The No. 1 Reason to Claim Social Security at Age 62
You'll often hear that claiming Social Security at age 62 is a dangerous move. And it's easy to see why so many financial experts think that way.
You're not entitled to your full monthly Social Security benefit based on your income history until you reach full retirement age (FRA), which is 67 if you were born in 1960 or later.
If you file for Social Security at age 62, which is the earliest age to claim benefits, you'll slash your monthly paychecks by 30% if your FRA is 67. And seeing as how so many seniors enter retirement without a lot of, or any, money in savings, that's a dangerous financial hit to take.
Source Fool.com
