Planning on Social Security at 62? Maybe you should wait
Well over 40% of retirees start their Social Security benefits at age 62, the earliest age possible to collect retirement benefits. That’s kind of surprising, considering the cut in benefits that they’ll take and that most retired people rely on Social Security for at least 50% of their retirement income. Waiting even just a few years can have a significant effect on what your benefit amount will be, and after you’re retired bigger is certainly going to be better. This Motley Fool article by Todd Campbell explains how waiting just a few years will put a lot more money in your pocket when you need it the most. Click here to read more.