Motley Fool Urges 3 Steps Before Claiming Social Security at 62

4 articles · Updated · The Motley Fool · Jun 1

Three checks top the list before filing: estimate any permanent benefit cut, verify your earnings record, and coordinate the decision with your spouse.
Age 62 is the earliest claiming point, but workers born in 1960 or later must wait until 67 for full retirement benefits without a reduction.
Social Security bases payments on the highest 35 years of earnings, so errors on SSA records can lower monthly checks unless corrected with documents such as W-2s or tax returns.
Married couples may need a joint strategy because an early claim can also reduce survivor benefits for a lower-earning spouse, while one partner delaying can boost household income later.

With benefit cuts looming by 2033, is delaying your Social Security claim still the smartest financial move?

Could claiming Social Security early actually protect your retirement portfolio from a market downturn?