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Why people who claim Social Security early often live to regret it

Mark Hulbert
Why people who claim Social Security early often live to regret it

Your retirement standard of living could very well be worse if you claim your Social Security benefits at age 62. Assuming their life expectancy is equal to what the actuarial tables predict, the total benefits they receive in retirement will essentially be the same as if they had waited and received fewer years of higher monthly benefits. A new study nevertheless finds that early claiming leads to a significant increase in the number of retirees living in poverty.