Experts weigh in on Taking Social Security at 62

Take your Social Security at 62.

That’s the buzzy advice blowing up on TikTok and YouTube.

Droves of “finfluencers,” as these social media personalities doling out financial tips are called, have been posting videos and memes to justify starting Social Security retirement benefits at age 62 — the earliest age allowed — and then investing the money each month in stocks.

That argument is in stark contrast to what most financial advisers and retirement experts have been urging people to do for years, which is to delay tapping your benefit until age 70 if you can afford to, thereby reaping a larger monthly check for the rest of your life.

Delaying your Social Security benefits almost always makes total sense, Laurence Kotlikoff, a Boston University economics professor and Social Security expert, told Yahoo Finance.

“The biggest mistake people make when it comes to Social Security is taking Social Security too early at a much lower benefit,” he said. “For the vast majority of workers, delaying Social Security through age 70 is the optimal strategy.”

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