Random question

[tvguy]

If you look at the link, you will see that even waiting a half year will get you more of your total benefits. I will think about it some more.

Lets say a person qualifies for $1000.00 a month IF he retires at 66.



And he gets 800 a month ( 80%) if he retires at 63

So you choose age 63 that means you get 50 dollars a month for the rest of your life, whatever that is.
But if you choose 62 you get paid 750 a month for that first year 12X750= $9000.00

So if you choose 63 you have to wait 180 months or 15 years before you start getting any more money out of SS.

I have no clue if this is accurate

Here is one example that is.....


Say you want to retire at 62 and would draw a Social Security benefit of $1,125 a month. That's 25 percent less than the $1,500 you would collect if you waited until age 66.

By age 77 and 11 months (let's call it 78) you'd have collected roughly $216,000 in total benefits, whether you opted for early benefits ($1,125 x 192 months from ages 62 until 78) or full retirement age benefits ($1,500 x 144 months from ages 66 until 78). (Here's the Social Security Administration's break-even calculator, which can do the math for you up to this point.)

But your break-even age is actually later when you factor in the investment value of your early benefits. Even if you don't invest those early benefits directly, taking them might mean you can leave other savings to keep growing.
That's EXACTLY what I'm doing Cletus. I'm leaving another pension alone. We have rolled it over to Edward Jones to let them invest it.

That could add three to five years to your break-even point, Gebhardtsbauer estimated.

So in the example above, if you think you'll live past 81, it may pay to wait until full retirement age to start collecting.