3 Reasons Not to Claim Social Security at 62
Filing for benefits as early as possible could cost you.
Overview
Once you turn 62, you're allowed to start collecting Social Security. But you'll face a pretty steep reduction in your monthly checks if you file at 62.
If your full retirement age is 67, which is the case for anyone born in 1960 or later, claiming Social Security at 62 means shrinking your monthly checks by about 30%. And that reduction is for life.
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Details
Source
Originally published at www.fool.com.
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