7. Claiming Social Security Too Early
You can start collecting Social Security benefits when you turn 62, but you won’t get the full benefit until you reach your full retirement age.
Tom Foster, national spokesperson at MassMutual Financial Group, shared the results of a MassMutual Retirement Services study that showed “those who took concrete steps, such as calculating the best time to collect Social Security, targeting how much money they would need to afford retirement and increasing savings, report feeling more financially secure in retirement.”
Claim the Right Way: Find Out If You’re Maximizing Your Social Security Benefits