Just be sure you budget for a reduced benefit.
If your full retirement age is 67 and you begin collecting Social Security at age 62, for example, your benefits are reduced by about 30 percent.
The reduction drops to 25 percent if you wait until you're 63, and so on.
The Social Security Administration provides a chart of retirement benefits by birth year.
Married women are also good candidates for claiming early benefits, according to a 2005 study by economists at the Center for Retirement Research at Boston College.
That's because they are likely to outlive their husbands, and such women then become eligible to receive the greater of either their benefit or their late husband's benefit.
However, this scenario is only valid if the husband does not claim his benefits early, the authors point out. By not claiming early benefits, the husband effectively increases the monthly benefit his wife eventually receives upon his death.
What's your break-even?
To better determine when you should start drawing Social Security, it may help to calculate your break-even age.
Your break-even age occurs when the total value of higher benefits (from postponing retirement) starts to exceed the total value of lower benefits (from choosing early retirement.)
Here's an example: If you are eligible to collect a reduced $900 benefit at age 62 plus 1 month, and your benefit would increase to $1,251 at age 65 and 10 months, your estimated break-even age is 75 years and 5 months.
If you expect to live beyond that age, it would be financially worth your while to delay your retirement.
The Social Security Administration provides a calculator to help retirees determine their break-even age on its Web site.
When it comes to calculating a start date for Social Security benefits, however, there's no one right age that's appropriate for everyone.
Consider your own financial need, health and post-retirement plans before making the call.