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Should you claim Social Security at 62?
Here’s a reality check: 62 is the most popular age for people to claim their Social Security benefits. That seems somewhat counter-intuitive when you consider that there will be a sizable increase in your benefit payment for each year you wait beyond that, which is a fact that most financial advisors will cite to encourage you to wait at least until your full retirement age (66 or 67, depending upon the year you were born). But here’s another reality - there are at least several really good reasons why your smartest choice is to forego the higher benefit check and take your benefits at age 62, as explained in this Motley Fool article by Maurie Backman. Click here to read more.
If you’re unsure about how these basics apply to you, or if you have any questions about your individual situation under Social Security, note that the AMAC Foundation provides a free-to-the-public advisory service to help Americans navigate the complexities of this program. Learn more about it here…
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.