Hopefully, Social Security will be one of several income sources available to you in retirement. You may, for example, have some pension income coming your way, or withdrawals from an IRA or 401(k) you worked hard to save in. You may also be interested in working part-time as a retiree to not only earn money, but stay busy and alleviate boredom.

But regardless of whether Social Security constitutes 30%, 50%, or 80% of your retirement income, it's important to sign up for benefits at the right time. That's because your filing age will determine how much monthly income the program pays you for the rest of your life.

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Source Fool.com