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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. Taking your payout ...
Anyone turning 62 this year or later has an FRA of 67, meaning claiming benefits at 62 would reduce the monthly amount by 30%. For example, if you were slated to receive $2,000 monthly at 67, you ...
By claiming at the age of 62, a hypothetical $1000 retirement benefit would be reduced by 25% and you would only receive $750 per month. A $500 monthly spousal benefit would be reduced to $350.
Data source: Social Security Administration. Here's the maximum possible Social Security benefit at ages 62, 66, 67, and 70. Determining the best age to claim Social Security will come down to ...
The earliest you can claim Social Security benefits is 62, but doing so could reduce your monthly benefit by up to 30% (for those whose full retirement age is 67). That said, many people would ...
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 ...
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