3 Reasons Claiming Social Security Early Will Hurt Your Retirement
Your Social Security benefits are based on your earnings history, and you're entitled to your full monthly benefit once you reach full retirement age (FRA). FRA is either 66, 67, or somewhere in between those two ages, depending on your year of birth.
You don't have to wait until FRA to claim those benefits, though. You can file for Social Security as early as age 62 and get your money a lot sooner -- an option many seniors capitalize on each year. But while there's a clear upside to claiming benefits before FRA, there are a number of drawbacks that could also ensue. Here are three reasons why filing for benefits early could hurt your retirement rather than help it.
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Source Fool.com
