9 Great Reasons to Claim Social Security at Age 62

When it comes to signing up for Social Security, you have choices. You can file as early as age 62, but if you don't wait to file until full retirement age -- which isn't until 67 if you were born in 1960 or later -- then your monthly benefit will be reduced on what's generally a permanent basis. Still, in some cases, claiming benefits at 62 makes sense. Here are some great reasons to go that route.

The $17,166 Social Security bonus most retirees completely overlook
If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $17,166 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Simply click here to discover how to learn more about these strategies.

Losing a job later in life can be a tough blow, and you might struggle to find work once you're let go. If you're downsized out of a job and can't live on your savings, then filing for Social Security makes sense -- no matter what age that happens at.

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You may run into health problems, like chronic back pain, that prevent you from doing your job. If that's the case, you may need to claim Social Security at 62 to manage your expenses.

Many people are forced out of work, either on a partial or full-time basis, when loved ones get hurt or sick. If you're suddenly being put in the position of having to be a caregiver, you may need to claim Social Security to compensate for not working your usual hours.

If you expect to pass away at a fairly young age, then you may get more money from Social Security in your lifetime by claiming benefits at 62. Even though you'll get less money on a monthly basis, you'll also get many more months of individual payments by filing early, so that all told, you come out ahead.

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Maybe you work a stressful job, and after many years, it's taking a toll on your health. Claiming Social Security at 62 could be your ticket out of a very harmful situation.

Starting a business could give you an opportunity to make money and do something meaningful with your time in retirement. If you claim Social Security early, you can use your benefits as seed money to get your venture off the ground.

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Claiming Social Security at 62 will give you a lower monthly benefit. But if you have a spouse who's entitled to a separate benefit, claiming early might make it so your spouse can delay his or her filing for a larger benefit. That way, you get some money immediately, and more money down the line.

You're allowed to undo your Social Security filing once in your lifetime. If you need money in a pinch, claiming Social Security at 62 makes sense if you think you'll be able to repay that sum quickly. If so, you can file early, and then if you undo your filing and pay all of your benefits back within a year, you'll be allowed to sign up for Social Security again at a later age, thereby potentially avoiding a lifelong reduction in your monthly payments.

The $17,166 Social Security bonus most retirees completely overlook
If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $17,166 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Simply click here to discover how to learn more about these strategies.

Social Security could end up being an important retirement income source for you, so it's important to claim benefits strategically. While there are plenty of great reasons to sign up at 62, make sure you understand the downside of filing early so you don't regret your decision later in life.

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