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%.

Starting to collect Social Security benefits ensures a steady income, but staying informed about changing requirements is crucial.

The first round is scheduled for Tuesday, April 1, and will go to recipients of Supplemental Security Income, or SSI.