Originally Posted by Debinnov a
It seems pretty obvious that you are better off holding off until Age 70 to take social security, as long as you can fund your retirement until then.
I think that delaying SS until 70 is an excellent low risk strategy for having COLA'd income for as long as you live (longevity insurance).
But, it isn't guaranteed that delaying until 70 would make you "better off." That would depend on your personal situation regarding dependents and taxes, investment outcomes from investing early SS, how long you live, inflation, sequence of events and a long list of other variables.
I'm not saying delaying until 70 isn't a good strategy with longevity insurance as the targeted outcome. It is a good strategy. But it's not guaranteed to be the "better off" strategy depending on how things work out in your life.
I'm married to a gal who gets no SS and can't collect a spousal benefit from mine due to GPO, so in the interest of protecting her, I started my SS at 62. I've been trying to keep a few rough records so I can estimate how this works out vs delaying. That is, how much bigger is my FIRE portfolio at 70, with the eight yrs of invested SS income, vs the larger SS income I would have received had I delayed SS until 70.