At what age does an individual become eligible to receive reduced Social Security benefits?

An individual becomes eligible to receive reduced Social Security benefits starting at age 62. This early eligibility allows individuals to claim benefits before reaching their full retirement age, which is defined based on the year of birth and is typically between 66 and 67 years old for most people. It is important to note that while an individual can begin receiving benefits at this age, the monthly benefit amount will be reduced compared to what they would receive if they waited until reaching their full retirement age. This reduction continues indefinitely, and thus those opting for early benefits need to carefully consider their long-term financial needs and health circumstances when making this decision. The other age options provided do not align with the established guidelines for early Social Security benefit eligibility.