T he Social Security Administration has announced significant changes to the retirement age, which will take effect starting in 2026. The full retirement age, which has been gradu

The number of retirees claiming Social Security at age 62 declined between 2019 and 2023 among men and women, according to data from the Center for Retirement Research at Boston College. For men, the percentage declined from 31% in 2019 to 26% 2023. That compares to 27% of women claiming at 62 in 2023, down from 34% in 2019.

If you take Social Security at age 62, you’ll need to consider how to pay for health care until you can sign up for Medicare at age 65. The need to purchase a private plan can add significant costs to your budget in those early retirement years and could eat up a chunk of your Social Security check each month.