2 Little-Known Social Security Rules Everyone Needs to Know by the Time They Reach 62
One of the biggest retirement planning decisions you'll ever make is when to claim Social Security.
Most people can claim their retirement benefits at any point after you reach 62 years old. While claiming earlier will provide some additional cash upfront, it comes at a price. Your monthly checks will be reduced by as much as 43% versus what they could be if you wait to claim until age 70.
In fact, the average person will be better off over their lifetime by delaying until age 70. But that doesn't mean there aren't good reasons to claim benefits as early as 62.
Source Fool.com
