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AARPTeri
AARPTeri
Community Manager
June 21, 2021

Learn, Earn and Discuss Social Security - Claiming SS

  • June 21, 2021
  • 8 replies
  • 6550 views

AARP has a calculator to determine When to claim Social Security to help you determine the right timing for you! You can also earn AARP Rewards points, not signed up for AARP Rewards yet? Click here!  

 

Share what you learned from this calculator that you didn't know before! Did it help you make a decision?

    8 replies

    2Papa
    2Papa
    Contributor ⭐⭐
    July 9, 2021

    Get it soon as you can!  If you wait, you may not get any!

      B
      BalbonisMoleskine
      Conversationalist ⭐⭐
      March 12, 2025

      Yes. Bird in hand. 

      N
      nazfam
      Contributor ⭐
      March 12, 2025

      Calculators ignore many variables. What if I can afford to retire at 62 without SS but draw it anyway and invest it at modest 5% annual return. 8 years later, recommended age 70, I’d accumulate $147,570, easily offsetting the higher lifetime benefit of waiting until 70. Otherwise considerations would be, what weee the affects of drawing down other investments that I was obviously surviving on, or just not retiring until 70. 

      GailL1
      GailL1
      Community Champion ⭐⭐⭐
      March 12, 2025

      Of course, the decision is based on one’s own situation.  I waited but that was because I had unearned income that I could support myself on - then at 70, I got the delayed retirement credits and then I also had to start drawing my IRA RMD.

       

      The real problem is the people that file for retirement at 62 and get the reduced benefits - and they don’t have any other funds to make ends meet.  Then as time goes by - their living cost rise and they cannot easily adjust.  

       

       

      IT‘S ALWAYS SOMETHING . . . . .. . . . Roseanne Roseannadanna
        B
        BalbonisMoleskine
        Conversationalist ⭐⭐
        March 12, 2025

        That's smart. I'm planning to do something similar: Start collecting at 62 and live off of that as much as possible so my IRAs and other accounts can continue to grow. 

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