Did you know Social Security has designated a specific age for when you are able to receive your standard benefit amount? This specific age is called your full retirement age (FRA). Depending on when you were born, FRA is between age 66 and 2 months and 67.
Unfortunately, if you don’t know what your FRA is, you could end up losing money you would otherwise be able to rely on as a retiree. Here are two possible ways this could happen.
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