Sorry to Say: You Probably Shouldn't Claim Social Security at 62
There's a reason so many seniors routinely sign up for Social Security at age 62. That's the earliest point you can start getting benefits, and filing at 62 could mean getting to exit the workforce at a relatively young age.
But there's a major downside to claiming Social Security at age 62, and it's locking in a lower monthly benefit for life. And that could prove problematic if your retirement ends up lasting longer than you initially anticipate.
Americans are living longer these days. And while that's a good thing in theory, from a financial standpoint, it can be a challenge.
Source Fool.com
