Should I Claim Social Security at 62? - CNN Business
Sounds like a simple question, right? Well, trust me, there is not really a simple answer to whether you should claim SS at age 62. Of course, age 62 is when you first become eligible for SS retirement benefits, but whether claiming at 62 would be a smart move for you depends very much on your personal circumstances, as described in this CNN Business article by Jeanne Sahadi. Claiming at 62 may be prudent, but only under the right circumstances. For example, if you are in poor health and don’t expect at least an average longevity, claiming at 62 could be exactly the right decision.
But if your life expectancy is still far off, or if you are married, or if you are still working full time, or if you don’t urgently need the SS money, then claiming at age 62 would likely be precisely the wrong decision. You’ll get a lot more SS money if you wait longer to claim and, if you have a decent life expectancy, you will get more in lifetime SS benefits Plus, your surviving spouse will likely do better as your widow(er) as well. All of this is laid out in this excellent article posted at CNN Business news. Click here to read more.
Social Security is a complex topic. If you’re unsure about how these basics apply to you, or if you have any questions about your individual situation under Social Security or enrollment in Medicare, note that the AMAC Foundation provides a free-to-the-public advisory service to help Americans navigate the complexities of these programs. All questions are answered quickly, at no charge. Learn more about it here…