Your overall income is critical when deciding whether to take Social Security at 62 or 67. If you start receiving benefits at 62, you'll get smaller payouts. On the other hand, waiting until 67 allows you to maximize your monthly payments. However, it is weighing this against other income sources, like savings, spouse's income, and if you're still working, is essential. Considering your own health and life expectancy is also crucial. If you have significant health problems or a family history of shorter longevity, start collecting benefits at age 62. On the other hand, if you're in good health and have an account of longevity in your family, waiting until age 67 could be an intelligent choice.