The 4 Best Reasons To Claim Social Security at 62
Social Security retirement benefits first become available at age 62. While you may be eager to start your checks ASAP, doing so has serious financial consequences. Specifically, starting checks so young means reducing checks by as much as 30% (depending on your full retirement age) since you'll be hit with the maximum amount of early filing penalties.
Despite the fact your monthly retirement benefits will be reduced by an early claim, sometimes starting your checks at 62 makes sense anyway. In fact, there are four situations when filing for benefits as soon as you can is exactly the right move.
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Source Fool.com