"That said, how it works is that at full retirement age (FRA), you can claim 100% of your Social Security benefits, which are calculated based on your lifetime earnings. Historically, that age was 65, but it has been gradually increasing to age 67, due to changes in Social Security's financial structure that Congress enacted in 1983, according to the American Association of Retired Persons (AARP), a nonprofit, nonpartisan organization for Americans 50 and older."
"Some financial influencers, or "finfluencers" on YouTube and TikTok have posted about the issue and recommended that people take the payout starting at 62, and invest that money monthly in the stock market-which is the opposite advice of most expert financial planners. According to the arguments on TikTok, from users such as the Medicare Family, doing this makes sense for some people, namely if you are sick ("and may not live to be 70"); or even "if you are going to live a long time,""
Social Security monthly benefits depend on the age at which benefits are claimed relative to full retirement age (FRA). At FRA beneficiaries receive 100% of benefits calculated from lifetime earnings; FRA has risen from 65 toward 67 due to reforms enacted in 1983. Claiming before FRA, for example at 62, reduces monthly payments by a fraction for each month claimed early. Waiting until age 70 produces the maximum monthly benefit. Some social-media financial influencers recommend claiming at 62 and investing the proceeds, while most expert planners generally recommend delaying claims to maximize guaranteed income. Contacting a financial advisor is important for retirement decisions.
Read at Fast Company
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