The No. 1 Reason to Claim Social Security at Age 62
Your adult life is full of financial decisions you must make. These decisions can vary based on your life phase, but there seems to be no shortage of them. One of the more important decisions you'll make in the latter parts of your life is when to claim Social Security benefits, because that'll affect your finances throughout your retirement.
Your Social Security primary insurance amount (PIA) is the monthly amount you're eligible to receive once you hit your full retirement age (FRA). You can think of it as the starting point for your Social Security benefits. From there, Social Security will adjust your monthly benefit based on whether you claim before or after your FRA.
While the prospect of increased monthly benefits causes many people to delay claiming Social Security, I believe the No. 1 reason to claim Social Security at 62 is the extra time it gives you to enjoy your benefits.
Source Fool.com
