re: #150 sagehen

How’s your health?

If you wait for full retirement, you get more per month than if you start at 62. If you expect to live past 70, it’s worth waiting.

The break even calculation, the amount of SS income I would get between 62 and 66 4 months, it would take until I was 82 to “get that back” from the higher monthly benefit I would get at 66 4 months. So for me, it was how long after 82 would I live. And would a few hundred extra per month after 83 really change my life at that point. Experts agree that there is no real “formula”, the decision depends on so many factors other than just how long you think you will live. I recommend spending time on line reading articles from sources like Kiplinger, Vanguard to gain an understanding of the various components. I chose to take SS at 62 because I would prefer to retain my IRA accounts and no longer work. If I liked my job and had little IRA money, my calculus might be different.