You Might Come Out Ahead Financially by Claiming Social Security at 62
When it comes to claiming Social Security, people have many choices. You can sign up for benefits as soon as you turn 62. You could also sign up at 65 in conjunction with your Medicare enrollment. Or you could wait until your full retirement age (FRA), which for anyone not yet retired today will be 66, 67, or somewhere in between, depending on the year you were born. Indeed, you can file more or less anytime after you turn 62.
But if you wait until your FRA, you'll be eligible for what the government defines as your "full monthly benefit" based on your wage history. Filing prior to that will result in you getting smaller monthly Social Security checks for life.
Image source: Getty Images.
Source Fool.com
