I'd Tell Anyone in This Situation to Claim Social Security at 62
Age 62 is the earliest age at which you can sign up for Social Security. And it's an age many seniors choose when it comes to filing for benefits.
The problem with claiming Social Security at age 62, though, is that you'll have to accept a reduced monthly benefit for life. You're only first entitled to your complete monthly benefit, based on your wage history, once you reach full retirement age, or FRA. But FRA doesn't kick in until 66, 67, or somewhere in between, depending on the year in which you were born.
Filing for Social Security at age 62 could end up being very detrimental to your retirement. If you slash your monthly benefit, you might end up pretty cash-strapped as a senior in the absence of having a robust nest egg. But despite that hit, there's one situation where it absolutely makes sense to file for Social Security at age 62.
Source Fool.com
