Claiming Social Security Early? Half of Americans Are Making This Common Error
Choosing when to begin taking Social Security is one of the most important decisions in your retirement journey, as it will significantly affect your monthly income.
You can file for benefits at age 62 or anytime thereafter, but the earlier you begin claiming, the smaller your monthly payments will be. Still, age 62 is the most popular age to file, with more than one-third of older adults claiming at this age, according to a 2020 survey from the Bipartisan Policy Center.
While there's nothing necessarily wrong with claiming early, there is a common misconception that often trips retirees up -- and it has to do with knowing your full retirement age.
Source Fool.com
