3 Reasons to Take Social Security at Your Full Retirement Age
People usually fall into one of two camps when it comes to starting Social Security. Either they're signing up the second they blow out the candles on their 62nd birthday cake or they're patiently waiting until they turn 70 when they qualify for the largest possible benefit. Neither approach is wrong, although one might give you more money than the other depending on how long you expect to live.
Of course, we can never know that for sure, so we'll never know if we're making the best possible choice. There is a third option many people don't think about that serves as a middle ground -- claiming at their full retirement age (FRA). This is age 66 for people born between 1943 and 1954. Then, it rises by two months every year thereafter until it reaches age 67 for all adults born in 1960 or later. Here are a few reasons you might want to wait until your FRA to start claiming your Social Security benefits.
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Source Fool.com
