Claiming Social Security at 62? You May Need to Rethink That

One of the biggest decisions most people have to make when it comes to Social Security is when to start taking benefits. You can start your retirement benefits as early as age 62, but the longer you wait -- up until age 70 -- the higher your monthly benefit will be.

The most popular age to claim benefits is 62, and it does have the advantage of offering you the greatest number of checks you can receive over your lifetime. Still, if you're planning on claiming Social Security at 62, you may need to rethink that.

That one advantage comes with lots of disadvantages attached, and if you're not prepared for them before you make that decision, it can cause more trouble than you realize. Read on to find out five reasons why.

Source Fool.com