Should You Take Social Security at 62, 67, or 70?
Your decision about when to claim benefits will shape your lifetime income -- so is 62, 67, or 70 the right option?
Social Security offers flexibility to seniors by allowing retirees to claim benefits at a choice of different ages, depending on what makes sense for them. The earliest age when you can claim your retirement benefits is 62, but once you reach that milestone, you can start collecting payments at any time -- although waiting beyond 70 typically would not make sense.
With such a wide range of choices about when to get your checks started, the big question is, when should you file for your benefits to begin? Three of the most common ages are 62, 67, and 70. Here are some details about why so many people claim at these points, and how to decide which is right for you.
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