Final answer:
The correct answer is Social Security Retirement Benefits are available as early as age 62, but the benefits will be reduced compared to waiting for full retirement age.
Step-by-step explanation:
Social Security Retirement Benefits are available as early as age 62, but they are less than if they were paid at the full retirement age. While full retirement age was originally set at 65, legislative changes have increased it to 67 for workers born after 1959.
The early eligibility for such benefits at a reduced rate provides a crucial safety net for those who may need to retire before reaching full retirement age, but it is important for individuals to understand that the earlier they begin to collect benefits, the smaller those benefits will be compared to waiting for full retirement age.