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If you retire at 62 and not 65, your benefits will be reduced 20%. Suppose you retire at 65 and receive x dollars per year and live for N years. Your total SS income is N*x dollars. If you retire at 62 and live the same lifespan, you receive 0.8*x*(N+3) dollars.

There quantities become equal at N = 12. Therefore, if you are planning to die before age 77, retire early.

If you are a male aged 62, you will survive to age 79 1/2 with probability 0.5. But everybody is unique, maybe you want to get your blood pressure and cholesterol checked in order to get a more accurate estimate in your own personal case.
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