3 Situations Where Claiming Social Security at 62 Actually Makes the Most Sense
A Social Security claim at 62 isn't always a bad choice. Here's when it's a smart move.
Overview
Workers can claim Social Security starting at age 62, but this isn't considered to be the ideal claiming age in most circumstances. Starting Social Security at 62 can substantially reduce your benefits, cutting your monthly benefit by as much as 30% if your full retirement age is 67.
While reducing this source of inflation-adjusted guaranteed income may be something that you regret, an early claim makes sense in certain circumstances. In fact, here are three situations when a claim at 62 may be the best move.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.