3 Great Reasons to Take Social Security Benefits at 62

Should you claim Social Security at age 62? It happens to be the most popular age to sign up for benefits, namely because it's also the earliest age at which you can file.

But when you claim benefits at 62, you shortchange yourself to some degree. That's because you're not entitled to your full monthly Social Security benefit, based on your earnings history, until you reach full retirement age, or FRA -- which isn't until age 66, 67, or somewhere in between, depending on your year of birth. And if you were born in 1960 or later and file for Social Security at 62, you'll slash your monthly benefit by 30% on a permanent basis.

Still, believe it or not, there are certain scenarios where claiming Social Security at 62 makes a ton of sense. Here are three great reasons to go that route.

Source Fool.com