Now, you can start collecting Social Security as early as age 62 or as late as age 70. But if you start early, your benefit will be permanently reduced by as much as 30%, depending on how soon you file for benefits. On the other hand, if you wait until after full retirement age, you can get as much as 24% more if you wait until 70.

Social Security claims rose due to fearmongering, budget cuts and administrative turmoil. Early claims lead to lower payments. Trump's immigration policies could worsen funding gap.