Before you assume that age 62 is the best time for you to claim your benefits, read this - The Motley Fool
When it’s time to sign up for your Social Security benefits, you have some flexibility. You can sign up as early as age 62 or as late as age 70; however, there is no financial incentive to postpone after age 70. There is a downside to filing at age 62 and an upside to filing at age 70. Filing at age 62 will result in the largest reduction possible; whereas, filing at age 70 will result in the largest increase possible. So why is age 62 the most popular age to file for Social Security? In Maurie Backman’s article for the Motley Fool, she writes, “a lot of people are willing to forgo a higher benefit to get their money sooner, but you may want to reconsider.” To read why Ms. Backman suggests the reasons you may want to reconsider filing for your Social Security benefit early, click here…
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