The Surprising Reason You May Want to Claim Social Security at 70
There's a reason 62 is a popular age to claim Social Security: It's the earliest age to sign up. And it's hard to pass up that opportunity, given that you don't know what the future holds -- and that it's always a nice thing to get your hands on money right away.But you should know that filing for Social Security at 62 will reduce your monthly benefits permanently. If you want the benefits you're entitled to without a reduction, you'll have to wait until full retirement age, which is 67 for anyone born in 1960 or later.Image source: Getty Images.Continue reading
There's a reason 62 is a popular age to claim Social Security: It's the earliest age to sign up. And it's hard to pass up that opportunity, given that you don't know what the future holds -- and that it's always a nice thing to get your hands on money right away.
But you should know that filing for Social Security at 62 will reduce your monthly benefits permanently. If you want the benefits you're entitled to without a reduction, you'll have to wait until full retirement age, which is 67 for anyone born in 1960 or later.
Image source: Getty Images.
