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If you've been considering taking Social Security as early as possible at age 62, there are three clear signs that might be the best decision. Person walking on the beach with a dog. Image source ...
Image source: Getty Images. 1. You don't have a plan to provide supplementary income. The biggest sign that you are not yet ready to claim Social Security is if you haven't figured out where the ...
You've decided that 2025 is the year you're finally going to claim Social Security. The government bases your Social Security benefits on your income during your working years and your age at sign-up.
Social Security is an important part of many Americans' retirement plans, replacing about 40% of their pre-retirement annual income. As of April 2024, the average monthly payout was approximately...
Image source: Getty Images. 1. Your savings are running out. If you are living on your savings because you aren't working anymore and you're seeing your account balance dwindle, you need to act ...
At 62, she retired from a job paying almost $60,000 a year and opted to take Social Security early. She received $1,290 a month, about $400 a month less than if she had waited until 67.
This situation is the single best reason to take Social Security at such a young age since, in this case, an early claim can help you protect one of your two most crucial income sources as a retiree.
Read Next: Social Security Benefits Might Be Harder To Qualify for in the Future: Here’s What You Need To Know Check Out: 5 Low-Risk Ways To Build Your Retirement Savings in 2025
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related to: signs someone is needy in texas is taking social security