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3 Reasons 62-Year-Olds Should Take Social Security Now – The Motley Fool



As people approach retirement, it's natural to ask for Social Security as soon as possible. Even though waiting beyond the earliest claiming age of 62 for retirement benefits

The trade-offs between more benefits later or sooner. Social Security at 62. Here are a few of the most important ones that millions of retirees and near-retirees face all the time

 Two Social Security cards on top of a $ 100 bill.

Image source: Getty Images.

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In order to claim a spouse, child, or other eligible family member to make a living, you will have to make a claim. This was not the case, because of the retirees could use strategies like file-and-suspend to activate spousal or childrens' benefits.

This is often the case in one-earner families in which the nonworking spouse is older than the working spouse. For instance, if you have four years older than you, you may have to wait for the claim.

So, children's benefits tend to be available only for a short period of time – until the child turns 18 or graduates from high school.

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Unlike most benefits, a surviving spouse may make a separate claim about surviving spouse's work and claim to surviving spouse's own retirement benefit. Therefore, it often makes sense to claim retirement benefits.

At first glance, it might seem like this would result in smaller checks than what you'd get if you claimed all your benefits at once. But because of the social security calculates payments, you can often get paid just by claiming one of your benefits and then getting more money. This is one of the only situations in which Social Security

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One of the most widely used social security provisions involves employees who work in the public sector in a state that does not participate in social security. Through the Windfall Elimination Commission, you can get as much as $ 447.50 per month in Social Security Benefits if you have a career in the public sector. In some extreme cases, this may be the only way out of your public pension.

If you are eligible for public pension benefits, then claim social Security before that can be done. Social Security, as the Windfall Elimination Commission only applies to current and future payments.

Make the right choice

There Social security until well beyond 62 is the smartest move. However, that's not always the case. In these particular cases, claiming early can sometimes be the best decision you could make.


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