Claiming Social Security benefits at 62 can reduce the size of checks and impact family benefits.

From Nasdaq: 2025-02-01 18:00:00

Nearly one-quarter of Social Security beneficiaries apply for benefits at age 62, the most popular claiming age. But there are trade-offs, including reducing the size of your checks and potentially losing money to the earnings test. Claiming early can also reduce survivors benefits for your family. However, claiming at 62 may make sense if you need the income or have a shorter life expectancy. Delaying benefits can result in larger checks, with the option to continue delaying until age 70 for up to a 32% increase. Consider all factors before deciding when to claim Social Security.



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