Claiming Social Security at 62 Could Be a Good News/Bad News Situation. Here's Why.
One of the toughest decisions you might have to make as a senior is when to sign up for Social Security. You're allowed to claim your benefits at any age starting at 62. But you won't get your complete monthly benefit based on your individual earnings history until you reach full retirement age (FRA). That age is either 66, 67, or somewhere in between, depending on the year you were born.
You may be inclined to sign up for Social Security as soon as you're able to do so. But while claiming benefits at 62 could work to your advantage, it could also backfire on you in a very big way.
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Source Fool.com
