Claiming Social Security Before Full Retirement Age? Answer These Questions First
One great thing about Social Security is that you get choices when it comes to claiming benefits. You're entitled to your full monthly benefit, based on your earnings history, once you reach full retirement age, or FRA. That age is either 66, 67, or somewhere in the middle, depending on your year of birth.
You're allowed to sign up for Social Security before FRA -- as early as age 62, in fact. But doing so will result in a lower monthly benefit for life. You can also delay your filing past FRA and boost your benefits in the process.
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Source Fool.com