You're entitled to your full monthly Social Security benefit based on your earnings history once you reach full retirement age (FRA). That age is 67 if you were born in 1960 or later.

Now you don't have to claim benefits at FRA. You can sign up for Social Security as early as age 62. You can also delay your Social Security filing past FRA and boost your benefits in the process. (Specifically, your benefits get an 8% boost per year you hold off, up until you reach the age of 70.)

You'll often hear that delaying your filing is a financially sound choice, whereas claiming Social Security early is problematic -- namely, because it leaves you with a lower monthly benefit for life. But here are a few scenarios where a smaller benefit really isn't a bad thing.

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Source Fool.com