

@danielkey1463 Год назад

@@raymondbarnes5264 Welcome

@mayacho4910 Год назад

To manage investment risk, consider maintaining a broad diversification of your investments that reflects your personal risk tolerance, time horizon, and the nature of your financial goal.

@armindagracia5857 3 года назад

You just don't know how much longer you are going to live, I rather take it at 62 and enjoy it while I still can

@billybell6950 3 года назад

Retired at 62 and 3 months. Could've made alot more money 💰 by waiting. Buried a 18 yr old grandson and a 77 yr old father . Time is much more valuable than money 🤑. If you can live on your income. Don't look back. Enjoy .

@charlesworthyjr7031 3 года назад

Can't wait about to be 61

@donnakesler1408 3 года назад

Sorry for your loss 🙏

@markrothenberg9867 3 года назад

Very sorry for your loss.

@michellebartel 3 года назад

❤️🙏🏻❤️

@davidmagen415 3 года назад

All my life I saved for retirement and I made it.

@anthonydiomede4818 3 года назад

I filed at 62. Thanks to a 38year career I was able to do that. I had lost employment and with little debt it made total sense. To wait till 68 was not a plan to wait for 350 a month more. Yes I am single. Thanks for the information. Hopefully the new adjustment makes this an even better decision.

@andyrme2 Год назад

the government like to dangle that extra money in front of people to get them to work longer cause they know most will be dead before getting anything

@barbaramcdaniel463 Год назад

I filed at 62. I’m 66 now. I have low income retirement because of this. So Grateful for those few c-notes I receive. 😌🙏💐

@stevemeloccaro891 3 года назад

i worked for 47 yrs. and theirs not a day in my life i don't thank God i don't have to work + I'm not paying for health, Vets take care of that, what a blessing make a lot less but have so much more

@javelinaflips-annie5000 3 года назад

Thank you for your service and sacrifice Steve

@AIHTube1 3 года назад

I’ve had 2 brothers die before age 58. Longevity is not in my family’s genes. But that’s ok. I’m going to enjoy life while I have it. God knows the number of my days.

@gphilipc2031 3 года назад

File early ... takes 10 minutes on the phone.

@laflower6082 3 года назад

Speak LIFE into you life n the curse will be broken in Jesus name💯🙏🏼✌🏽

@markrichardward5504 3 года назад

@@laflower6082 LaFlower took the words before I could.... Choose life. Life + death are in the power of the tongue. Ask Jesus into your life, repent of your past, and renounce the sins of your ancestors, and start as a new creation in Jesus. Forgive your parents, and honor them; that you may be given long life.

@laflower6082 3 года назад

@@markrichardward5504 amen💯🙏🏼

@theresewalters1696 3 года назад

Same here.

@richardkluesek4301 3 года назад

Many who worked for 40 + years but delayed filing till 65 - 70 never made it, died, and never collected a dollar. And many who planned to and desired to be working were let go anyway. Getting rehired is a long shot after 40, 50, 60. Unless you have a connection or are starting up your own enterprize.

@krane15 Год назад

My thought exactly. Who want to go job hunting in the 50,60s? I didn't like job hunting when I was young.

@sammencia7945 Год назад

@@krane15 Every year 2% take it at 68, 2% at 69 and 10 % at 70. 14% 68 to 70. By your "reasoning" no one lives to those ages. Clearly they do.

@krane15 Год назад

@@sammencia7945 People can live to be over 100. Now consider the difference from being alive and LIVING. What good is that money if all you can do all day is sit in a wheel chair catatonic. On the other hand, I guess you can use it to hire somebody to change your diaper.

@donnawhite4621 3 года назад

I retired at 62 also. Took care of my mother until she passed. I'm glad I did. Can still work a little here and there and doesn't affect my benefits.. Then along came Medicare.!!

@shyrelrandle6283 3 года назад

I am filing at 62 I left work at age 59 after the pandemic. I filed for my state retirement at age 60 and I have never regretted it. I am enjoying life.

@MaryKnasinski 3 года назад

My story exactly.

@cathypressey7876 3 года назад

My story too! Enjoying retirement at 60.

@peggybinkley7870 3 года назад

What do u do about insurance

@shyrelrandle6283 3 года назад

@@peggybinkley7870 I was already on the policy of Federal Blue Cross Blue Shield 🛡 with my husband for health and I kept my dental 🦷 and vision insurance for 18 months from the job I retired from.

@MaryKnasinski 3 года назад

@@peggybinkley7870 I could keep my insurance too - very lucky that WI allows the conversion of unused sick leave.

@tracygladen6993 3 года назад

For 7 years I had a stressful job and decided to resign last year. I had been doing 2 full time jobs for almost 4 years. At the time of my resignation, I was doing 3 FT jobs and was told to deal with it. I decided to retire one month after I resigned. I had a pension, 401k and Roth IRA. I have been living comfortably on my pension without using my other retirement accounts. I just turned 62 and have been debating whether to file for Social Security or wait till FRA or 70. I'm leaning towards filing at 62 and invest my social security payments.

@janiepecina3057 3 года назад

Thank you. You answered so many of my questions , my husband turned 62 in Jan. And we are still pondering about it was such a hard year.

@maxmoody3074 3 года назад

You missed the most prevalent reason. Been working for over 40 years, tired of spending 2 hours a day on the road to and from everyday, tired of the daily drudge, tired of the drama, tired of the alarm clock, tired of your feet killing you, etc. etc. I think to most of us minutes are more important than pennies. When I'm done I won't regret it and I won't look back. enough is enough.

@randykatterson2660 3 года назад

You got that right .enjoy life.is worth more than nickels

@dantecasas7847 3 года назад

True

@Mom_sBasement 3 года назад

If you spent two hours on the road every day, that’s on you.

@davidkirk2554 3 года назад

You sound like me...i havent pulled the trigger on retirement ...but im close...,

@1981menso 3 года назад

I was working from home the last year, now they made us go back. The traffic is already getting bad and there are so many aggressive drivers out there. Been a month and I am already so sick of it....

@lindajackson4631 3 года назад

I filed at 62 and am glad to not have to worry about money anymore

@languso13 3 года назад

Shiiit I'm 31 and planning on retiring in two years abroad! México here I come! Fucc working for the mann.

@annheckenbach7358 3 года назад

I filed for my deceased husband's benefits at 62. I had an interview with an sympathetic woman by phone, and when I got my benefits, I was given the full amount. I was stunned.

@thommysides4616 2 года назад

WOW.... somebody's looking out for you....lol. Amen.

@josephmgomez3921 2 года назад

Praise the Lord....I hope I get the full amount when I retire at 62, I'm a 58 yr old Widower.

@josephmgomez3921 2 года назад

What is the full amount if I may ask?

@suelovingstitches2038 Год назад

@@josephmgomez3921 you will if you had married for 10 years.

@jamesgrinder2491 3 года назад

I believe that what we think we need vs. what we actually need are many times 2 different things. I was prompted to retire at 62 because of some personal circumstances. I don't regret it and I'm very happy. I respect Mr. Carroll's honesty and open mindedness. Too many so called guru's try to tell us to retire at 70 and we must have at least 1 million dollars saved. For the vast majority of us, that's simply not reality.

@dreameryoung38 3 года назад

Single with health issues is why I'm pushing for 62

@tood6459 Год назад

I just turned 50 and am now obsessed with planning for retirement. I've subscribed and am looking forward to your help and wisdom, as well as learning from others that comment here. Thank you!

@bindig1 Год назад

Devin, I want to thank you for your videos. I've had so many questions and concerns about Social Security benefits. You have answered and explained every single one. These are by far the best videos out there. Thank you again

@slyquilter 3 года назад

I have chronic back pain and I’m tired of the craziness on my job. I’m retiring June 30 at 62 I will start receiving SS In August and I’m going to work for my son’s business part time remotely. I’m moving to NC buying a house where my dollar can go further. My husband and I want to enjoy our retirement together and time is not promised. My father put in his intent to retire paperwork and passed before his retirement. I think about that all the time so God willing I’m going to start my retirement as soon as I can.

@philipberger621 3 года назад

Sounds like a good plan. Just be aware of the limitations on earnings while collecting SS. You could find yourself paying back $1 for every $2 you earn over that limit.

@lauralampe1664 3 года назад

You only have 7 weeks to go on the job...good for you. Congratulations on your upcoming retirement!

@krane15 Год назад

NC was on the list of Top 10 states to retire in a few years ago.

@gorymarty56 3 года назад

I filed because I got burned out by working retail and dealing with people. Lol. I jumped on retirement as soon as I could. Lol. I never made enough to invest, been struggling all my life. Best decision I ever made.

@marygeiselbrecher8129 3 года назад

I’m totally with you, I have been working retail for 40 years this August. I turn 60 in November! And I’m ready to retire now! My only concern about retiring at 62 is medical insurance. I provide it with my job. My husband is a few years older and started drawing SS a couple years ago at 62. There is a lot to consider.

@gorymarty56 3 года назад

@@marygeiselbrecher8129 check with your state to see if you qualify for state medicade and also apply for Snap. That helps me.

@mbohn2526 3 года назад

@@marygeiselbrecher8129 I’m 55 and my husband turns 65 in May We are semi retiring because he will be on Medicare. I’m getting a major medical plan with Medishare That’s how we are doing it.

@raffaellosanti9806 3 года назад

Are you a twin sibling of mine? One more nasty demanding tourist and I’ll burst. Nothing but working 5-6 days a week and nothing but arthritis to show for it. You may have just convinced me to take a simple little part-time, file before 65, and have a life with lower blood pressure!

@williamemmons8816 3 года назад

You have provided me with information I had not even considered. I am 62 headed to 63 . I am on my second ankle fusion in a year to be able to continue to work. Doctors have suggested I apply for disability for years. Time to do some research, thanks for opening my eyes to more possibilities.

@memeco50 3 года назад

51 and planning on retiring at 62 too. An older friend did it and he believes he made the right choice.

@jamescunningham4180 3 года назад

I'm retiring at 62 just past 60 I got retired by covid. And at 60 I got a pension from the plumbers. Now that I'm off for over a year. I'm good I'm filing at 62. And living my life 🧔👍🇺🇸

@jeffs.692 3 года назад

The Gov. wants ya to wait hoping you don't make it. I had 2 brothers that didn't, both died of cancer. One was a year away the other received a few SS checks.If ya take total of early payments then divide the difference of you full retirement age payment, In my case I'll have to live to my early 80's before I start losing money. My wife & me started planning in our early 40's to retire at 62 & 1/2. That happend in January 2020, No morgage, No car payments. We are now living the dream lol

@PeterSmith-ko7xh 2 года назад

I started working full-time when I was 15 and a full-time time as well as a part-time job during and continued for several years after I graduated. Now at the age of 54, I cannot wait until I am 62 for me to smell the roses along my traveling roads of retirement. 😁

@Unclmikey3 2 года назад

When I was 59 and planning to retire at 62, I became temporarily disabled. After a couple of months I realized that I wasn't going to return to work, so I retired at age 59 and 3/4. My pension is generous but it was still pretty lean times until I turned 62 and filed for Social Security Retirement benefit. So I'm one of those who retired earlier than planned due to a disability.

@songsalon7868 Год назад

Could you have collected SSDI

@krane15 Год назад

I'm in the same boat and trying to hold out, but a voice keep telling me not to wait.

@Brian_Homer 3 года назад

I'm filing at 70. I'm 59yo and retired. I've been able to save and invest well enough, that I will be ok, financially, will into my 70's or early 80's.

@MC-vg1tl 3 года назад

There’s a big “if” you make it to 70! Tomorrow is not “guaranteed”.

@-Stop-it 3 года назад

I’m with you Brian. I’ll be doing some Roth conversions until 70 to lessen those IRA RMDs.

@endirrwiggins2494 3 года назад

You need a calculator to project amount paid compared to retirement at 66 vs 70. You would be surprised. Collect it now.

@blueskiesnm5412 3 года назад

@@endirrwiggins2494 We in same boat. Calculator was obvious to wait til 70. Our grandparents lived to 100.

@Gagaloon 3 года назад

I retired at 62.1 and I am so glad.

@steved0123 3 года назад

Work used to be enjoyable. That ended well over 20 years ago. Then it became one irritation after another used to justify pay and benefit freezes then cuts. Artificial guilt indoctrinated into workers to justify shafting them!

@brianwinters5434 Год назад

I started collecting social security at 63. I did it after taking my deceased wife's survivor benefits. That allowed me to take social security a year later than 62. I started at 63 because my mom died before reeving any social security as did my dad and my grand father.

@cwinn414 Год назад

I believe there’s an added benefit to this as well. You can also switch to your own benefit at 70 which should be more

@ginaf2103 3 года назад

I'm 65 yrs old, and l filed online in Jan 2021 -- 4 mos before l wanted ss to begin and 9 mos before full retirement age which is 66 and 2 mos. I retired 4 days ago and my 1st ss check will be mid April 🤗

@renaesutton3145 3 года назад

Congrats! Now go enjoy your freedom!!!

@kathybost1879 3 года назад

Congrats! Retirement is awesome and I hope you enjoy it. I retired in 2019 and love it. My rules for retirement are 1.No debt 2. Have something you enjoy doing- for me it's quilting and card making and reading.

@vernt4583 3 года назад

Yes I retired at 64! Worked since I was 16 years old and I don’t regret it!! I have lots of friends and family that worked and didn’t live to get a dollar of ss !!! So sad. I just had a school mate passed away two weeks ago and he had just turned 66 and worked on the same job for 46 years!!!

@minutewithmark7564 3 года назад

Congrats to you Gina🥂 I am single too and will hit 61 in a few months. My brother(hardest working man I know) Retired last year at age 62 and 30 years working in steel plant which was unionized. So, he gets Full Retirement from them too. Anyways, again Congrats and enjoy retirement!! Remember that Age is Just a - Number. It is a person’s Attitude & Outlook on Life that Matters🙃

@scottrmclaughlin3495 3 года назад

@@minutewithmark7564 ~ your brother that worked union is he paying taxes on his Social Security because his pensions too large/because there’s two different scales for that tax base..?..!..🤷‍♂️

@evanleenewcorn4521 3 года назад

Will be 62 in October 2022. I am considering taking Social Security, working Part time 15 - 20 hrs per week. My wife is 11 years younger and we always used her insurance. We have no debt, and we can do well and not touch our investments… Life is short and spending time with kids & grandchildren 🥰

@sduk6270 3 года назад

I took it at 62. No regrets. Being debt free and living in a low tax area in a state with Medicaid expansion is key. Devin used 30,000 words to say less.

@nelsonpquintana3432 3 года назад

Work your #s. And make a proyection at 72 when you have to get Minimum distribution from your 401k. Add the part time income , yhe withdrawal from your 401k and add 50% of SS benefits, see if this provisional income will make your SS Benefits taxable.

@Mikheno 3 года назад

My wife and I waited until 70. We doubled our income by waiting and I actually liked my job. I earned way more by working from 62 to 70 and of course the benefits will be with us for a long time. Anyway, to each his/her own.

@johnchandler1687 3 года назад

There's the rub, most of us hate our job. The stress is actually shaving years off our lives.

@red9man2130 3 года назад

bet me! our economy is on the verge of collapse!

@stevesmithston8914 3 года назад

I want to retire at 62 but I cannot until Medicare kicks in. poop! I put a lot of money in my HSA but I found out I cannot use it for insurance premiums only the deductible.

@johnchandler1687 3 года назад

Yes, it is. Back in Carter's presidency they passed an emergency monetary law that allows them to open all safe depository boxes and confiscate all precious metals. Also, if you've bought gold they know you have it and will come after it. So you're not protected from hyperinflation like the people who are selling it claim.

@raustadt 3 года назад

👍 Very Good Job 👍

@roxannewhite3360 2 года назад

This was very helpful. I file at 62 (wk part time because I was lay off ) and then the month I received my SS check I got cancer and This was the best decision I made Thank you. I shared this with my family and friends.

@Gary-pogi 3 года назад

I will file 3 months before I turn 62, I have 2 small children and my family max is 5k thank you

@countrycandle9837 3 года назад

ABSOLUTELY MAP115, YOUR RIGHT. I filed at 62 also and although you take a hit to me it's worth it in today's corporate America. As you reach a certain age they try to get rid of you anyway So if anybody is thinking about retiring at 62 to go for it. Life is way too short.

@rosemariealmero1214 3 года назад

Thank you for your generous heart to teach people like me to be able to grasp the dynamics of SS benefits. My question is.... what is the difference between disabled and health issue ?

@mikeflair6800 3 года назад

I am a person who likes control (not personal, I was an internal auditor type at work)...and I almost always say: 'take the money and run at 62', if extra you can always invest it and of course I can match or beat the implicit increase in the payouts...it worked out well for me.

@DrSchor Год назад

Interesting reasoning. When do you not say take the money and run,

@truthwarrior4412 3 года назад

Devin, I have listened to your great advise from the beginning on UT. I started to draw at 62 after a great career. I immediately found a good “retirement job” that I didn’t have to pay much in penalties on. It has worked out great! People my age have asked me when to start drawing. First I tell them to subscribe to you on UT for the best expert information. Then I tell them something that I feel is critical. Tomorrow is NOT guaranteed to anyone. If you are in your 60’s and you decide to wait until 66 or 70 to draw 20% of the people will die, are you a gambler? Not me. I remember the old saying of a bird in the hand is worth two in the bush. Thanks Devin! I always look forward to your posts. 😉

@truthwarrior4412 3 года назад

@Devin Carroll Hello Devin, the main reason I began drawing at 62 was my fathers death at age 58. He was a model citizen and as a Marine sergeant fought in the Korean War where he was wounded 4 times. He never saw a penny of what he put in all of his working life. I remember reading a statement of FDR about consider SS as your own private bank vault. He forgot to add, unless you die. I am 66 now and feel I made the right decision to draw at 62. I am several years ahead of the game now. Thank you Devin for being an honest caring man.

@daevm946 3 года назад

An all-important revelation is that, except for the one-time funeral/death benefit of $255, one gets NOTHING if one dies before filing for, and collecting social security benefits. Don’t be overtaken by greed. Therefore, the earlier the better. Some contribute hundreds of thousands of dollars, or even millions to social security but all that is lost upon death!

@DrSchor Год назад

80% of people will not die and continue to receive the larger checks. Clearly, you are not a gambler because the odds are way in favor of waiting.

@RichRich1955 3 года назад

I've worked with some older people who retire-in-place. They do nothing in the workplace but still get a paycheck.

@Diana-yt2sv 3 года назад

We had a lady who retired last year at 86. She could outwork the young people.

@platoon1081 2 года назад

Interesting i'm 61 and bust my ass every work day of my life. My experience has been that I find it's the youngsters I work with that have no work ethic; act entitled to being paid well just to show up.

@beatrisafomina1113 3 года назад

Retired at 65 and still working, never know what’s going to happen tomorrow, so additional $ is always welcome

@davidkirk2554 3 года назад

I have stood on my feet on concrete floors wearing steel toed boots for over 40 years...62 cant get here soon enough...bye bye corporate dummies...

@brendaradcliffjohnston2340 3 года назад

Know what your talking about.

@teresitap5778 3 года назад

Hope you can enjoy yourself once you retire.🙏

@davidmagen415 3 года назад

I couldn’t wait to hit 62 so I could retire. I can’t imagine ever going back to work.

@maskboy20113 3 года назад

That's my plan too.My car and house will be paid for then.62,

@Sjrick 3 года назад

How old are you now ?

@davidmagen415 3 года назад

@@Sjrick I’m 65 now but left work at 60 1/2 . I couldn’t take anymore and never looked back✌️

@Sjrick 3 года назад

@@davidmagen415 did your monthly income go down? I would lose 1000 per month. Plus I live in NJ where the taxes are ridiculous

@davidmagen415 3 года назад

@@Sjrick I live in Ohio where the property taxes are very high, now they want to raise taxes retroactively to last year. The schools were closed, the government was shut down, there should be surplus in stead on picking my pocket for more money

@cecho9367 3 года назад

My father retired at 47 with a great pension since he had a great career as a police officer. He retired in 1993 making a 60k annual pension at the age of 47. At age 62 he began to collect social security. I always told him he should have waited till he was older. Fast forward 3 years, he developed metastatic lung cancer and passed away in just 3 months after his diagnosis. He collected SS For 3 years.

@stevefarris9433 Год назад

I hope your Mother was able to get spousal benefits for the 3 years and now survivor benefits after your Fathers death.

@krane15 Год назад

Sorry to hear about your dad, but that's one reason they encourage us to wait.

@elaineash1557 2 года назад

Devin, thank you for a wonderfully informative video. You make more sense than any other financial video I've watched. And you don't even have any music or dancing! Seriously, tho, you have a talent for conveying information. Bless you.

@mikecamilli1047 3 года назад

I was forced out of my Corporate job at almost 62. After almost 40 years in the Corporate world I was done! I waited a year and a half till I filed for Social Security. So glad I did! Divorced daughter and our 2 grandkids moved in with us and we are needed in the home to watch the kids while daughter works. Obviously need the Social Security income!

@rosablevins9067 2 года назад

I do not understand? They say that the more you wait it is better or till full retirement age which is 70 or less depends of your age group or credits earned. But what about if still you are healthy to keep on working but something happens like loosing your job etc No income before you reach the full retirement .

@andyrme2 Год назад

@@rosablevins9067 when i started working the retirement age was 65 and it still is as far as i m concerned.. most folks i known never got to 70 and some barely made 65..

@swisstrader Год назад

Good for you taking care of your daughter and the kids!

@nevillecampbell8019 3 года назад

Devin, Great video. We plan to retire at 62 based on several items, I have retired from the military with a pension. I am currently on my 22nd year of my second job where I have a substantial 401K and a pension. We also have two Roth IRA's with a independent Investment firm and with doing all the math, the break even period for taking social security early is a substantial amount money we could use to enjoy life while we can. As you said retiring early is not for everyone, but with out situation it makes sense even though the government try to do everything in their power to scare you into not doing so even if you can. Thanks again for all the awesome videos on the subject matter.

@orthodiva7487 3 года назад

My hubby and I are pretty much in the same boat as you. I originally thought of taking SS at 70 but after seeing all these videos, there’s no reason to wait. I can let our savings grow and leave it to my kids. My kids won’t get what I put in SS when I die.

@robertcunningham5043 Год назад

FINALLY someone has mentioned something about my situation. I retired at 62 with a preteen and collecting benefits for him. Being in a STRESSFUL job which was shorting my life was not beneficial for my situation. So happy I retired a couple of years ago.

@ktgodwin100 2 года назад

Excellent video. Thank you for sharing. Thankfully, for my husband and me, it will be 65. We are healthy, both work, like our jobs at 61 years for him and 60 years old for me. We are for the most part healthy, still active and living smartly.

@armyvet8978 3 года назад

Everyone's situation is different but do the math. In my case, the difference between starting at 62 instead of waiting until 70, I would only get 400 dollars more per month. I calculated that I would have to live until I was 95 to re-coupe the $110,000 that I will get for the 8 years I started early.

@RexMoore58 3 года назад

Recheck your math. The break even should be 11 to 12 yrs.

@terrygoodwyn9715 2 года назад

By the time you get to 95 you might not remember how much you gained.....may God bless you in your decision ❤️🙏🏾

@td4611 3 года назад

Since I’m not planning on living past 70, I’m definitely filing at 62.

@cesarnarro6013 3 года назад

Growing up I always thought 65 years old would be my retirement age but by the time I reached 65 it had been raised to 66 and 2 months. Screw that, I retired at 65. Didn't lose that much by retiring early. Paid off my house many years ago. Once I finish my car payment in a couple of years I'll be doing better with my limited funds.

@chefleo3436 2 года назад

@@devincarroll2701 ?

@rosablevins9067 2 года назад

Let me ask you, did you file as they indicate through their form 2 months before your birthday or it doesn't matter., what about two months after your birthday? also do you have to file for Medicare? Can you opt out if you are not going to use it? Or you have not choice. I know they raised up till 66 and 4 months.

@destinyreturns4885 2 года назад

I was let go from my job last year at age 60 and decided to simply retire and call it a day, as I was in sales and really just can't see myself starting all over again from scratch building up a new product line even though I have a good customer following. Fortunately, I'd set aside some cash to get me through and I do have rental income and a 401K that I can tap into when the time comes that it's needed. I appreciate your perspective and info, as I'm now looking into the possibility of collecting SS at age 62, and doing as much research as I possible can.

@shirlynssleeve4661 3 года назад

Retiring on Friday @ 61 & will be waiting for my first check. A few hundred dollars versus my mental & physical health is a no brainer. My Retirement package is healthy as well as my Mr carries our insurance. I have no health issues and am looking forward to 40 more years!

@clemzahrobsky2137 3 года назад

i retired a 60 took SS at 62 and i am now 87 in great health and never looked back. my dad died at 54 and never collected. if you live till the age the govt says the average male lives no matter when you take it you will collect the same amount of $$$. the govt is not stupid.

@mechellebass2845 3 года назад

That is how the age "65" was determined. In the 30s when this started, men did not live to 65 very often.

@thommysides4616 2 года назад

God bless you old timer.....keep ticking and make them have to bust the bank for ya....lol.

@ChristysChannelYall 3 года назад

I’m 48 and wish I could file now! I’m a VERY tired nurse

@dianepettis8438 3 года назад

Thank you so much for all you have given. It truly is appreciated💖💖

@donzucca264 3 года назад

Hang in there Christy. I’m a 58yo nurse who’s planning to retire at 62. The 40s can be a challenging decade but it gets better in the 50s

@idolhanz9842 3 года назад

My wife is Asian and is ready to retire next year , age 62. She did well as I did and so did the kids! Our net worth is 1.1M and she and I retire with 6 sources of income (includes both of our ss receipts).

@bluesrocker7863 3 года назад

I hear you Christy Blocker. I’m only 43 and I feel the same. a VERY tired nurse too. Sorry.

@marieflorsaltarin6636 3 года назад

Ditto. Can’t wait to retire as early as I can.

@b767greg Год назад

Great information! Here is a scenario that concerns me, and makes me want to take my Social Security at 62. Means testing. I max out my FICA in the first 5 months of every year, so that tells you what kind of income I make. I am concerned that means testing will become an issue when the Social Security trust fund starts to become so stressed that Congress needs to do something, and means testing is a real possibility in my mind, so take social security as soon as possible and hope to be grandfathered in. Just another opinion on taking it early.

@reneathompson4963 3 года назад

I retired early due to my husband’s health. I have not regretted early retirement nor do not miss corporate America.

@kleekblanco 3 года назад

I'm retiring at 59 (13 more months!) and plan on getting SS at 62. Although I will not need the income because I will be receiving a pension, I will be placing the SS payment into the stock market and will only be withdrawn for emergency use only. This money will really be for my children after I pass.

@michaelh7527 2 года назад

My uncle filed at 62. He retired and didn't need social security for living expenses. He puts the monthly check into a very aggressive even high risk investment account. I don't know how it's doing, but he says it works for him

@richardkluesek4301 2 года назад

Hope he is prospering as an investor.

@olppsounds1149 2 года назад

Thank you for the info. I did take it early, 62, not because of health, because I wanted to explore other avenues of revenue, namely Voice Acting, COVID lock down allowed us explore our options for SS. For a while I was thinking I made a poor desicion, filing early; after our research and this video. We made the perfect desicion for US! Look forward to updates.

@krane15 Год назад

COVID through a monkey wrench in a lot of retirement plans. You get displaced at 62 not many are looking to find another job at that point.

@vincentzincone8012 3 года назад

In 2018 at 62 I got down sized. Shortly after I found a new job then had a temporary health issue and decided to take ss at 63. I had savings but not what I needed to completely retire. I'm single and found a decent part time job to supplement my SS. With covid I got laid off again but this time with the fed supplement unemployment. My parents passed at 61 and 71 respectively. Now at 66 I'll get another pt job soon! I figured with my family history it worked out better to take SS early. I'm glad I did it and didn't risk not getting ss at all!

@maryveney806 3 года назад

How many hours are you able to work, thinking about filing, will be 62 in July?

@vincentzincone8012 3 года назад

It's not the hours! It's the amount you make over $17500 and change. Anything over they take $1 for every $2 you make until your full retirement age. I my case it's about 66.

@onlywenilaugh6589 3 года назад

Not sure why the government has to make it so complicated. 2:36 #1 Need Income 4:38 #2 Single Health Issues 5:42 #3 Survival Benefit 7:32 #4 Minor or Disabled Children 8:56 #5 Spousal Issues

@janiepatock6193 3 года назад

It was not an option for me. I was downsized from my job at age 61 and sent out 100 resumes and never heard back from any of them! I had some savings (thank God) and had to support myself for 9 months until I turned 62. It was horrible!

@PatriotSteve Год назад

do you have other money to supplement SS? How are you liking being retired?

@krane15 Год назад

I know that feeling. Its not the type of thing you want to have to go through at this point in your life.

@geoffc376 3 года назад

It all comes down to one simple point: How much $ do you need each month to survive.

@letshunt8992 3 года назад

I retired at 58 three years ago. Will be taking SS starting next year. Worked for over 40 years and have a nice pension so maybe I’m one of the lucky ones. As many have said here, it is great and I have no regrets at all.

@MK-su6eg 2 года назад

Retired in 2016,30+ years public high school teacher, and a alumni of school that I taught at, coached football, track, etc. and still living in the community. Just made 62 and thinking of collecting ss.Not bad retirement plan, and also grateful for my career and family. We are the LUCKY ones, actually my sister retired early,a teacher too, and when comparing our checks, mine about 1k more , she says, IM LUCKY!!! I respond nope, I worked HARD and deserve everything that I got coming!!! PEACE! I can relate!