At 62, you become eligible to claim Social Security benefits, but it’s worth noting that your full retirement age extends well beyond that. The general belief is that claiming Social Security earlier is logical if you are in poor health. By postponing the benefits, you receive larger monthly checks, although it takes time for these higher payments to compensate for the income you forego by not claiming immediately. If your life expectancy is limited, claiming early and obtaining as much money as possible right away might make sense.
