How to Retire at Age 62 Without Claiming Social Security
Many people retire during the latter part of their 60s for a few reasons. First, for workers born in 1960 or later, full retirement age (FRA) for Social Security purposes doesn't kick in until age 67. And FRA is when seniors are allowed to collect their benefits in full, without a reduction.
But for some people, retiring early is a big goal. And you may decide that you'd rather leave the workforce in your early 60s instead of waiting another five years or so. That way, you'll have an opportunity to enjoy retirement while you're younger and potentially healthier.
In fact, age 62 is a pretty common retirement age because it's when seniors are first allowed to sign up for Social Security, albeit at a reduced rate compared to FRA. But if you claim benefits at 62 and lock in a lower monthly benefit for life, you could end up struggling financially throughout your retirement.
Source Fool.com