If you were born between January 2, 1943 and January 1, 1955, you can begin taking your social security as early as 62, but you will take a 25 percent reduction of what your full benefit would have been had you waited until your full retirement age. Remember, if you begin taking social security at 62, and you are still working, your social security benefit will be reduced by $1 for every $2 in earning once you have earned more than $14,160 in 2011. We have developed a new website where you can learn more about social security income planning at www.SocialSecurity-Planner.com.