This Social Security mistake can cost you in more ways than one.
It’s easy to rush into retirement as quickly as possible. While Social Security allows you to begin taking benefits at age 62, this could be an error.
Taking benefits early means fewer years in the workforce, which could lower your benefit amount in total. Rushing to retire could result in missed money — but is this always the case?
We should mention there are some situations where early retirement makes sense. If you’re having health issues or your job isn’t stable, retiring early can be a wise move. If you have a very long life expectancy, you may even get more money in total by taking benefits early than you would’ve by waiting until the full retirement age.
It all depends on your situation. But we here at the Council for Retirement Security aim to protect benefits for all seniors. We’re working to do this through our Social Security Lock-Box Petition. Check it out, bookmark our page for more content like this, then follow us on Facebook and Twitter.