How Much Will My Social Security Be Reduced If I Claim Early?

Americans who qualify can claim their Social Security retirement benefit as early as age 62, but it's important to know the financial implications of doing so. Claiming Social Security early will result in a permanently reduced monthly benefit, so here's a quick guide to help you know how early Social Security could impact you.

You're considered to have claimed Social Security early if you apply for your retirement benefit to start before reaching your full retirement age. This can be as early as age 66 or as late as age 67, depending on the year in which you were born:

If You Were Born In...

Source: Fool.com