Cousy Taking Social Security early is probably a bad idea unless you have good reason to suspect you'll die fairly young. The benefit reduction is significant. That said, if you can afford to retire, waiting too long to retire can also be a mistake unless you really enjoy your work and working is what you want to do at the end of your life. (I'm sensitive to the fact that not all people are privileged to have a choice—many older Americans must work because they don't have the money to retire.) Most people are fairly vigorous in their 60s and maybe into their early 70s, but once you hit your mid or late 70s the chances are high that you won't be able to do a lot of what you like to do. If you wait too long, you may not have the chance to really enjoy your retirement.At 62, I'm currently weighing my options. I see Social Security and the Canadian Pension Plan (I have both) as insurance in case I live long. My current decision is based on whether my savings are large enough to get me through the next two decades or so. The most attractive option seems to be working part time for the next 2 to 5 years, then fully retiring in my mid sixties. That keeps me engaged with some work and not fully dependent on my savings, but opens up more time to do the things I'd really like to do.

Cousy Taking Social Security early is probably a bad idea unless you have good reason to suspect you'll die fairly young. The benefit reduction is significant. That said, if you can afford to retire, waiting too long to retire can also be a mistake unless you really enjoy your work and working is what you want to do at the end of your life. (I'm sensitive to the fact that not all people are privileged to have a choice—many older Americans must work because they don't have the money to retire.) Most people are fairly vigorous in their 60s and maybe into their early 70s, but once you hit your mid or late 70s the chances are high that you won't be able to do a lot of what you like to do. If you wait too long, you may not have the chance to really enjoy your retirement.At 62, I'm currently weighing my options. I see Social Security and the Canadian Pension Plan (I have both) as insurance in case I live long. My current decision is based on whether my savings are large enough to get me through the next two decades or so. The most attractive option seems to be working part time for the next 2 to 5 years, then fully retiring in my mid sixties. That keeps me engaged with some work and not fully dependent on my savings, but opens up more time to do the things I'd really like to do.

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