Reported 2 months ago
Deciding when to claim Social Security is a significant retirement choice, as it affects monthly benefits. The most common claiming ages are 62, 66 (full retirement age), and 65, with approximately 23% of men and 24.5% of women claiming benefits at age 62. While claiming early provides more years of benefit collection, it results in smaller monthly payments. Conversely, waiting until age 70 can maximize benefits but is less common. Understanding the reasoning behind these claiming ages can help individuals make informed choices about their retirement.
Source: YAHOO