The amount of money you collect each month from Social Security is based on your personal earnings history. But you filing age also plays a role in determining what your monthly benefit looks like.

You can sign up for Social Security as early as age 62. But to collect your complete monthly benefit based on your income history, you need to wait until full retirement age (FRA) to sign up. That age is 67 if you were born in 1960 or later.

You can also delay your Social Security filing past FRA. For each year you do, up until age 70, your monthly benefit gets to grow 8%.

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Source Fool.com