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Hugh R Hugh R is offline
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Join Date: May 2003
Location: southern California
Posts: 26,179
Think of it this way, you draw at 65 and you get say $2,500/mo. That's $30,000 you actually got that year. If you draw at 66 you would be getting $30,000+ 8% or a total of $32,400, but if you divide the $30,000/2,400 (the increase for waiting until 66) you see it would take about 7 years to make up the difference of what you get for retiring at 65 vs 66. Carry that out to age 70 and it gets worse.

Think about it in more simple terms. If you collect at 65 you'd have gotten $60,000 from SS when you hit 67 ($30K + $30K), but if you start at 66 by the time you hit 67 you'd have only received $32,500.
Another factor, once you are drawing, its more difficult for them to change the rules on you, than when you haven't enrolled, think things like "means testing" and looking at your other retirement investments as a "balance" or what is "fair".

Last edited by Hugh R; 08-01-2018 at 07:41 AM..
Old 07-23-2018, 08:24 AM
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