When you've spent four decades or more in the workforce, it's understandable to be drawn to the idea of claiming those ...

Key Points Filing for Social Security at 62 will typically result in a reduced monthly benefit for life.There are some ...

Claiming Social Security at 62 is often dismissed as a mistake, but for some retirees, it can be a strategic decision that ...

If you're like most people, the earliest you can claim Social Security benefits is age 62. Waiting until later, though, will ...

Importantly, the average Social Security benefit tends to increase over time because of inflation and changes in average wages. For instance, the average monthly retired-worker benefit at age 70 is ...

The resounding advice about filing early for Social Security retirement benefits is pretty unambiguous: Don’t do it. However, ...

Simply put, if you signed up for Social Security at 62 but regret it after the fact, you can undo your filing and claim benefits again at a later age, thereby increasing them. But there’s a catch.

Consider your particular situation when deciding whether or not claiming Social Security at 62 makes sense for you. If you’re one of the over 4 Million Americans retiring this year, pay attention.

Claiming Social Security before that point will result in a reduced benefit. And if full retirement age for you is 67, then filing at age 62 will mean accepting a 30% hit to your benefits -- for life.

Claiming early will reduce your benefits by up to 30% (if you have an FRA of 67 and claim at 62), but if you can survive on smaller checks, it might be a good idea.

To 'beat' Social Security, you'd have to play a risky game. If you claim the benefit at 62, you would have an eight-year head start over someone who collects their first check at 70.

One of the most popular ages to claim Social Security is also the earliest: 62. It's easy to understand why so many people apply right away. The sooner you sign up, the more months of checks you ...