I waited until my full retirement age, 66 and 2 months, due to the fact I am still working and have a "decent" salary. Got my first return of my money from the government 2 weeks ago.
If I waited until 70 I would get another $800 per month. It would take me until age 82 to recoup the money I would forego if waiting until 70 to draw. I was not willing to make the bet that either the money or I would be here by then.

quote:

Originally posted by BOATTRASH1:
I waited until my full retirement age, 66 and 2 months, due to the fact I am still working and have a "decent" salary. Got my first return of my money from the government 2 weeks ago.
If I waited until 70 I would get another $800 per month. It would take me until age 82 to recoup the money I would forego if waiting until 70 to draw. I was not willing to make the bet that either the money or I would be here by then.

This is exactly me right now, and I just had this conversation with my financial advisor last week. 66 and 2 months for me is February 2022. My decision was to defer to 70. I plan on working at least that long, my wife who does not work and is under my employment health plan will not turn 65 and be eligible for Medicare until then, and I earn decent money so I do not need the extra income now. I prefer to get the extra thousand a month when I am no longer drawing a salary. I also plan on living beyond my breakeven age of 82, although we all know we never know. If I don't, making the wrong bet on social security will not be on the short list of things i care about.