Claiming Social Security Benefits Early Could Cost You $35,500
When it comes to choosing when to begin claiming Social Security benefits, you have a few options. The earliest you can file is age 62, but you could also wait to claim at any age thereafter. If you wait until age 70 or beyond to begin claiming, you'll receive the highest possible amount each month.
If you're eager to get a jump-start on retirement, claiming as early as possible might seem like the best option. However, not only will you receive smaller checks each month by claiming early, but you could also receive tens of thousands of dollars less in total compared to if you'd delayed benefits.
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Source Fool.com
