Claiming Social Security at 62 Has These 2 Hidden Pitfalls
Reduced monthly checks are only a piece of the puzzle.
Overview
Claiming Social Security when you turn 62 can be tempting. After all, 62 is the earliest age you can start collecting retirement benefits. And having that extra income sooner may sound appealing.
Now, you may be aware that if you claim Social Security at 62, you'll be looking at a reduced monthly benefit check for life. If your full retirement age is 67, filing at 62 will mean collecting benefits that are about 30% lower.
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Details
Source
Originally published at www.fool.com.
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