Choose a claiming age, multiply the monthly benefit by 12, and then multiply that by the number of years you expect to ...

One of the biggest factors impacting your monthly Social Security benefit is when you decide to apply for benefits. Most ...

Most collect Social Security at 62. However, ChatGPT suggested waiting until 70 to maximize benefits, boost survivor payouts, ...

One of the most important things to know about your Social Security benefits is that the longer you wait to start collecting ...

For the average beneficiary right now, the difference between claiming when you're 62 versus claiming at the age of 70 is over $1,000 per month. That's no small amount for most households.

You can start claiming Social Security at age 62, but people born in 1960 or later will reach full retirement age — when they can receive their full benefit — at age 67.

Claiming Social Security at 62 means subjecting yourself to the maximum reduction in benefits you can face. If your FRA is 66, filing at 62 will constitute a 25% hit to your benefits.

However, you should know that for each month you claim Social Security before reaching full retirement age, your benefits are reduced permanently. And if your full retirement age is 67, which is the ...

Claiming benefits at age 62 means a permanent 30% reduction in monthly payments. In two short years, the oldest members of ...

If you would have asked me four or five years ago what I thought about claiming Social Security at age 62, I would have told you it's a terrible idea. But I've since changed my tune.

By contrast, if you claim Social Security at 62 with a full retirement age of 67, you're looking at about a 30% reduction in your monthly payments. And that might seem like a hard pill to swallow.

And if your full retirement age is 67, which is the case if you were born in 1960 or later, then claiming Social Security at 62 means slashing your monthly checks by roughly 30%.