Social Security provides a lifeline by providing financial assistance throughout retirement to many individuals. Choosing when to begin receiving benefits is one of the most significant choices that retirees must make. While full retirement age (FRA) and delayed filing have their advantages, filing at age 62 is a popular choice for many. Why? Because it allows retirees to access their benefits earlier, providing financial and personal flexibility. We have mentioned the 7 Top Reasons To File Social Security At Age 62 so that you can get the maximum benefits. Retiring at right age is best decision to collect the pension payments. However, all of you must qualify through the Social Security Benefits Eligibility Criteria 2024 to see whether you can get the pension benefits or not. Moreover, you must be aware of the COLA Increase 2025 due to which all the benefits will increase in the coming days.

7 Top Reasons To File Social Security At Age 62

By receiving benefits sooner, you can supplement your income and better plan your retirement. This flexibility allows you to avoid depleting personal savings or investments too quickly. Early access can be a lifesaver if you wish to downshift from a demanding career or retire earlier than planned due to personal reasons. By starting benefits at 62, you gain a reliable source of income sooner, reducing reliance on savings or pensions. It is among the one of the 7 Top Reasons To File Social Security At Age 62. Having Social Security income sooner provides peace of mind in the event of unforeseen needs, such as house repairs or medical bills. There are many Black Friday 2024 Deals going on at various stores and you must get something for yourself.

Social Security Benefits At Age 62 Years In 2024

About	Social Security Benefits At Age 62 Years In 2024
Who Gets Social Security	Made for people with disability, blind, aged.
Eligibility	Must be above 65 years of age.
Payout Dates	Depends on your birth date.
Government	America
Financial Year	2024
Methods to get	Online or offline
Category	Finance
Resources	https://www.ssa.gov/

Social Security Benefits Eligibility Criteria 2024

If you want benefits from SSA then you have to meet Social Security Benefits Eligibility Criteria 2024. Some of them are listed below:

• Are at least 62 years old and want to retire.
• Unable to work due to disability.
• Lost a spouse or your child lost a parent.
• A US citizen is required.
• Living for nearly ten years in the United States.
• During your working years, you must pay Social Security taxes. 
• Social Security is directly linked to your work history.
• Unable to pay necessities like for food, clothing, home and more.
• Your birth year decides your complete age to retire.

How To Claim Social Security Payment Benefits In 2024 From SSA

There are various methods to Claim Social Security Payment Benefits In 2024 From SSA. A list of a few of them is as follows:

• Apply Online: By creating or signing into your My Social Security Account, you can submit an online application for retirement benefits. 
• Apply By Phone: You can call at SSA office, Monday through Friday from 08:00 a.m. to 07:00 p.m. 
• Apply In Person: Contact the Social Security office that is closest to you. Before reaching there, make sure you apply for the appointment. 
• Apply for disability: You can file for the disability claim online, offline or by reaching your nearest local Social Security office. 

Top 7 Reasons To Claim Social Security At Age 62

If you’ve crossed 62 or at 62, you can fulfil your basic needs by applying to the Social Security Benefits. Top 7 Reasons To Claim Social Security At Age 62 are mentioned below:

• Early Access to Benefits: One of the most significant advantages of filing at age 62 is gaining early access to your Social Security benefits. At 62, you become eligible for benefits, even though the amount will be reduced compared to filing at your FRA.
• Financial Stability in Early Retirement: Filing at 62 can provide much-needed financial stability, especially if you have limited sources of income. Many retirees find that Social Security benefits bridge the gap between their expenses and other income streams.
• Maximising Time to Enjoy Retirement: As you age, health conditions can limit your ability to fully enjoy retirement. Starting at age 62 will allow you to travel, engage in hobbies, and spend time with loved ones while you’re still healthy.
• Break-Even Analysis: When It Pays Off: The break-even age is the point where the cumulative total of benefits received at age 62 equals or surpasses what you’d receive if you delayed filing.
• Avoiding Uncertainty of Future Benefits: The future of Social Security is a hot topic, with concerns about funding and potential benefit reductions in the coming decades. Filing at 62 guarantees you’ll start receiving benefits while they’re still fully available.
• Reduced Workload or Health Challenges: For many, the decision to file at 62 is driven by health concerns or a desire to reduce their workload. Physical or mental strain may make it impossible to continue working full-time.
• Benefits for Spouses and Dependents: If your spouse is eligible for Social Security based on your record, early filing can offer them access sooner.

Disclaimer

The information mentioned in this article about the 7 Top Reasons To File Social Security At Age 62, Know Complete Details is only meant for informational purposes and can’t be used as legal or financial advice. If you want more clear information and want to check your eligibility, go to the SSA official website. 

Frequently Asked Questions On 7 Top Reasons To File Social Security At Age 62