For someone age 60 or so trying to decide when to start SS, I might do the following:
1) are you reasonably confident you'll be in good health a decade from now?
If not, claim SS at 62.
2) add up your monthly retirement income sources for the first few years, including a "bridge amount" of $2000 to $3000 per month in lieu of SS.
Then ask some questions:
A) by how much does this monthly retirement income EXCEED your expected expenses?
B) what is your expected annual portfolio drawdown rate over the eight years prior to age 70 SS, compared to the 4% SWR benchmark?
C) what will your three portfolio segments (tax-deferred, Roth, taxable) look like after eight years of drawdowns and delaying SS?
Answers to these questions may help you decide if you can POSSIBLY AFFORD to delay claiming SS.
Even then, you can do a wait and see approach after age 62, depending on how well the markets and your portfolio are doing.
You can claim SS in any month after age 62, depending on what happens...
Using FireCalc and my annual WR, I have zero failures and worst case out come is $4M at the 30 year mark. This is without adding SS, my HSA, some real estate and other misc. assets. So, I really have nothing to be concerned about, as someone else said, I'm just planning to maximize the kids inheritance.