You are almost 62 years old and are thinking about collecting Social Security benefits. Check the rules for collecting Social Security benefits but at age 62 you are currently entitled to 70% of the benefit if you wait until normal retirement age 67(100%). You contact Social Security and your benefit at age 62 will be $14,000 per year but it you wait until age 67 it will be $20,000 per year. Every year you wait after age 67 will allow your benefit to increase 8%. Please keep in mind of the 0.5% reduction for retiring at 62