More than 393,000 62-year-olds applied for Social Security in 2022, the most recent year data is available for. Many more are likely to join their ranks in the coming years, as 62 remains the most popular age to apply for checks. But only time will tell if they're making a good call.

Claiming Social Security early gives you more checks, but each one is smaller. This move costs most people thousands of dollars over their lifetimes. However, there are some who make out better by claiming early. The right move for you depends on two key factors.

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Source Fool.com