Is Claiming Social Security at 62 Really a Smart Move Right Now?
Determining when to begin claiming Social Security is a big decision, as it will affect your monthly income for the rest of your retirement.
The earliest you can file for benefits is age 62, but doing so will result in a reduction of 30% in your monthly benefits. This reduction is permanent, too, so it's not a decision to be taken lightly.
With everything going on right now -- from surging inflation to falling stock prices to concerns about a recession -- is it still a good idea to file for Social Security at 62? Or should you hold off a few years and collect larger checks?
Source Fool.com
