When people think about retirement, many feel tempted to stop working as early as possible. In the United States, this often means applying for Social Security at age 62—the earliest age allowed. But what most people don’t realise is that this decision can cost them a lot of money in the long run.
A popular content creator named Lynn, from a channel called Her Second Half, warns that early retirement without a proper plan can lead to a loss of up to $180,000 over the years. That’s a huge amount to miss out on, just because of a rushed decision.
Why Retiring at 62 Is Not Always a Good Idea
Many Americans think that once they turn 62, they should apply for Social Security right away. After all, they’ve worked hard for decades. But Lynn explains that retiring early means getting a smaller check every month for the rest of your life.
This happens because the amount is calculated before you reach what’s called your full retirement age, which is between 66 and 67 for most people.
If you retire early, your benefits are permanently reduced. That means your monthly income will stay lower even as the cost of living goes up. Over time, this small cut adds up to a massive loss—nearly $180,000 in total, according to Lynn.
Now, that doesn’t mean retiring at 62 is always the wrong choice. Some people may have health problems, family responsibilities, or no other source of income. In those cases, it might be necessary. But the key is to make an informed choice, not just an emotional one.
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Tips to Get a Higher Social Security Check
Lynn gives some simple advice on how to increase your Social Security benefits and avoid losing money. These strategies need time and planning, but they can really make a difference.
Delay Your Retirement
The longer you wait after full retirement age to apply for Social Security, the more you’ll get each month. For every year you delay, your benefit goes up by around 8%. If you wait until age 70, your check could be much bigger than if you had applied at 62.
Work for at Least 35 Years
Your Social Security check is based on your highest-earning 35 years of work. If you have fewer than 35 years of earnings, the missing years count as zero. That brings down your average and reduces your monthly check. So working a full 35 years—or more—helps increase your benefit.
Try to Earn More Over Time
The more you earn during your career, the higher your Social Security benefit will be. This is because the SSA (Social Security Administration) looks at your average income over the years. So if you get promotions, take better jobs, or increase your skills, you can directly improve your future payments.
Planning Is Better Than Regret
Lynn also says that understanding how Social Security works is an important part of planning your retirement. Many people make mistakes simply because they don’t know the rules. But by learning about different options, doing some calculations, and maybe even talking to a retirement expert, you can avoid big losses.
Everyone’s situation is different, but one thing is clear—planning early and being informed can save you a lot of money. Retirement should be relaxing, not stressful. And knowing how to get the most out of your Social Security benefits is one smart step toward a secure future.