Be Prepared to Claim Social Security Early -- Even If You Don't Want To
You can sign up to start collecting Social Security once you turn 62. But if you don't want to see your monthly benefits reduced, you'll need to hold off on claiming them until full retirement age (FRA).
FRA hinges on your year of birth. It's either 66, 67, or somewhere in between. And for each month you take benefits ahead of FRA, they're reduced on a permanent basis.
You may have every intention of waiting until FRA to claim Social Security. But don't assume that's an option you'll be able to exercise.
Source Fool.com