Just from a financial standpoint, would taking social security at 62 and investing it and not touching it yield around $1 million in additional lifetime assets compared to 67 or 70? This seems to good to be true. Assumptions are that it is not needed and could be squirreled away indefinitely. Starting with the maximum monthly at 62 of $2572 compared to $3627 at 67 or $4555 at 70 and the social security payout increasing by 3% each year and investment gains of 9%. This does not include tax on dividends which would be paid separately. First 3 columns are the social security income streams and the last 3 are the balances of the cumulative holdings, shown from 62 to 90 years of age, shown in thousands. Taking at 62 would also lower the taxable income, which would be helpful when RMDs kick in and with IRMAA, and the unrealized capital gains would benefit from stepped up basis at death. Leaving aside the exact precision of this exercise, does this seem directional sound:
31 - - - - -
32 - - 65 - -
33 - - 104 - -
34 - - 147 - -
35 - - 195 - -
36 44 - 248 - -
37 45 - 308 92 -
38 46 - 373 147 -
39 48 55 446 208 -
40 49 56 526 275 116
41 50 58 615 350 184
43 52 60 713 434 261
44 54 62 822 526 346
45 55 63 941 629 440
47 57 65 1,072 742 545
48 58 67 1,217 868 661
50 60 69 1,376 1,006 790
51 62 71 1,551 1,159 932
53 64 73 1,743 1,327 1,090
54 66 76 1,954 1,512 1,263
56 68 78 2,185 1,716 1,455
57 70 80 2,440 1,940 1,666
59 72 83 2,718 2,187 1,899
61 74 85 3,024 2,458 2,155
63 76 88 3,359 2,755 2,437
65 79 90 3,726 3,082 2,746
67 81 93 4,127 3,440 3,087
69 83 96 4,567 3,833 3,460
71 86 99 5,049 4,264 3,870
31 - - - - -
32 - - 65 - -
33 - - 104 - -
34 - - 147 - -
35 - - 195 - -
36 44 - 248 - -
37 45 - 308 92 -
38 46 - 373 147 -
39 48 55 446 208 -
40 49 56 526 275 116
41 50 58 615 350 184
43 52 60 713 434 261
44 54 62 822 526 346
45 55 63 941 629 440
47 57 65 1,072 742 545
48 58 67 1,217 868 661
50 60 69 1,376 1,006 790
51 62 71 1,551 1,159 932
53 64 73 1,743 1,327 1,090
54 66 76 1,954 1,512 1,263
56 68 78 2,185 1,716 1,455
57 70 80 2,440 1,940 1,666
59 72 83 2,718 2,187 1,899
61 74 85 3,024 2,458 2,155
63 76 88 3,359 2,755 2,437
65 79 90 3,726 3,082 2,746
67 81 93 4,127 3,440 3,087
69 83 96 4,567 3,833 3,460
71 86 99 5,049 4,264 3,870