2 Reasons to Claim Social Security Early, and 2 Reasons Not To
Deciding when to begin claiming Social Security is a crucial factor when planning for retirement,because the age you file for benefits directly affects how much you receive each month.
Age 62 is the most popular age to begin claiming benefits, with 42% of men and 48% of women filing at this age, according to a report from the Center for Retirement Research at Boston College. Few people wait until later to claim, with just 2% of men and 4% of women waiting until age 70 to file.
There's no one-size-fits-all answer as to when you should begin claiming benefits, as the right option will depend on your situation. But there are a couple of reasons why it might be beneficial to claim early -- as well as reasons why you might be better off waiting.
Source Fool.com
