Sorry to Say: You Probably Shouldn't Claim Social Security at 62
You get flexibility when it comes to signing up for Social Security. You can opt to wait until your full retirement age (FRA), which is 66, 67, or somewhere in between, depending on when you were born, and that way, you'll get the full monthly benefit your earnings history entitles you to.
But you can easily file for Social Security before or after FRA. If you go the latter route, you'll actually give your benefits a nice boost that will remain in effect on a permanent basis. But if you file ahead of FRA, the opposite will happen -- your benefits will get slashed forever.
The earliest age you can sign up for Social Security is 62, and not surprisingly, it happens to be the most popular age to file. But while you may be eager to claim your benefits the moment you're eligible, here's why that plan could backfire.
Source Fool.com
