Originally Posted by 1vertical
So I have asked a hundred people, 50 said start Social Security, 50 said wait to start.
The more I think about this the less convinced I am that it makes a big difference. If I take the monthly benefit early I will be drawing down my savings less and leaving them invested where hopefully they will earn at least 7%.
I guess you could consider the 8% a year on the SS benefit as guaranteed. However we all know that the SS Trust fund is going bust and the politicians have so far not lifted a finger to address the issue because they cannot get along or cooperate on anything (both sides Ds and Rs at fault here).
So I am beginning to believe that it does not make all that much difference when you decide to take the benefit. In my case I think that my wife might take it when she is 64ish and I might take it when I am 66ish. However, if the market crashes we will likely take it sooner than that to avoid withdrawing equities when the market is down.