It's Easy to Make This Social Security Mistake -- but Here's How You Can Avoid It
Seniors who are eligible for Social Security benefits can claim them starting at age 62. But your full monthly benefit based on your earnings history isn't yours until you reach full retirement age (FRA) -- either 66, 67, or somewhere in between, depending on your year of birth.
Currently, 62 is the most popular age to file for Social Security, with nearly 35% of seniors claiming benefits as early as possible. And well more than 50% of beneficiaries sign up for Social Security before reaching FRA.
But there's a downside to going that route, and it's shrinking your benefits for life.
Source Fool.com
