Reasons to Claim Earlier or Later
Social Security benefits become available when you turn 62 but can be claimed at any point afterwards. Most claim benefits at 62 or at full retirement age. While there are many reasons why you would want to claim early or wait, there is no one age that works for everyone. Earlier claimers usually do so because they can’t afford to wait and need the money. It is generally accepted by most experts, however, that if you can wait you should. Since waiting until a higher age means that you receive higher monthly payments, most agree that it is worth working a few extra years and waiting to retire in order to reach these higher payouts. For more information visit this article by Matthew Frankel with The Motley Fool.
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