Claiming Social Security Early? 3 "Gotchas" to Look Out For
It's not just smaller benefits you have to think about.
Overview
There's a key retirement decision seniors grapple with all the time -- when to sign up for Social Security benefits. The earliest age you can file for Social Security is 62. But if you want your monthly checks without a reduction, you'll need to wait for full retirement age, which is 67 if you were born in 1960 or any year after.
Of course, it's tempting to claim benefits at 62 and get that money as soon as possible. But in doing so, you'll reduce your monthly checks by about 30% compared to waiting for full retirement age.
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Details
Source
Originally published at www.fool.com.
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