3 Great Reasons to Take Social Security Benefits at 62
Seniors are often warned not to sign up for Social Security at the earliest possible age of 62. The reason? Doing so could slash your monthly benefits for life.
You're entitled to your full monthly benefit, which is calculated based on your wage history, once you reach full retirement age, or FRA. But for each month you file ahead of FRA, your benefits get slashed.
Some seniors can't afford a hit to their benefits and therefore write off the idea of claiming Social Security at 62. But in these situations, filing at 62 absolutely makes sense.
Source Fool.com
