3 Reasons to Claim Social Security Early

If you delay claiming Social Security until 66 or 67 (depending on when you were born), you get a bigger check each month. Put off claiming until three years after you reach your full retirement age, and you will take home an extra 24% with each check.

It's possible, however, to claim benefits as early as 62. Doing so comes with a steep penalty -- you'll lose 30% of what you would collect at your full retirement age (66 or 67). But there are still scenarios where doing that makes sense.

Every person should consider their personal needs when deciding when to claim Social Security. These scenarios, however, are viable ones for electing to take benefits early.

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Source Fool.com