Why Dave Ramsey Is Absolutely Right About Taking Social Security at 62

"In most cases, it actually makes more sense to take your retirement benefits sooner instead of waiting later. Why? Because your retirement payments die when you die... so you might as well take the money and make the most of it while you can," the article said. It goes on to explain that there are many situations where delaying would give you lower lifetime benefits, including if you die at or before the average life expectancy."

"Ramsey also recommends claiming the benefits early and investing them, even if you don't need them right away. "After all, you can do a much better job investing that money than the government ever could," the article read - and the advice mirrors what Ramsey said in a video to a caller who asked about the optimum time for a benefits claim."

Taking Social Security at the earliest eligibility age, 62, increases the number of years that benefits are received and can raise lifetime payouts for many retirees who die at or before average life expectancy. Claiming early provides immediate income to avoid depleting savings and supports retirement without drawing down other assets. Early benefits can be invested to potentially outperform government returns, boosting overall retirement resources. Delaying benefits increases monthly checks but may reduce lifetime benefits for those with shorter lifespans. Individual circumstances, health, life expectancy, and financial needs determine the optimal claiming age.

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