Claiming Social Security at age 62 reduces benefits by 30%, offering immediate financial flexibility

From Nasdaq: 2025-02-23 06:55:00

Approaching retirement involves important decisions like where to retire, savings withdrawal strategies, and when to claim Social Security. Claiming at 62 reduces monthly benefits by 30%, providing flexibility but impacting long-term payouts. Break-even ages vary between claiming at 62, 65, and 67, affecting total benefits received. Claiming earlier offers financial flexibility for immediate retirement enjoyment, with missed payments increasing the longer you delay. While no one decision fits all, claiming at 62 allows for more active retirement years. Secret Social Security strategies could boost retirement income significantly, providing peace of mind for the future.



Read more at Nasdaq: Deciding When to Claim Social Security? Here’s Why Age 62 Might Make Sense