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hey everyone claiming Social Security at 62 has been the most popular age to file for a long time but things are starting to change in fact they've already been changing over the past several years and now the data is becoming more clear that fewer people are filing at 62. in today's video I'm going to tell you three reasons why we're seeing these changes and share some thoughts with you that may help you make a more informed decision about when to file so before we jump into this into the why we're seeing these changes let's talk about the history of filing for Social Security at 62. this helps us to understand the numbers we'll see in just a moment so for the first few Decades of the Social Security program benefits weren't even available until age 65 so filing at 62 wasn't an option this changed though with the Social Security Amendments of 1956 but get this it was only for women men were still restricted at age 65 as the earliest filing gauge but then in 1961 they changed that with the Amendments too the rationale that lawmakers used when making this change was to offer protection to older workers who had lost their jobs in a series of recessions in that past decade in a summary of the 1961 legislation the commissioner of Social Security said the older American who cannot get a job continues to exist in good times as well as bad and the Social Security program should be flexible enough to take account of this problem they should have a degree of protection if they find themselves unable to get work because of conditions beyond their control when they are nearing retirement age even though they have not yet reached age 65. now since those two amendments were passed you can see how the number of people filing at 62 has increased drastically by 1985 more than 50 percent of all benefits were claimed at the earliest age possible 62. and this percentage stayed in that range until about 2001 and then we started seeing this drop and in 2021 this was right at the 25 percent Mark so why are we seeing this massive drop in the number of people who are claiming benefits at 62. well I think there are three reasons first is the response to full retirement age changes a big part of the 1983 Social Security amendments was the gradual phase-in of the increase to the full retirement age this certainly matters because the reductions for filing early are calculated on a monthly basis so with 62 being the earliest date of Eligibility which hasn't changed the number of months between age 62 and full retirement age started growing and as that Gap started growing so did the percentage reduction for filing early for example if you're for retirement age was 65 the reduction for filing early at 62. was about 20 percent but if your...