3 Great Reasons to Take Social Security Benefits at 62
You'll often hear that claiming Social Security at age 62 is a dangerous move. The reason? If you file for benefits before full retirement age (FRA), you'll slash them on a permanent basis. FRA doesn't kick in until 67 for those born in 1960 or later, and so if that's the category you fall into and you file for Social Security at 62, you'll be looking at a 30% reduction in your benefits -- for life.
In spite of that, in some situations, filing for benefits at 62 makes a lot of sense. Here are three great reasons to sign up for Social Security at 62 despite the drawbacks involved.
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Source Fool.com
