What is happening is many Seniors are experiencing job loss or health issues which prevent them from working.
Taking the early benefit in this case makes sense, if you have no other way to avoid it.
For instance, what if you could tap into a reverse mortgage at 62 and draw from that until you hit 67.
Then you could keep your full benefits. You could even repay the money you drew out of your reverse mortgage if you want to.
This is something you should talk to your financial advisor about, if you have one. If you don't have one, get one now. Time really is money. Waste time, waste money.
Another point is many Seniors are still carrying a lot of consumer debt at 62. If Seniors who are in this position at 62 had focused on paying off their debt in the years leading up to retirement, they could have a very different situation at 62.
If you are under 62 and a mortgage plus at least 4 other debts, you should get a free savings analysis from us (see the button at the bottom).