Claiming Social Security at 62 permanently cuts monthly benefits by 30%, but the right claiming age depends on health, finances, and goals.
Poor health or a family history of shorter lifespans can make early claiming smarter, since more payments may outweigh smaller monthly checks.
During a market downturn, claiming at 62 lets retirees avoid selling investments at a loss to cover living expenses.
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Age 62 is the earliest age you can claim Social Security. And you'll often hear that doing so is a bad idea.