Should You Claim Social Security at 63?
Filing for Social Security at the right age can really help you maximize your benefits.
Now when we think about applying for Social Security, we're generally looking at an eight-year age range that begins at 62 and ends at 70. Currently, 62 is the most common age for enrollees to start collecting benefits, and that's because many folks want to get their hands on those payments as soon as possible. Ages 66 and 67 (or 66 and change) are also popular when it comes to filing, because those constitute full retirement age for anyone born between 1943 and 1960. Finally, 70 is another notable age to claim Social Security, because it's the last year you can delay benefits past full retirement age and still collect a boost on those payments.
The funny thing with all of this is that workers tend to toggle between full retirement age (66, 67, or somewhere in between the two), 62, and 70 when deciding when to first take Social Security. But there are other options in that eight-year window to consider as well, and 63 is one of them. The question is: Does it pay to file for benefits at 63?
Source: Fool.com
