Many people opt to file for Social Security at age 62 because it's the earliest age at which to sign up. But if you don't wait until full retirement age (FRA) to claim benefits, yours will be reduced on a permanent basis. FRA is either 66, 67, or somewhere in between, depending on your year of birth.

There's also the option to delay your Social Security filing past FRA. For each year you do, up until age 70, your benefits will get an 8% boost that remains in effect for the rest of your life.

It's easy to see why the idea of a higher monthly benefit might appeal to you, so you may be inclined to delay your filing until the age of 70. But if the following signs apply to you, you may want to reconsider and instead claim Social Security at an earlier age.

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Source Fool.com