Hi Larry, I retired from the state 5 years ago with 35 years of service. I left my retirement money and DROP money with the state to receive monthly payments for the rest of my life. I was rehired with the state two months later making the same amount of money I was making when I left and doing the same job. Fast forward 5 years, I will be 62 next month (April) and I don't know whether I should start drawing my early SS at 62, but I would have to quit my full time job because my salary is over $40,000. My husband is 72 and started drawing his SS at age 70 and started drawing his retirement but kept working fulltime, and is officially retiring at the end of May. I am having a hard time deciding if I should draw my early SS at 62 and quit my job, or work until I am FRA at 66 and 4 months. I am still heatlhy and help financially with my Grandchildren and really not sure if I am ready for retirement but have been reading comments that it's best to draw at 62 because it will take 13 years to make up the difference if I wait until FRA. Plus I was told I will lose $250 off my retirement when I turn 62 and will only draw $1270 from SS and will have to pay for insurance and by the time taxes are held out, I wouldn't be bringing much home. It seems to me I need to keep working until FRA and sign up for Medicare before turning 65. Your advice on this matter is greatly appreciated. Thank you!

Hi,

There isn't an absolute best strategy in your case, so it really comes down to your personal preference. We generally recommend waiting to file in a case such as yours, though, if you can swing it financially. You may be interested in this piece that Larry wrote regarding break-even analysis: https://www.pbs.org/newshour/economy/take-social-security-benefits-early....

You may want to consider using our maximization software in order to compare your options and help you decide which strategy feels best for you.

Best, Jerry