Reported 3 days ago
Deciding to retire at 62 means you'll start receiving Social Security benefits earlier, but at a significant cost. While you can claim benefits at 62, this leads to a permanent reduction in your monthly payments—up to 30% less than if you wait until your full retirement age (66 or 67). Calculators can help estimate your benefits based on income, with the numbers illustrating the financial trade-off of filing early versus delaying. Ultimately, it’s crucial to weigh immediate cash needs against long-term financial health when making this decision.
Source: YAHOO