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What are the rules for collecting Social Security at age 62?
You can receive Social Security benefits based on your earnings record if you are age 62 or older, or disabled or blind and have enough work credits. Family members who qualify for benefits on your work record do not need work credits.
Is it better to take Social Security at 62 or 63?
To be clear, you are allowed to file for Social Security at 63. In fact, you can do so as early as age 62, and not surprisingly, that’s the most popular age to claim benefits. If you were to file for Social Security at age 63 with a full retirement age of 66, you’d lose about 20% of your monthly benefit amount.
Can I get a tax refund if my only income is Social Security?
However, if you live on Social Security benefits alone, you don’t include this in gross income. If this is the only income you receive, then your gross income equals zero, and you don’t have to file a federal income tax return.
Is 62 a good age to claim social security?
But in spite of that reduction, 62 is still a great age to claim benefits. For one thing, filing for Social Security at 62 could be your ticket to early retirement. Many people work hard all their lives and save diligently for the future.
Should you start Social Security at age 62?
You can start your Social Security retirement benefits as early as age 62 or as late as age 70. Your monthly benefit amount will be different depending on the age you start receiving it.
When is it appropriate to take Social Security at age 62?
A: You can certainly start your Social Security retirement benefits as early as age 62, but advisers tend to advise against in most, but not all, cases. One reason why advisers are so against claiming at age 62 is that the benefit amount you receive will be less than your full retirement benefit amount.
What are the requirements to collect Social Security at 62?
You can receive Social Security benefits based on your earnings record if you are age 62 or older, or disabled or blind and have enough work credits. Family members who qualify for benefits on your work record do not need work credits.