The article discusses the implications of claiming Social Security benefits at age 62, the earliest eligibility age. While this option leads to reduced monthly payments, there are valid reasons for doing so. Factors such as unemployment, part-time work, or caregiving responsibilities can create financial strains that make early claiming appealing. The article emphasizes careful consideration of personal circumstances before deciding, and also mentions tools available to help with financial planning as retirement approaches.
Filing for Social Security at 62 will result in a significant hit to your monthly benefits, so it's not a decision to take lightly.
It's unfortunate that if you're downsized out of a job or let go during restructuring, it can be very difficult to get rehired in your 60s.
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