American workers who are eligible for benefits can claim Social Security as early as age 62, although full retirement age isn’t until at least 66. The most common age at which people file for their Social Security retirement benefit — you guessed it — 62. It’s easy to see why many people want that money as soon as possible, but for some retirees, it pays to wait.
Here’s what you need to know about claiming Social Security early, and whether or not it could be the right move for you.