This MarketWatch article makes a case for waiting until age 70 to begin collecting SS, when benefits reach their maximum.
Delaying Social Security benefits can be "very tax efficient for a lot of people, but it also helps protect against the post-retirement risks they face because Social Security has the annual inflation adjustment, it's going to be payable for life so there's no longevity risk, there's no investment risk, and there are no expenses,"...
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"If I were to delay my Social Security benefit, in essence I can more than double" the benefit, he said. "My spouse could start her benefit earlier. Then, if I predecease her, and that often happens, I will pass that higher benefit that I've earned on to her. [That's] a lot of survivor income protection."
When planning for retirement, don't focus solely on break-even points, Mahaney said. Those points "ignore the cost-of-living adjustments. They ignore the survivor protection."
http://tinyurl.com/9q4ll
For those of you planning to start collecting at 62, does this change your thinking?
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