Why You Shouldn't Claim Social Security at Age 62

For millions of retirees, Social Security is an important source of income. 

There is a good chance that it will also play a significant role in your retirement finances. 

Your filing age will determine how much monthly income you receive from this program, 

So claiming benefits at the right time is crucial. Depending on your earnings history at full retirement age, 

You are eligible to receive your full monthly benefit. Benefits will be reduced if you file before FRA.

Not surprisingly, Social Security is most popular among seniors when they reach age 62, 

the earliest you can sign up. However, there are three reasons why you may not want to 

file for Social Security at 62 even though there are plenty of good reasons to do so.


If you claim Social Security before FRA, your benefits will be temporarily reduced, 

But will return to their full amount once you reach your FRA. When you file for Social Security at 62, 

You'll lock in a monthly benefit that's 25% to 30% lower than it would be at full retirement age.

This reduction will remain in place permanently, leaving you with less monthly retirement income.

You can technically reverse an early Social Security filing by repaying all the money you received 

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