There's a reason so many seniors are tempted to sign up for Social Security at age 62: That's the earliest age at which you're allowed to take benefits.

But to be clear, if you file for Social Security at age 62, you won't get the full monthly benefit you're entitled to based on your earnings history. Rather, to get that full benefit, you'll need to wait until full retirement age (FRA), which won't kick in until 67 if you were born in 1960 or later. And if you want a monthly benefit that's even higher than that, you can delay your Social Security filing past FRA and snag a boost up until you turn 70.

You might be inclined to file for Social Security at 62 to start receiving your money as quickly as possible. Getting benefits early might enable you to begin retirement at a younger age and achieve some of your life goals at a time when you might have good health and plenty of energy.

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But claiming Social Security at 62 is a move you could wind up regretting big time. Here's why.

Your savings might not last as long as expected

Ideally, Social Security won't be your only income source in retirement. Rather, you'll hopefully retire with a pretty nice nest egg.

But just because you start off with a lot of money in retirement savings doesn't mean it is guaranteed to last. You might have to tap your nest egg more than expected to do things like pay for healthcare and home repairs. And the stock market might have a string of bad years during your retirement, causing the value of your nest egg to drop and leaving you with less money to withdraw.

It's for this reason that claiming Social Security at 62 might not be the most prudent choice. If you slash your monthly benefit by filing early, you'll generally be stuck with that lower benefit for life. And that could be problematic if your nest egg starts to run out on you sooner than anticipated.

On the other hand, let's say you wait until FRA to claim Social Security, thereby avoiding a $500 monthly reduction in your benefits. Even if your savings dwindle sooner, you'll have an extra $6,000 a year from Social Security to come to your rescue.

Think carefully before filing early

When you have the potential to start collecting many thousands of dollars a year in Social Security, it can be hard to push yourself to wait beyond age 62. But if you claim your benefits that early and reduce them in the process, you might wind up strapped for cash later in retirement -- and at a point when you're not physically able to hold down a job to boost your income as needed.

That's why it pays to consider a later filing age than 62. You don't necessarily have to force yourself to wait until FRA. Even if you file at age 64 or 65 versus 62, your benefits will take less of a hit. And that might be a reasonable middle-ground solution.