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Taking Social Security at age 62 can make sense for retirees with health issues. If you're done working for good and do not expect to earn above the annual limit for Social Security...
Most people can get Social Security retirement at 62, but they typically can't get 100% of their benefits until 67. At age 70, they get 124% of their benefits.
You can reap a higher benefit at “full” retirement age — from 66-67 depending on when you were born — and the highest-possible benefit at age 70. Social Security will pay you more for waiting.
Considering whether to take Social Security benefits at 62 vs. 67 vs. 70? Learn how claiming your Social Security will affect you at each age. You may be eligible to collect Social Security as early as 62, but waiting until age 70 yields greater benefits for most people.
Now, you don't necessarily have to take Social Security as soon as you retire. If you can swing it financially, you could retire at 62 and delay benefits by several years.
Key Points. The Social Security Administration relies on four easy-to-understand components when calculating monthly retired-worker benefits. Popular Social Security claiming ages 62, 65,...
Most people take Social Security at age 62 even though they are giving up 30% of their future income. "If you're still working at age 62 or you have other sources of income, it might make sense to wait until full retirement age or age 70 to take Social Security," says Amy Colton, founder of the Austin, Texas-based firm Your Divorce Made Simple ...
Eligible beneficiaries can begin receiving their retired-worker benefit as early as age 62. However, Social Security strongly encourages workers to be patient. For every year an eligible...
Taking Social Security benefits at age 62 vs. 67 vs. 70 can impact how much you receive. Here are some things to think about as you decide when to start.
Age 62 is the earliest you can claim benefits, 67 is most people's full retirement age, and 70 is when monthly benefits stop increasing if you delay claiming them past your full...