A lot of baby-boomers are grabbing their Social Security checks early. Consumer Reports says half of eligible Americans are choosing to draw Social Security at 62, the earliest age you can draw a benefit.
CR says...resist that temptation.
The consumer advocacy magazine calculated some average Social Security benefits by eligible age:
62 = $1,610 a month
66 = $2,190 a month
70 = $2,945 a month
CR's numbers indicate it pays to be patient on drawing your Social Security. If you have a solid private savings plan, it makes even more sense to hold off on an early draw.