Why Claiming Social Security Benefits Early Is Not a Good Retirement Strategy

Without taking some time to consider the consequences and gains, Social Security should never be taken out. There are some things you should know before applying for Social Security benefits, even though it may seem like a fast way to meet your urgent financial needs.
When you’re 62, Social Security may become claimed. If you can wait long, it will be to your advantage. If you apply for benefits at age 62, you may receive payments for longer than you would if you did not at age 67. You will receive benefits for a longer period of time, but you will receive significantly less money than is offered each quarter.

Source credit