Sorry to Say: You Probably Shouldn't Claim Social Security at 62

Maurie Backman, The Motley Fool
·3 min read
Sorry to Say: You Probably Shouldn't Claim Social Security at 62

Ideally, once you reach retirement, your portfolio assets will be allocated in a manner that's appropriate for your age. Claiming Social Security strategically, however, could make you less reliant on your portfolio. If you sign up for Social Security at age 62, which is the earliest age to start receiving benefits, your payments will be 25% to 30% lower than what they would've been at FRA (the exact percentage will hinge on your exact FRA).

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