Key Points While every year you wait to claim Social Security after 62 will increase your checks, waiting may not be the right decision for millions of Americans. Having more than one source of income can make early retirement easier.

Social Security benefits play a crucial role as steady income during retirement. For some people, they can be a lifeline. For others, they add a financial cushion.

The question of retirement age is crucial for millions of Americans planning their retirement. Contrary to the expectation of an imminent new increase beyond the current, the full retirement age of Social Security has been in a gradual process of increase,