A Social Security Myth That Will Hurt You - MSN.com
According to a recent nationwide survey, nearly half of all Americans harbor a financially dangerous belief – that they can claim their Social Security benefit at age 62 and it will automatically be increased when they reach their full retirement age – which is absolutely false! True, Social Security can be claimed as early as age 62, but doing so will result in a permanent cut of up to 30% of your benefit amount; once you claim, that’s the benefit you’ll be getting for the rest of your life. The only way to get your full benefit amount, the full payment you’ve earned from a lifetime of working, is to wait until you reach your full retirement age to claim your benefits, as is fully explained in this Motley Fool article by Christy Bieber appearing at MSN.com. Click here to read more.