What happens if I take Social Security at 62?

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Social Security & Medicare and other Senior topics.

What happens if I take early Social Security?

What happens if I take Social Security at 62?

Are you tempted to start collecting your Social Security at the first possible moment? The earliest is when you are 62 plus one month. But your check will be reduced compared to what it would be if you wait until your full retirement age. Although you need to check with your Social Security office for specifics, generally, you forfeit about 20 percent at age 62; 13-14 percent if you wait until age 63; and about 6-7 percent at 64
Source: AARP



Nobody has commented on this tip yet. Be the first.


URL: (optional)


Not finding the advice and tips you need on this Senior Tip Site? Request a Tip Now!

Guru Spotlight
Christina Chan