Choosing when to retire and start drawing Social Security benefits is an important decision and one that is unique to each individual. According to the Kentucky Society of CPAs, a person can begin taking payments as early as age 62, based on Social Security regulations, but when you retire will have an effect on the amount of the payment you receive.
How payments are calculated
Your Social Security benefit payments are based on your work history. In short, the more money you have earned over your career, the higher your benefits will be.