Not Knowing This Social Security Rule Could Leave You Stuck With Lower Benefits for Life
It's an important facet of the program a lot of people aren't familiar with.
Overview
It's hard to avoid the temptation to claim Social Security early. If you were born in 1960 or later, your full retirement age is 67. And that's when you can collect your monthly checks without a reduction.
But since Social Security benefits become available starting at age 62, waiting for full retirement age could mean sitting tight for five full years. That's not an easy thing to do when you want your money sooner.
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Details
Source
Originally published at www.fool.com.
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