If you have ever asked yourself "Should I take the buy out and retire early?" The answer should be , "Yes!". Because you can definitely benefit if you decide to retire early. The monthly checks may be smaller if you retire at age 62 instead of waiting until you are 65 but, the long term reality is that you will come out thousands of dollars ahead.    If you retire at age 62 you may recieve $1000 each month.    If you retire at age 65 you may recieve $1100 each month.   If you stay in retirement until you are 75 -- you will recieve:   $1000 each month  for one year = $12,000 for 13 years (From age 62 to age 75).          $12,000             x13 years      ____________        $156,000   If you retire at age 65 you will recieve:   $1100 each month for one year = $13,200 for 10 years. (From age 65 to 75)         $13,200            x10 years     _____________        $132,000   or if you recieve $1200 each month =   $1200 per month for 12 months = $14,000 per year                                                    x10 years                                              ____________                                                 $140,000    So, yes early retirement is definately beneficial.  You will recieve a much larger sum over-all, even if you recieve one or two hundred dollars less each month due to early retirement.