Traditionally employed workers pay 6.2% of their annual income in Social Security payroll taxes. That's $3,720 per year for someone earning $60,000 annually. Over a 40-year career, that adds up to nearly $150,000.

When you pay that much into the program, it's natural to look forward to recouping that cash as a retirement benefit. For many, that day comes as soon as they become eligible for the program at 62. But claiming then can have unforeseen consequences. The proof is in the average monthly benefit for 62-year-old claimers compared to older beneficiaries.

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Source Fool.com