What is special about turning 62?


What is special about turning 62? Age 62 is the earliest point at which you can claim Social Security. But if you file at that age, you'll reduce the monthly benefit you're entitled to collect -- potentially for life.


What are the disadvantages of retiring at 62?

The cons of early retirement include: Years of no income. A potential health insurance crunch. A loss of meaning.


What is the lowest Social Security payment at age 62?

  • Social Security's special minimum benefit pays at least $49.40 per month in 2023 and $50.90 in 2024.
  • Social Security's special minimum benefit tops out at $1,033.50 per month in 2023 and $1,066.50 in 2024.
  • You'll receive 100% of the benefit if you file at full retirement age or later.


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