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Here's How Much Claiming Social Security at 62 Costs the Average Senior per Month

TheMotleyFool

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Here's How Much Claiming Social Security at 62 Costs the Average Senior per Month: https://g.foolcdn.com/editorial/images/765164/stressed-couple-looking-at-documents.jpg

Signing up for Social Security at 62 guarantees you the most checks possible in your lifetime, but it also reduces the size of your monthly benefit. It's not a bad move for everyone, though it's important to weigh all your options before deciding on a claiming age.

Below we'll look at just how much claiming Social Security at 62 might cost you each month so you can make an informed decision.

You may decide when you'd like to leave the workforce, but the Social Security Administration decides your full retirement age (FRA). This is the age you qualify for your full Social Security benefit based on your earnings history.

Source Fool.com

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