I’m going to start taking my Social Sec. later this year, a few months after I turn 62. Why? A. Who knows if this manner of individual payout will remain in force for the next few decades? I have heard of pension plans for huge industries such as General Motors. being ‘adjusted’ in spite of what was promised. Sometimes, the pension simply becomes too expensive to maintain. Retirees in Michigan were furious, but there was exactly nothing that could be done about it. The monies really were needed elsewhere. Apparently, it was also legal. I know Social Security is not the same thing as a pension, per se. But it’s similar enough.
B. Due to certain health conditions, I don’t know if I’ll even be around in ten years, let alone able to get out and job hunt. I guess none of us really knows. I don’t have a great amount saved up for retirement. Therefore, I have an attitude of making my present life as comfortable as I can, without going Hog-wild, economically speaking.
Take it at 62 and invest all of it.