Most Americans approaching their retirement years probably know the main downside to receiving Social Security benefits at age 62. It's the steep financial penalty. Your benefits could be slashed by 30% by taking Social Security at the earliest age possible.

However, Social Security's early retirement penalty isn't the only financial drawback to consider. There are also two other hidden "penalties" for claiming Social Security at 62 that many Americans don't think about.

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Source Fool.com