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Turning 62 is a big milestone. For many, it marks the end of a decades-long career. It also signals eligibility for Social Security benefits, a primary source of income for a lot of retirees.
Specifically, someone with a full retirement age of 67 (born in 1960 or later) will reduce their benefit by 30% if they claim at age 62. That could mean hundreds of dollars per month for your spouse.
Data source: Social Security Administration. Chart by author. Here's the maximum possible 2025 Social Security benefit at 62, 67, and 70. Earning a high salary throughout your career is just one ...
Your PIA is the amount you'd receive if you apply for Social Security benefits the month you reach your full retirement age (FRA), which will range between 66 and 67, depending on when you were born.
The age you begin claiming Social Security will permanently affect your benefit amount, so it's a decision to be made carefully. Age 62 is the earliest you can file, and it's also a popular time ...
The lure of claiming benefits at age 62 is not having to wait to get your hands on your benefit. There's also the possibility of sweeping Social Security benefit cuts by 2033 .