Delaying your claim for benefits gives you the chance to boost the Social Security income you'll receive for the rest of your life, so it's worth seriously considering. After giving the matter careful thought, you may decide it's smart to claim benefits at 62 even if this reduces your benefits. But if you claim early, you want to do so for the right reasons. However, far too many people start receiving Social Security at 62 for awful reasons, such as the ones we'll discuss here.
1. Because you believe the rumors about Social Security
Social Security is going broke. That's a persistent rumor that's left more than half of all Americans thinking they won't receive any Social Security benefits.
The problem is, the rumor isn't true. While the Social Security trust fund is slated to run out of money in 2034, chances are changes will be made to the program before then. And, even in a worst-case scenario, Social Security will still pay around three-quarters of promised benefits if the trust fund goes broke. That's because much of Social Security's funding comes from payroll taxes collected from current workers.