Retirement Social Security

You’ve Heard To Wait for Social Security - Dave Ramsey Says Don’t, Here’s Why

Dave Ramsey's take on why claiming Social Security at 62 might make more sense than waiting.

By David Maina

Edited by Laura Hohenstein

Updated Nov. 18, 2025

Most financial advisers urge retirees to delay taking Social Security for as long as possible, often until 70, to maximize monthly checks. But Dave Ramsey, the radio host and personal finance author, takes a different stance.

He believes claiming early can make sense, especially for those who are debt-free and have savings to fall back on. For some retirees, starting benefits at 62 offers more freedom and a better chance to retire comfortably while they're still healthy enough to enjoy life.

The idea goes against conventional advice, so let's take a closer look at his argument and how it compares with the standard "wait longer" approach.

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Health issues and the need for near-term support

Ramsey often reminds listeners that life doesn't always go according to plan. If your health is declining or you need steady income right away, waiting years for a bigger check might not be realistic.

As he puts it, "Taking Social Security early is usually a really good idea, especially if you have (or expect to have) health issues in retirement."

If you're dealing with uncertainty, holding out for a bigger benefit can mean missing the years when the money would have mattered most. As Ramsey explains, claiming early "offers you and your loved ones much-needed financial support right away."

In his view, it's better to use the benefit while you can, whether that means paying medical bills, helping family, or simply enjoying your retirement while you're still healthy enough to do so.

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More years of payments

Ramsey also stresses the simple math of time. By starting Social Security at 62, you receive more checks over your lifetime. Even though each payment is smaller, you're collecting them for a longer stretch of retirement.

As he puts it, "taking your benefits early means you'll receive payments for a longer period of time during retirement." He also cautions, "depending on how long you live, you could end up receiving less money over the course of your retirement from Social Security the longer you wait."

That's the trade. If your horizon is shorter, or you simply value cash flow now, those extra 5–8 years of payments can outweigh the bigger monthly amount you'd get by filing later

Keep working, then save the extra

Another key part of Ramsey's thinking is that claiming early doesn't mean you have to stop working. He often suggests taking Social Security at 62 while continuing to earn income and investing the extra cash.

As he explains, "If you can keep working during that time, you can use that extra cash to continue growing your nest egg so you can retire when you're ready."

In other words, your Social Security check becomes a helpful supplement, not your main income. You cover today's bills with work, and you route more dollars into savings and investments.

That gives you a bigger cushion later and more flexibility on when to stop working. It can also let you delay tapping your 401(k) or IRA, so those accounts keep compounding.

Note, though, that if you're under full retirement age and earn above the annual earnings limit, Social Security may temporarily withhold part of your benefit. But that money isn't gone. Once you reach full retirement age, your benefit is recalculated, and you get higher payments going forward.

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Invest the money

Ramsey often says that Social Security is only one piece of the retirement puzzle. In his view, it's the "dessert" that comes after the main meal of disciplined saving.

If you don't need your check right away for bills or daily expenses, he suggests taking it early and investing it. In his words, "you'll make more money investing those funds in growth stock mutual funds than waiting and earning full Social Security benefits."

He argues that even though claiming at 62 reduces your benefit by about 30%, investing that money over time could yield greater returns than the guaranteed 8% annual bump you'd get by waiting until 70.

Ramsey is also blunt about the consequences of not investing: "You will retire broke if you don't invest. No one is coming to save you."

He encourages saving at least 15% of income throughout your working years, building a portfolio of mutual funds so that when retirement arrives, Social Security is just a bonus.

Bottom line

Ramsey's reasoning fits some retirees perfectly, especially those who are debt-free, have health issues, or want access to cash while they're still active.

Still, it's worth running your own numbers before deciding. For many people, waiting can lead to a higher lifetime payout, especially if they expect to live well into their 80s or beyond.

That's why you need to make a choice that matches your budget, risk comfort, and goals. Talk with a trusted advisor if you're unsure. The right move is the one that helps you sleep well and keeps your retirement plan on track.

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