People without savings take SS at 62, compounding their problem for the rest of their lives.
One of the best kept secrets of Social Security is that well to do folks have a large advantage over poorer folks in several ways:
—Well to do people generally live longer than poor people
—Well to do people have a job history that guarantees their benefit will be substantially higher than poor people
—Well to do people can afford to wait until 70 while poor people cannot
These factors have a multiplier effect on each other.