re: #148 Dangerman
This!
And if you wait, it takes *a lot* of years for the increase in benefits to pay back the “lost” untaken early benefits
Ie 10+ or more just to break even.
Assuming no other tax consequences, take the early cash
I think it depends on what you need monthly. If you want payback of what you’ve put in, take it early. If you need more money monthly for the rest of your life, I’d hold off. I’m not planning on taking SocSec until the latest possible moment. I’m making good money and for the first time in my life bonuses (like real $$, 5 figure bonuses), so I’m wanting to maximize SocSec for the remainder of my years once I do retire.