Can I Retire at 62?
62 is the earliest Social Security age. Here's your number and the trade-off of claiming early.
Your numbers
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What this calculator does
Retiring at 62 lines up with the earliest age you can claim Social Security — though claiming now permanently reduces the benefit. Your retirement accounts are already penalty-free (you're past 59½), and you're just 3 years from Medicare at 65. This calculator shows the nest egg you need to retire at 62 and whether you're on track.
Common questions
How much do I need to retire at 62?
Roughly 25× your annual spending (the 4% rule), minus whatever Social Security will cover. If Social Security will pay, say, $20,000 a year, your portfolio only has to fund the rest of your spending — so subtract that first, then size the nest egg for the remainder.
Should I claim Social Security at 62?
Claiming at 62 gives you income sooner but permanently cuts the monthly benefit by about 25–30% versus your full retirement age (66–67). Delaying raises the benefit roughly 8% per year up to age 70. The right choice depends on your health, savings, and whether you need the income — this tool gives you the general math, not personal advice.
Can I access my 401(k) and IRA at 62?
Yes, penalty-free — the 10% early-withdrawal penalty ends at 59½. Traditional withdrawals are taxed as ordinary income; qualified Roth withdrawals are tax-free.
What about health insurance from 62 to 65?
You'll need to bridge 3 years to Medicare at 65, usually through the ACA marketplace where subsidies are based on your income in retirement.