3 Great Reasons to Take Social Security as Early as Possible
Social Security is a critical source of income for millions of retirees, and the age you begin taking benefits will have a huge effect on the amount you receive each month.
Many experts advise waiting until age 70 to file, as that will result in the largest possible payments. In fact, you'll collect your full benefit amount plus a bonus of at least 24% per month by filing at 70. If you claim as early as possible at 62, your benefit will be permanently slashed by up to 30%.
That said, claiming early isn't always a bad thing. In some situations, you could actually be better off filing as early as possible. While it's not the right move for everyone, there are three reasons you might want to file at 62.
Source Fool.com
