Collecting Social Security at 62: Yea or Nay?
While boomers are being told to wait to collect Social Security as long as possible, a growing number are flouting the advice of financial planners to claim their first payments at 62, the earliest age to file. This is happening in spite of the fact that by delaying benefits individuals can boost their payments by 7% to 8% each year until age 70. Seems that many 60 plusers are becoming increasingly afraid that lawmakers will raise the retirement age of Social Security or shrink benefits. To learn more about this trend and its ramifications, click here.