The No. 1 Reason to Claim Social Security at Age 62
When it comes to claiming Social Security, you have choices. You could sign up at any age between 62 and 70. In fact, you don't even have to sign up at 70, though there's no financial incentive to delay your filing beyond that point.
Each filing age has its pros and cons. If you claim benefits at 70, for example, you'll score the highest payout possible by delaying your filing. If you sign up at your precise full retirement age (which is 66, 67, or somewhere in between), you'll get your full monthly benefit based on your wage history, but you'll have to sit tight for five full years beyond when you're first allowed to sign up. And if you file at 62, you'll get your benefits as soon as possible, but they'll be reduced in the process.
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Source Fool.com
