3 Great Reasons to Take Social Security Benefits at 62
They say patience is a virtue, and when it comes to Social Security, many seniors don't have it. Age 62 is the most popular age to sign up for benefits, even though filing then also slashes benefits for life.
Seniors are entitled to their full monthly Social Security benefit based on their earnings history upon reaching full retirement age, which spans from age 66 to 67, depending on year of birth. Recipients can sign up to start getting benefits as early as age 62, but in doing so, they'll shrink their monthly benefit substantially.
Given the number of seniors who are behind on retirement savings, that's a hit many can't afford to take. But despite that, here are a few good reasons to file for benefits at 62 yourself.
Source Fool.com
