You have plenty of options when it comes to signing up for Social Security. The earliest age to take benefits is age 62. And you're entitled to your complete monthly benefit based on your personal wage history once full retirement age (FRA) arrives. FRA is either 66, 67, or somewhere in between, depending on your year of birth.

For each month you claim Social Security ahead of FRA, your monthly benefit gets reduced. And the maximum reduction you're generally looking at is 30%, which would be the case if you were to file at age 62 with an FRA of 67.

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Source Fool.com