The ability to choose when to begin receiving benefits from Social Security is a cool feature. You can enroll in Social Security as soon as age 62, although at a lower rate if you desire to retire earlier.
You can wait to apply for Social Security till you reach full retirement age (FRA), at which point, according to your individual earnings history, you’ll be eligible for the entire monthly payment. Based on the year you were born, FRA is either 66, 67, or anywhere in between.
You can postpone filing for Social Security benefits until you are 70 years old, though. You possibly might want to file after that, but there is no financial advantage to doing so. However, until you reach age 70, your monthly payments increase by 8% for every year you postpone filing your claim beyond the FRA.