I don’t claim to have the answer about when to begin collecting Social Security. In fact, there is no one answer. Depending on the circumstances, a case can be made to begin at 62 or age 70 of any age in between.
The Motley Fool has a short summary of the issues to consider.
ONE THING I DO KNOW is that worrying about breaking even or maximizing your lifetime benefit collection should not be part of your decision making – both are irrelevant to you.
The key is starting benefits when you absolutely need the cash to live on … or maybe not.
My wife and I started our benefits while I was still working at my full retirement age for SS. We invested all the money in tax-free municipal bond funds for several years and since have reinvested the interest so when need more income we will have a tidy additional tax free cash flow. Not saying that is a strategy to follow for anyone else.
Check out The Motley Fool pros and cons of waiting to age 70.
QUINNSCOMMENTARY 
I agree with the idea of delaying SS until you “absolutely need the cash”. Each person can define that for themselves based on their circumstances, health, etc.
Delaying SS allows your benefit to grow, and become ‘longevity insurance’.
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It seems to me that the folks who could really use the higher benefits wind up claiming earlier out of need and the opposite end doesn’t care when it starts because they have a lack of need. I had a brother in law who told me once that “they can keep the social security but just let me keep the Medicare…”. He of course didn’t need the monthly check but appreciated the benefits of Medicare.
Everyone in between can try to maximize but you can’t know all the variables until the end of the play.
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