Social Security / 1 posts found
Taking Social Security at 62 is causing Seniors to lose 30%
July 24, 2019 @ 2:12 pm
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Many Seniors who would get full benefits at 67, are taking their Social Security at 62 for various reasons. The problem is, its costing them up to 30% of the income they could be collecting by waiting. For each year benefits are claimed before full retirement age, they’re reduced as follows: 6.7% a year for the first three years. 5% a year for each year thereafter. That turns into a large chunk of income. So why is this happening? The reference article is found at: Get Your Free Savings Analysis