Most financial experts recommend delaying Social Security as long as possible,
\noften until age 70, to maximize monthly benefits. But personal finance expert
\nDave Ramsey offers a different perspective, and it’s one that may resonate with
\nretirees seeking flexibility, freedom, or financial peace of mind.<\/p>\n
\nWhile his advice goes against conventional thinking, Ramsey lays out a case for
\nwhy taking benefits at 62 could be the right move in certain situations. Here’s
\na closer look at his reasoning and how it compares to the traditional “wait
\nlonger” strategy.\n<\/p>\n
Health and financial flexibility matter<\/p>\n
\nRamsey emphasizes a simple truth: life doesn’t always go according to plan.
\nHealth concerns, unexpected expenses, or just a desire to enjoy retirement
\nearlier can make waiting feel risky.\n<\/p>\n
\n“Taking Social Security early is usually a really good idea, especially if
\nyou have (or expect to have) health issues in retirement,” Ramsey explains.\n<\/p>\n
\nIn his view, claiming early provides immediate financial support, whether to
\ncover medical bills, help family members, or simply enjoy more active retirement
\nyears. For those facing uncertainty, that upfront income may offer far more
\nvalue than a larger benefit years down the road.\n<\/p>\n
Find Out:<\/a> 13 moves seniors could benefit from but often forget about.<\/a><\/p>\n More years of payments, even if they’re smaller<\/p>\n \nWhen you claim at 62, your check is permanently reduced by about 30% compared to \nHe argues that the math shifts if you don’t expect to live into your late 80s or Use the benefit while you keep working<\/p>\n \nRamsey also encourages people to keep working after age 62, even if they begin \n“If you can keep working during that time, you can use that extra cash to \nThe idea is to invest the money while still earning a paycheck. That allows your \nIf you’re under full retirement age and earning above the annual limit (which is Invest instead of waiting<\/p>\n \nAnother core point Ramsey makes: you could do more with the money now than \nHe believes that someone who claims early and invests the payments in growth \nRamsey is blunt: “You will retire broke if you don’t invest. No one is coming to \nHe encourages people to save at least 15% of their income during their working Bottom line<\/p>\n \nDave Ramsey’s argument for claiming Social Security at 62 challenges the Retirees who are debt-free<\/p>\n People who want more control over their income<\/p>\n Workers planning to invest or keep earning<\/p>\n \nStill, this strategy isn’t right for everyone. If you expect to live well into
\nwaiting until full retirement age. But Ramsey points out that taking it earlier
\nmeans more total payments over your retirement, especially if your life
\nexpectancy is shorter.\n<\/p>\n
\nbeyond. The break-even point for delaying often falls around age 80. If you
\ndon’t reach it, you may end up with less lifetime income by waiting.\n<\/p>\n
\ndrawing Social Security. In this strategy, the benefit becomes a supplement, not
\na replacement.\n<\/p>\n
\ncontinue growing your nest egg,” he says.\n<\/p>\n
\nretirement accounts to keep growing and gives you a larger cushion when you’re
\nfinally ready to stop working.\n<\/p>\n
\n$24,480 in 2026), Social Security may temporarily withhold some of your benefit.
\nBut once you hit full retirement age, your benefit is recalculated to account
\nfor those withheld months, so the money isn’t lost.\n<\/p>\n
\nwaiting for a bigger check later.\n<\/p>\n
\nstock mutual funds could outpace the roughly 8% annual increase that Social
\nSecurity offers for waiting.\n<\/p>\n
\nsave you.”\n<\/p>\n
\nyears. In that scenario, Social Security is the “dessert,” not the main course,
\nand claiming early can help you redirect funds to more productive uses.\n<\/p>\n
\nstandard advice, but it could make sense for:\n<\/p>\n
\nyour 80s or beyond, delaying could mean more money over time. That’s why it’s
\nimportant to look at your health, income needs, investment plan, and comfort
\nwith risk.\n<\/p>\n