However, you should know that for each month you claim Social Security before reaching full retirement age, your benefits are reduced permanently. And if your full retirement age is 67, which is the case if you were born in 1960 or later, then claiming Social Security at 62 means slashing your monthly checks by roughly 30%.

To qualify for Social Security retirement benefits, individuals must meet age and work credit requirements. Early claims reduce benefits, while delays increase them.

As a new month begins, fresh faces join the ranks of Social Security beneficiaries in the United States. These individuals will start receiving a monthly retirement check, providing a financial cushion.