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Here are some solid reasons to start taking your Social Security benefits as soon as you can. Health status Health issues rank high on the list of concerns in a 2021 Gallup poll cited by Experian.
Negative Effects of Claiming Social Security at 62. ... Just be aware that your benefits could be reduced by up to 30% by choosing not to wait until your full retirement age.
Claiming Social Security at age 62 may make sense if you plan to hang up your work boots and begin your retirement as soon as possible. Reasons To Wait Here’s a look at why you might want to ...
The way Social Security is set up, the longer you wait to collect retirement benefits, the higher your monthly payment. Claiming benefits at age 62 means you will get the smallest possible check.
The earliest you can file for Social Security is 62 and you’ve reached “full retirement” — when you can collect 100% of your eligible benefit — between 66 (those born 1943-54) and 67 ...
If you turn 62 this year and decide to claim your benefit, you’ll receive 30% less than you’d get by waiting till full retirement at 67, according to the Social Security Administration (SSA).
You can start getting Social Security retirement benefits when you turn 62 years old, the earliest age when they're available. However, there are downsides to starting benefits at such a young age.
The average retired worker collects around $1,298 per month at age 62 and roughly $1,884 per month at age 67, according to data released by the Social Security Administration in December 2023.