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.