Claiming Social Security Early? 2 Rules You Need to Know

Choosing when to begin claiming Social Security benefits is one of the most important decisions you'll need to make as you're heading into retirement.

Age 62 is the earliest you can file, and it's also the most popular age to start receiving benefits. Nearly 35% of men and roughly 40% of women file for Social Security at age 62, according to a 2020 report from the Bipartisan Policy Center.

Claiming benefits early can be a smart move in some situations, but it's important to make sure you're aware of the potential drawbacks as well. There are a couple of rules to keep in mind before you claim early, and they could affect your benefit amount down the road.

Source Fool.com