Age 62 is, by far, the most popular age to claim Social Security benefits. While many people know they'll permanently reduce their monthly check, there are some additional drawbacks to consider.

Claiming Social Security at age 62 comes at a steep cost -- a 30% reduction in benefits. Expected longevity is an important consideration in when to claim Social Security. What's the most popular ...

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Turning 62 is a big milestone. For many, it marks the end of a decades-long career. It also signals eligibility for Social Security benefits, a primary source of income for a lot of retirees.