When it comes to signing up for Social Security, seniors get options. You could file as early as age 62, but doing so will result in a reduced monthly benefit for life. If you want your full monthly benefit based on your personal wage history, you'll need to wait until full retirement age (FRA) arrives. That age is 67 if you were born in 1960 or later.

There's also the option to delay your Social Security claim past FRA. For each year you do, your benefits get an 8% boost.

Image source: Getty Images.

Continue reading

Source Fool.com