When to take Social Security

I’m not going to tell you because I don’t know. Every situation is different, but I can tell you this is not how to make your decision.

The accumulated benefit has nothing to do with your ability to live comfortably in retirement. It’s quite irrelevant.

Which do you care most about, that the total you collected over fifteen years was more or less than it could have been or if you are better able to pay your bills as you age in retirement?

If you take it early at 62 and your monthly check is $1,650 and live past 77 yrs old you probably picked the wrong one. If you die before 77 then you cumulative benefits would have been around $316K and that would’ve been the right one. You would have received the MOST totaled up from age 62 to your demise at 77. Living past 77, your totals would be higher if you had waited.



  1. My wife and I started SS in 2018 at age 62. My wife only qualifies for a spousal benefit. The extra income from age 62 to 66 and 4 months = $66,976 and has allowed us to get out of debt and travel to visit family, while we are still young. In January of 2020 my wife’s benefit will be invested for whoever out lives the other. The larger SS benefit at FRA only adds $46,000 to age 85. Also, the $100,000 life insurance policy on me, will provide way more than the increased SS check, if I die before age 80, when the police ends. Almost every older family member that has lived into their 80s+ has ended up in a facility, that got the bigger SS check anyway. Since I have a military pension taking SS early was not a hard decision to make, I will admit if I only had SS, I would’ve waited until FRA and not retired at age 50.


  2. Finally an author who does not scream “WAIT” to take your benefits. Others always advise waiting to take benefits, but rarely mention the accumulated revenue and “crossover point”. Take it early and spend it on your lifestyle while you’re able!


    1. I agree. Actuaries know when you are going to die and the insurance industry has been making money for centuries on that knowledge. Social Security also knows when you are most likely to die. In my family, the males die right around age 78 to 80. Imagine that. I will not be collecting at age 62 because I do not need the money and I will hold off a little to use as an inflation adjustment to my pension. But I do not see any reason to wait until age 70 for a bigger payout. Why? Because I don’t need the money. Unlike healthcare, dying is a human right endowed by God himself. Although the government sometimes does likes to speed that up a bit with an occasional war.


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