One of the toughest decisions you might have to make in the context of retirement planning is figuring out when to claim Social Security. The earliest age to sign up for benefits is 62. And from there, you can really file at any time. However, there are some key milestones to know about.

First, you're eligible for your complete monthly benefit based on your personal income history at full retirement age. If you were born in 1960 or later, that age is 67, which means that filing at any age prior will result in a reduced benefit. And the closer to 62 you are, the more of a reduction you face.

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Source Fool.com