Why Do So Many People Claim Social Security At 62?

newsfeedback@fool.com (Christy Bieber), The Motley Fool
Thu, 12/14/2017 - 4:03am

The most popular age in America to claim Social Security benefits is age 62, according to the Center for Retirement Research. In fact, in 2013, 48% of all women and 42% of all men who claimed Social Security retirement benefits were just 62 years old. Since 62 is the youngest age at which these benefits can be claimed, it's clear that more than 4 in 10 Americans can't wait to get their hands on Social Security checks. Unfortunately, for millions of retirees, benefits will be significantly lower if they claim benefits at 62 than if they wait until full retirement age (FRA).

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