They didn’t figure for the break-even point; if Soc sec is taken at full retirement age, it takes a good number of years to recoup the money that would have been earned had the recipient taken soc sec at 62.
I did that calculation once.
I included the income that could be earned on money received starting at 62 at a modest 2.5%.
My break even age was 78 and some months.
A bird in hand, etc. Start taking benefits ASAP.
Yes, I agree. I don’t think they want for us to think in terms of “break even”. My thinking is that, since SS stops cold when you die, it is beneficial to start taking benefits as early as is comfortable (based on one’s overall plans and other sources of retirement income). My theory is that I might as well use the SS money to live on, and preserve my savings and other assets to pass along to the kids. I think 65 is a good age, since most of us are stuck without health insurance until we can get Medicare, if quitting work before age 65.
I started collecting at 62,my break even point was age 75——and here I am,at 86. (sigh)
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