Claiming Social Security benefits at age 62 provides an early financial resource for many but carries heavy long-term implications. Beneficiaries who start early face a potential 30% reduction in benefits compared to waiting until full retirement age. For those who wish to work part-time while receiving benefits, an earnings limit of $23,400 in 2025 applies, resulting in deductions from benefits earned over this threshold. Financial planning is crucial, and early application is advised to ensure a smoother transition into retirement.
There are significant implications to starting Social Security benefits at 62, including a reduced monthly amount and an earnings limit of $23,400 in 2025 that impacts part-time work.
Receiving Social Security benefits at age 62 marks the earliest opportunity for many Americans to tap into their retirement earnings, offering a financial lifeline as they transition from full-time work to a more flexible lifestyle.
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