Why is the age to begin receiving Social Security benefits 62?

Why is the age for Social Security 62?

Have you ever wondered why the age that you can begin receiving Social Security benefits is set at 62? Why wouldn't it be 60 or 65 or even 55?

Here is the answer. President Franklin Roosevelt began Social Security in the 1930's. In the midst of the depression, the American people were excited to hear the government was going to take care of them. What they didn't realize is that this was the beginning stages of Socialism.

Roosevelt took advantage of the depression help the American people to rely more on the federal government. Roosevelt created a new tax on the unsuspecting public. The Social Security Tax. What the American people did not realize and many still do not, is that if they would invest the amount that they were being taxed into Mutual Funds, they would be millionaires when they turned 62.

Now I realize in the 1930's the American people were in the throngs of a depression and had no confidence in the stock market. Also the Dow Jones had only been around about 50 years and had not dealt with a depression or serious recession. So I can't blame them for looking to the government at that time.

Where Roosevelt really snookered the American public was by setting the earliest age to draw Social Security at age 62. This is where the public should have really stood up and complained. Why? The average life span at the time Social Security began was 62 years.

Roosevelt had developed a plan to basically tax American workers until they died without giving them anything in return!

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Comments 5 comments

issues veritas 7 years ago

FDR gets my vote as the worst President of the US and second worst are any of the presidents that followed his lead.

The real question is why do Government Workers have their own retirement and they can retire at 55 or less with a lot more money and benefits?


Art West profile image

Art West 7 years ago from Indiana Author

Thanks for the comment issues veritas.


Wayne Tilden profile image

Wayne Tilden 6 years ago from Roseville, California

... and with SS being available "at death" and increased longevity, no wonder our kids are concerned about it being gone when they're ready to retire.

They are in a position to invest, but still, the following generation - our grandchildren - are expected to live to be 100 or more.

What more can I say?


Wayne Tilden profile image

Wayne Tilden 6 years ago from Roseville, California

"All the money you paid into Social Security is what I'm living on today!"


Art West profile image

Art West 6 years ago from Indiana Author

Thanks for the comment Wayne.

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