When I filed, I did an actuarial analysis that showed that starting at 67 or 70 was “actuarially neutral”, using Social Security’s actuarial tables, and assuming 6% ROI and 2% inflation. I decided to stash the money in my 401k tax free by making catch-up payments while working.
Future Social Security payments are subject to the whims of a future congress, which may have more Adam Schiffs and Chuck Schumers than Tom Cottons and Mike Johnsons. Taking the money up front subjects me to market forces, but shelters me somewhat from political whims. Thanks to DJT, my calculation has paid off handsomely so far.
If the future presidents and congresses come out of the Kamala Harris and Hillary Clinton mold, God help us, regardless of what decision you make.
My wife and I took early retirement and went on a full time RV excursion for four years. With no house payments our 401 soared during this time ( not planned but very beneficial). I then was asked to come back to work— who knows about things like this?
I did not stop SS payments so had to repay the SS system but the net result was my benefits increased— again I did not know this could happen, but I liked it.
At age 67 I was able to work and also take SS and benefits continued to increase. The message is that a lot of options exist in the system. And of course, we don’t know how our health will go. I had undiagnosed sleep apnea and went down hill pretty fast until it was found. Now I have a lot of equipment for nighttime and am still collecting SS at 80.