3 Reasons to Claim Social Security at 62
Claiming Social Security at 62 can actually make sense for a lot of reasons. Here are three of them.
Overview
Conventional wisdom says you shouldn't claim Social Security at 62, even though that's the age when you first become eligible for benefits. It's easy to understand why that's the case. You'll face a significant reduction in your monthly payment if you start it so young.
For most people, full retirement age is 67, and early filing penalties apply before that age. So a claim at 62 would mean a 30% cut to your standard benefit. There's no denying that that's a big hit. Still, there actually are some reasons filing at 62 can make sense.
Details
Here are three reasons worth thinking about to see if any apply to you.
Source
Originally published at www.fool.com.
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