The Best Reason to Take Social Security Long Before Age 70
One of the greatest things about Social Security is that you're not tied down to one specific filing age. Rather, you get a range of choices when it comes to signing up for benefits.
The earliest age you can claim Social Security is age 62. But you should know that you're not entitled to your full monthly benefit based on your earnings history until you reach full retirement age (FRA), which kicks in at 66, 67, or somewhere in the middle, depending on your year of birth.
You also have the option to delay your Social Security filing past FRA and snag a higher monthly benefit for life. For each year you hold off, up until age 70, your benefits get an 8% boost.
Source Fool.com
