It's Not Just Smaller Monthly Benefits. 3 Ways Claiming Social Security at 62 Can Shortchange You
You might seriously regret this decision.
Overview
If anyone's ever cautioned you not to claim Social Security at 62, they've probably focused on how it can permanently reduce your monthly checks by up to 30%. This is a valid concern, especially if you plan to rely heavily on your checks in retirement.
But it's not the only way early claiming can come back to bite you. Before you decide to apply at 62, make sure you're comfortable with the following three trade-offs.
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.