Social Security at 62 Isn't Always a Disaster. Here's When It Could Work Out.
Filing for benefits as early as possible isn't always a mistake.
Overview
There's a reason so many financial experts warn against claiming Social Security at 62. Since it's the earliest age to take benefits, filing at 62 generally means locking in reduced monthly checks for life.
If your full retirement age is 67, which applies if you were born in 1960 or later, claiming Social Security at 62 means accepting benefits that are 30% lower. That could make it harder to pay your bills in retirement or have money for extras that make life more enjoyable.
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Details
Source
Originally published at www.fool.com.
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