The 1 Number You Must Look at Before Signing Up for Social Security
Starting Social Security is a big deal. And you get choices as to when to do it.
The earliest age you can sign up for Social Security is 62, but you're not entitled to your full monthly benefit based on your earnings history until full retirement age (FRA). FRA is 67 for anyone born in 1960 or later. And if you file for Social Security before FRA, you'll reduce your monthly benefit for life.
You can also opt to delay your Social Security filing past FRA. For each year you do, up until age 70, your monthly benefit will grow 8%. And that boost will be yours to enjoy for life, too.
Source Fool.com