Why you shouldn’t claim Social Security at 62
Age 62 is a bit of a milestone for most people, because it is that age at which they can start collecting Social Security earned from a lifetime of working. But is it the best age for claiming those benefits you’ve toiled so hard all your life to earn? If judged by the fact that age 62 is the most popular age to apply for benefits, then it would certainly seem so, but a closer look will reveal that it may not be the smartest financial move you can make. For one thing, your monthly benefit will be permanently reduced and, for another, if you continue to work you may end up losing some of your benefits, as this Motley Fool article by Maurie Backman reveals. Click here to read more.