Do You Choose Social Security Disability or Early Retirement at 62?

Question: “Should I even bother with the stress of applying for Social Security Disability? I’m 62 years old and am thinking of applying for early retirement and not bothering with the hassle of applying for disability.”

Answer: Yes. It is worth pursuing the Social Security disability claim. Many social security attorneys even fail to recognize the advantage of disability over early retirement. If you elect early retirement at 62 you will be forever penalized and have to accept a permanent reduction of benefits of 20-25%. However, if you are approved for disability benefits, you receive full disability until your normal retirement age (typically 65 years old), and then full retirement benefits without any reductions.