10 reasons you should claim Social Security early

Your retirement planning likely includes getting income from the Social Security Administration, but when you start collecting Social Security benefits can have a big impact on your planning. The earliest you can collect is age 62, but you'll get more money if you delay your benefits past your initial Social Security eligibility. If you wait until after your full retirement age (somewhere between 65 and 67) to start collecting Social Security you can earn delayed retirement credits, which will increase your benefits even more.

You might think that waiting for bigger benefits is better, but that's not always the case. There is no definitive answer to when you should collect Social Security benefits, and taking them as soon as you hit the early retirement age of 62 might be the best financial move.

Click through to learn when you might want to start taking Social Security at 62.

This article originally appeared on GOBankingRates.com: 10 Reasons You Should Claim Social Security Early

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