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Filing for Social Security at 62 typically means locking in a lower benefit for life. Thanks to a lesser-known rule, you’re not automatically stuck with a reduced benefit. Put lots of thought ...
Age 62 is the earliest that you can file for Social Security, and therefore it results in the smallest benefit. Your full retirement age benefit will be reduced by 30%, from $1,000 to $700. Age 63
Many look forward to the day they can start taking Social Security benefits. Some people take it as early as age 62 when they’re first eligible, while others wait for maximum benefits until ...
The point is simply to not call claiming benefits at 62 an automatic risk -- because when you think about it, claiming Social Security at any given age over another carries inherent risk.
By contrast, if you claim Social Security at 62 with a full retirement age of 67, you're looking at about a 30% reduction in your monthly payments. And that might seem like a hard pill to swallow.
What this means is that signing up between ages 62 and 67 results in a reduced benefit. And the earlier you file, the more of a reduction you face. There's also the option to delay Social Security ...
If you file at 62, benefit reduced by: A $1,000 check becomes. 66. 25 percent. $750. 66 and 2 months. 25.83 percent. $741. ... well after when you can begin to file for Social Security.
There aren't many social programs in the U.S. that have had as much of a positive impact as Social Security retirement benefits. For most recipients, it's a well-earned benefit after years of ...