Your full Social Security retirement age is between 66 and 67 years of age, depending on the year you were born, but you can start collecting benefits as early as age 62. In this video, Certified Financial Planner® Matt Frankel discusses what happens to your monthly benefit checks if you decide to claim your retirement benefit early.
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What Happens If You Claim Social Security Early?
Here's what to expect if you claim Social Security before reaching your full retirement age.
About the Author
Matt Frankel, CFP, is a contributing Motley Fool Personal Finance Expert and Stock Market Analyst covering financial and real estate sectors, plus personal finance. Prior to The Motley Fool, Matt was a high school and collegiate mathematics instructor. He holds a B.S. in Physics from University of South Carolina, an M.S. in Mathematics from Nova Southeastern University, and a graduate certificate in financial planning from Florida State University. Fun fact: Matt won a SABEW award for coverage of the 2017 Tax Cuts and Jobs Act.
The Motley Fool has a disclosure policy. Matthew Frankel, CFP, is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
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