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Should I begin collecting Social Security at age 62 when I retire or at age 67, which is my full retirement age?

I will stop working at age 62. I can survive financially for several years without Social Security. If I wait to FRA at age 67, I will have no earned income since age 62. Those years will count as zero when they calculate my SS benefit. I'm I better off collecting at 62 with no zero years in the averaging, or should I collect at 67?

Social Security, Retirement Plans
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April 2019

Absolutely not, the 62 year benefit is based upon a reduction penalty of the normal retirement benefit at 67.  You should wait to 67.  In fact, if you are healthy I recommend waiting to age 70 because you receive a significant (25%) increase for live by waiting to 70.

April 2019
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