Which of These 3 Social Security Filing Ages Is Right for You?
Seniors get plenty of choices when it comes to claiming Social Security. But certain ages are more popular ones to file at than others. Here are three filing ages you may be contemplating -- and why each has its benefits and drawbacks.
Age 62 is the earliest point at which you can file for Social Security. The upside of going this route? Getting your money sooner. The downside? Locking in a lower monthly benefit for life.
The monthly benefit you're entitled to in retirement is based on your 35 highest-paid years of wages. But you don't get that full benefit until you reach full retirement age, or FRA, which falls between ages 66 and 67, depending on the year you were born.
Source Fool.com