If you claim Social Security before reaching your full retirement age, your benefits will be permanently reduced. But as Certified Financial Planner® Matt Frankel explains in this short video, there are some situations -- including a couple many Americans aren't aware of -- where it makes good financial sense to start collecting your checks early.
Your Social Security benefit will be reduced, but in some cases it can still make sense to start collecting benefits early.
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.