The Social Security Administration sets the early retirement age â the youngest age that you can start collecting Social Security â at 62 years old. However, if you take benefits before your full retirement age â which ranges from 65 years old to 67 years old depending on the year you were born â your monthly benefit will be reduced.
FRAMING EFFECTS A âframing effectâ is usually said to occur when equivalent descriptions of a decision problem lead to systematically different decisions.
Framing has been a major topic of research in the psychology of judgment and decision making and is widely viewed as carrying significant implications for the âRationality Debateâ (e.g., Shafir and LeBoeuf 2002).