By Doug Carey
Under today’s rules a person can begin taking social security benefits as early as age 62. The full retirement age (FRA) used to calculate social security benefits ranges from 65 to 67, depending on when you were born. But one can also wait as long as age 70 before taking benefits, and the annual benefit increases the longer you wait. So an important question arises: How does a person decide when to begin taking his or her benefits?