Why Do So Many People Claim Social Security at 62?
There are millions of older Americans today who rely on Social Security for monthly income. And without that money, keeping up with bills would be a struggle.There are a couple of factors that go into calculating your monthly Social Security benefit -- namely, your earnings history and your filing age. Full retirement age is when you can collect your monthly Social Security benefits in retirement without a reduction, and that age is 67 for people born in 1960 or later.Image source: Getty Images.Continue reading
There are millions of older Americans today who rely on Social Security for monthly income. And without that money, keeping up with bills would be a struggle.
There are a couple of factors that go into calculating your monthly Social Security benefit -- namely, your earnings history and your filing age. Full retirement age is when you can collect your monthly Social Security benefits in retirement without a reduction, and that age is 67 for people born in 1960 or later.
Image source: Getty Images.
