5 Things to Know If You Hope to Retire at 62 - AARP Many people retire at 62 because that’s the earliest you can collect Social Security retirement benefits But just because you can claim monthly benefits at 62 doesn’t always mean you should Social Security pays 100 percent of the benefit calculated from your lifetime earnings history if you claim it at full retirement age
When to Apply for Social Security to Start Benefits at 62 - AARP By filing at 62, or any time before you reach full retirement age, you forfeit a portion of your monthly benefit If you were born in 1963 or later, for instance, filing at 62 could reduce your monthly payment by as much as 30 percent AARP’s Social Security Benefits Calculator can provide more details on how filing early reduces benefits
Early Retirement Health Insurance - AARP Key takeaways If you retire at 62, you probably won’t be eligible for Medicare Medicare for all but those with disabling chronic conditions begins at 65 One option to fill part of the gap is to use COBRA to keep your insurance A health plan through the Affordable Care Act marketplace is widely available Other options are available for a select few early retirees