You have plenty of choices when it comes to deciding when to claim Social Security. And some people will tell you that signing up at age 62 is the worst decision you could possibly make for your retirement.

Why? Filing for Social Security at 62 means accepting a reduced monthly benefit for life. That's because you're not entitled to your complete monthly benefit, based on your individual income history, until full retirement age (FRA) arrives. That age is 66, 67, or somewhere in the middle, depending on your year of birth.

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Source Fool.com