Make sure to archive your information first:

Your Facebook archives contain just about all of the pertinent information related to your account, including your photos, active sessions, chat history, IP addresses, facial recognition data, and which ads you clicked, just to name a few. That’s a ton of personal information that you should probably maintain access to. To download your archive, go to “Settings” and click “Download a copy of your Facebook data” at the bottom of General Account Settings, and then click “Start My Archive.”

I’ll have a follow on post with more of my thoughts on Facebook, as well as how I plan on limiting – and then deleting my account.