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.
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 stock market analyst and personal finance expert covering financial stocks, REITs, SPACs, and personal finance. Prior to The Motley Fool, Matt taught high school and college mathematics. He holds a bachelor’s degree in physics from the University of South Carolina, a master’s degree in mathematics from Nova Southeastern University, and a graduate certificate in financial planning from Florida State University. He won a SABEW award for coverage of the 2017 Tax Cuts and Jobs Act. He is also regularly interviewed by Cheddar, The National Desk, and other TV networks and publications for his financial, stock market, and investing expertise.