Things you need to know if you are claiming Social Security at 62 - The Motley Fool

The most popular age to begin collecting Social Security benefits is age 62. However, if you choose to retire as early as age 62, it may result in a reduction in your Social Security monthly benefits by as much as 30 percent. In the case of early retirement, your monthly benefit is reduced 5/9 of one percent for each month before your full retirement age, up to 36 months. If the number of months exceeds 36, then the benefit is further reduced 5/12 of one percent per month. Maurie Backman’s article for The Motley Fool outlines other things you need to know before claiming Social Security at 62. Read Ms. Backman’s article here…

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