If you've saved and invested and aren't counting on Social Security to cover your expenses, filing at 62 may make sense.
Another good reason to claim Social Security at 62 is if you're in poor health and don't expect to live a long life. Filing early might reduce your benefits on a monthly basis. But if you only live ...
Delaying Social Security past 62 increases monthly benefits by 5% to 8% per year until age 70. Claiming Social Security at 62 offers more years of benefits but reduces payments up to 30%. Working past ...
Those who work long, high-paying careers can receive thousands of dollars above the average Social Security benefit.
Explore the Social Security benefit amounts you can receive at various retirement ages and whether the monthly amount or the lifetime amount matters more to you.
Choose your claiming age carefully and understand how this affects the size of your benefit. It's best to apply several months in advance of when you hope to claim. Gather your documents ahead of time ...
The average retired worker gets about $2,000 per month from Social Security. Beneficiaries who are 62 years old get about $650 less, on average. Claiming Social Security at 62 can result in a benefit ...
For many Americans, Social Security is the cornerstone of retirement income. Nearly 90% of people over age 65 receive benefits from the program, according to the latest data from the Social Security ...
Claiming at 62 -- the earliest you can -- will reduce your monthly checks by up to 30%. Claiming that early could make sense if you have a short life expectancy or lack personal savings. It's natural ...
Few decisions are as important as deciding when you want to claim Social Security as you approach retirement. It's a decision that will permanently affect your monthly benefit, altering how your ...