Except in your example you under estimate the 5 year increase. It’s basically an 8% increase in benefit each year from 62-70,so if it’s 2000 at 62 then it’s about 2800 at 67.Lots if wrong info in this thread. If you have questions call the SSA, or go to their website SSA.gov and see your own benefit info. To calculate payback time on delayed benefit add up the early payment amount and divide it by the increase you would get That’s the number of months it would take to break even.
“To calculate payback time on delayed benefit add up the early payment amount and divide it by the increase you would get That’s the number of months it would take to break even.”
Yes, and using your numbers the payout is about even at 80 years old.