3 Great Reasons to Take Social Security Benefits at 62
The Social Security Administration allows you sign up for benefits beginning at age 62, and not surprisingly, that happens to be the most popular age for seniors to file. But there's a downside to claiming Social Security at 62 -- if you sign up then, you'll lower your monthly benefits for life.
You're entitled to your full monthly Social Security benefit, based on your personal wage history, once you reach full retirement age, or FRA. FRA is either 66, 67, or 66 and a specific number of months, depending on the year you were born. For each month you claim benefits ahead of FRA, they'll be reduced on a permanent basis. But in spite of that, here are a few solid reasons to sign up for Social Security as soon as you possibly can.
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Source Fool.com
