If I Could Tell All Retirees 1 Thing About Social Security, I'd Say to Do This Before You Claim Benefits
It's a step you can't afford to gloss over.
Older Americans get choices when it comes to claiming Social Security. The earliest age you can file for benefits is 62, and waiting until full retirement age means avoiding a reduction in your monthly paycheck. You can also delay Social Security past full retirement age for a larger benefit each month for life.
Not surprisingly, a lot of people opt to claim Social Security early to get their money sooner. Doing so could, in some cases, result in the highest possible lifetime payout, despite a reduced benefit on a monthly basis.
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