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Reminiscent of yesterday's post about optimizing SS benefits (what age to start claiming). Some of us on FR argue that it's best to financially plan like SS doesn't exist (retire using your own budgeting, saving, and investing).

The flip side is those who hate their jobs work longer and those who sacrifice to save miss out on living today.

And when SS is available claim it as early as you can so you can invest it (or reduce how much of your investments you live on so it can stay invested and grow enough to fight inflation).

Not one size fits all. My wife is 8 years younger and on average women live 3 years longer. I delayed SS for two reasons, to give her the highest benefit possible and give me peace of mind to maintain a higher investment in stocks to reduce the sequence of returns risk. Its a comfort knowing that our combined SS covers about 98% of our essential expenses and that I can maintain an aggressive stock allocation with my downside risk is less meals out, cut back on Xmas gifts and skip some nicer things on vacations. Also, at the time I delayed fixed income was often negative after inflation, while SS increases by inflation. It is the best annuity money can buy.

It would be easier to know when to start drawing your SS benefits IF:

-- you know how long you are going to live, and
-- you can rest assured SS benefits won't be cut while you are still drawing.

I started drawing at 62 because I wanted to get as much out of the system as fast as possible because of the unknowns listed above.

You and I think a lot alike.

I delayed SS for two reasons, to give her the highest benefit possible and give me peace of mind to maintain a higher investment in stocks to reduce the sequence of returns risk.

I guess I should have clarified what I meant in the debate of claiming SS early vs later. Your statement associates claiming later with working longer (at least I'm assuming from keeping a higher investment in stocks). Obviously the decision to keep working and investing more of your income wins the argument of early vs later SS.

What I meant by claiming later was if you weren't working but had enough in investments to live on until you claimed SS. In other words, with no change in income (leave work at the same age, but deciding whether to start collecting SS early vs later).

For example, my wife and I retiring in our mid and late 50's (living on investments before we can begin SS) and deciding if we're going to begin collecting SS early at 62 even though we don't have to (we could keep living on investments).

FWIW, for the family members who are retired I have their investments in 75% growth and 25% bond/treasury/money market mutual funds. So even in retirement we're heavy in growth to fight inflation. I basically trust diversification (the 75% growth is spread out across 3 dozen mutual funds of mostly distinct asset classes) to handle market downturns so we that can have enough growth to fight inflation. The 25% in bonds are spread out across a dozen mutual funds. So when it's time for the monthly "paycheck" (or quarterly, etc.) I log into the investment account and do a withdrawal from which ever mutual fund(s) have the highest balance (sell high). It's always a 4% annual withdrawal strategy (so if it's quarterly withdrawals it's 1% of the overall portfolio balance, if it's monthly it's 1/3rd of 1%).