3 Reasons to Claim Social Security Benefits Early

There are no one-size-fits-all rules when it comes to retirement, and that includes when to begin collecting Social Security checks. Conventional wisdom is to delay benefits until your full retirement age (FRA) -- between 66 and 67, depending on your birth year -- or beyond. Every month you delay increases the size of your checks, until you reach the maximum benefit at 70. So putting it off for a while can net you larger checks and possibly more money over your lifetime.

This makes sense in some situations, but it's not right for everyone. Here are three reasons to consider starting Social Security before your FRA -- even as soon as you become eligible at 62.

Image source: Getty Images.

Continue reading

Source Fool.com