You Can Undo Your Social Security Filing if You Claimed Benefits Too Early. Here's Why That May Not Be a Good Option for You
Social Security recipients get a choice as to when they can sign up. The earliest age to file for benefits is 62. But you're not eligible for your complete monthly benefit based on your personal wage history until you reach full retirement age. That age is 67 if you were born in 1960 or later. Otherwise, it's either 66, or 66 and a certain number of months.
You can also delay your Social Security filing past full retirement age for a larger monthly benefit. For each year you do, up until age 70, your benefit gets an 8% boost.
Image source: Getty Images.
Source Fool.com