Can I retire at 62 and still work part time?

Retiring at 62 and working part-time is totally doable, offering income, purpose, and health coverage, but you need to watch your Social Security earnings if you collect early (benefits get reduced until your Full Retirement Age, then stop being reduced) and be mindful of taxes on benefits, while also planning for Medicare at 65, but a part-time job can provide crucial health insurance before then, making it a great way to supplement savings without over-withdrawing.

What happens if I retire at 62 but continue to work?

If you retire at 62 and keep working, you can collect Social Security, but your benefits will be reduced if your earnings exceed the annual Social Security earnings limit (around $23,400 for 2025) until you reach your Full Retirement Age (FRA), with the SSA automatically recalculating and increasing your benefit later to account for withheld payments and higher earnings. You'll get a larger monthly check starting at your FRA, as the SSA gives you credit for the months benefits were withheld and includes higher earning years, plus your benefits might be subject to income tax depending on your total income. 

What is the limit I can earn if I retire at 62?

If you retire at 62 and claim Social Security, you can earn significant income, but benefits are reduced if you exceed annual earnings limits until you reach Full Retirement Age (FRA), after which there's no limit on earned income; for example, in 2025, you can earn up to $23,400 without benefit reduction, but earning more results in a $1 reduction for every $2 over the limit, while reaching FRA (around 67) eliminates this cap, allowing unlimited earnings with full benefits. 

How many hours can you work if you retire at 62 without?

While there's no universal cap on post-retirement work hours, the number can impact Social Security benefits and taxes, depending on your age and earnings. Retirees under the full retirement age may see a temporary reduction in benefits if their income exceeds certain limits.

Can you retire but still work part-time?

Once you reach full retirement age and switch from disability to retirement benefits, you can generally work part-time without affecting your retirement benefits. However, rules vary depending on the benefit program and earnings limits before full retirement age.

Can I collect my Social Security at 62 and still work full-time?

How to semi-retire at 62?

Here are 5 key steps to consider to help you achieve your semi-retirement bliss:

1. Understand your long-term financial needs. ...
2. Prepare for semi-retirement while you are working full time. ...
3. Plan out your future income sources. ...
4. Understand current spending. ...
5. Learn about your health care options.

What are the disadvantages of working part-time after retirement?

Disadvantages of Working After Retirement

According to the Social Security Administration, the benefits may temporarily shrink if you work while drawing them. Choosing to work could possibly impact the time available for hobbies, travel or other leisure activities planned for this phase of life.

Can I partially retire at 62?

You can start receiving your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits only when you reach your full retirement age. If you delay taking your benefits from your full retirement age up to age 70, your benefit amount will increase.

What are the biggest mistakes people make when retiring?

5 retirement mistakes to avoid

• Lacking a life plan. Retirement is a difficult journey to travel without a map. ...
• Overspending. ...
• Claiming Social Security too early. ...
• Being overly conservative with investments. ...
• Retiring too early.

What happens if I retire and then go back to work?

If you retire and go back to work, your Social Security benefits might be reduced if you're under full retirement age (FRA) due to earnings limits, but benefits increase once you reach FRA, with past reductions often recalculated for higher future payments. For pensions (like federal), returning to work often means your salary is reduced by your annuity amount (salary offset) or benefits stop if the new job requires pension membership, while other plans have varying rules. You also need to consider Medicare enrollment timing and potential tax implications, as working can affect your combined income and taxation of benefits. 

How much money will I lose if I retire at 62 instead of 67?

If a worker begins receiving benefits before his/her normal (or full) retirement age, the worker will receive a reduced benefit. A worker can choose to retire as early as age 62, but doing so may result in a reduction of as much as 30 percent.

How much do you have to make to get $3,000 a month in Social Security?

To get around $3,000/month in Social Security, you generally need a high earning history, around $100,000-$108,000+ annually over your top 35 years, but waiting to claim until age 70 maximizes this amount, potentially reaching it with lower yearly earnings, say under $70k if you wait long enough, as benefits are based on your highest indexed earnings over 35 years. The exact amount depends heavily on your specific earnings history and the age you start collecting benefits. 

What does Suze Orman say about taking Social Security at 62?

Orman explained that you can start Social Security as soon as 62, but that you shouldn't. She said: "Don't settle for a reduced Social Security benefit. If you are in good health, the best financial move you can make is to not claim Social Security before you reach your full retirement age."

How much money can you make at 62 and still draw Social Security?

At age 62, you can earn up to the annual limit (e.g., $24,480 in 2026) and get full benefits; earning more results in a $1 reduction for every $2 over the limit, but these withheld benefits are restored later, and once you hit your Full Retirement Age (FRA), there's no limit on earnings, and you receive your full Social Security amount. 

Can I draw my pension and still work?

Claiming your pension while working

You can claim your pension while you're working, as long as you've reached: State Pension age, if you're claiming the State Pension. the age agreed with your pension provider, if it's a personal pension or workplace pension.

What is the best age to retire?

“Most studies suggest that people who retire between the ages of 64 and 66 often strike a balance between good physical health and having the freedom to enjoy retirement,” she says. “This period generally comes before the sharp rise in health issues which people see in their late 70s.

What is the $1000 a month rule for retirement?

The $1,000 a month retirement rule is a simple guideline stating you need about $240,000 saved for every $1,000 of monthly income you want from your investments in retirement, based on a 5% annual withdrawal rate ($240k x 0.05 / 12 = $1k/month). It's a motivational tool to estimate savings goals (e.g., $3,000/month needs $720k), but it's one-dimensional, doesn't account for inflation, taxes, or other income like Social Security, and assumes steady 5% returns, making a personalized plan essential. 

What is the number one regret of retirees?

Among the biggest mistakes retirees make is not adjusting their expenses to their new budget in retirement. Those who have worked for many years need to realize that dining out, clothing and entertainment expenses should be reduced because they are no longer earning the same amount of money as they were while working.

What do the happiest retirees do?

SunLife's 2025 Life Well Spent report, which surveyed more than 2,000 adults age 50 and older, found that the happiest retirees spend 43 more minutes per week in nature and significantly less time watching TV than unhappy retirees. (Image credit: SunLife, Life Well Spent Happiness Report, 2025.)

Should I retire at 62 and work part-time?

Key Takeaways. Working part-time in retirement can help savings last longer and fund specific goals. It could also allow you to delay drawing Social Security until full retirement age. If you earn too much, though, it could affect your Social Security benefits depending on your age and circumstances.

What is the average Social Security check at age 62?

The average Social Security check for someone retiring at age 62 is around $1,300 to $1,340 monthly, but this amount is permanently reduced, with recent figures showing averages like $1,298 (Dec. 2023) or $1,342 (late 2024). This is significantly less than waiting for your full retirement age (FRA), typically 67 for most, when benefits increase substantially; for instance, the average for a 67-year-old was over $1,880 in late 2023. Your exact benefit depends on your earnings history, with claiming at 62 reducing it by about 30% compared to your FRA benefit. 

How many hours am I allowed to work if I retire at 62?

You can work as many hours as you want at age 62, but your Social Security benefits might be reduced until you reach your Full Retirement Age (FRA), typically 67; after FRA, there are no earnings limits, and you can work full-time without affecting benefits, though high earnings can make benefits taxable. The key factor is your income relative to the annual limit (e.g., ~$23,400 in 2025), not hours, as earnings over the limit reduce benefits dollar-for-dollar before FRA, but this is temporary and recalculated later. 

Should I work part-time before I retire?

Part-time work can generate enough income to replace Social Security when retiring before your FRA and allow you to delay claiming until you can get your full benefit amount. Further, Social Security benefits are increased for each month you delay claiming them past your FRA up until age 70.

What is the 3 month rule in a job?

A 3 month probationary period employment contract is a way for your employer to monitor your performance to assess your capabilities and appropriateness for the job. Once the probationary period is over, you might be eligible for other opportunities, such as a promotion, raise, or other position.

What is a good monthly retirement income?

A good monthly retirement income is often cited as 70% to 80% of your pre-retirement income, but it varies greatly by lifestyle, location, and expenses, with many needing $4,000 to $8,000+ monthly, depending on if they seek a modest, comfortable, or affluent retirement, while accounting for inflation and unique costs like healthcare.