Before Claiming Social Security, Make This Key Move
One of the nicest things about Social Security is that you get a choice as to when you file. You're entitled to your full monthly benefit -- the one that's based on your earnings history -- once you reach full retirement age, or FRA. That age is either 66, 67, or somewhere in between, depending on the year you were born.
But you can sign up for Social Security much earlier than that. If you're willing to accept a reduced benefit, you can file beginning at age 62. And if you're looking to boost your benefit, you can delay your filing past FRA. For each year you do, up until age 70, your benefit grows 8%.
You may end up contemplating a few different Social Security filing ages as retirement nears. But before you make your filing official, you'll need to do one important thing.
Source Fool.com
