The No. 1 Reason to Claim Social Security at Age 62
One of the nicest features of Social Security is that seniors can choose when to claim benefits. Granted, you won't get your full monthly benefit based on your personal wage history until you reach full retirement age, or FRA, which is either 66, 67, or somewhere in between. But if you don't want to wait that long, you can file for benefits as early as age 62.
Of course, the main drawback of going this route is slashing your monthly benefits for life. And if you don't have much in the way of retirement savings, you may want to lock in a higher benefit. But while claiming Social Security at age 62 could backfire in some cases, here's a great reason to snag your benefits as soon as you're entitled to them.
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Source Fool.com