I asked my in good health 87-year old parents about it. My dad said to wait as long as I can. I then asked “What if I die early?” He said “You won’t know it.” LOL.
From memory... I don’t think that matters. Each year of delay increases the SS payout about 8%. So from 70-81ish you’ve doubled your payout versus starting at 62. 3% over 10 years is only 1.35x. I tried multiple scenarios for drawing early and investing at varying interest rates and various inflation rates. They all came out with a BE of 81/82.“
I think the issue is taking SS early and breaking even at 80ish compared to waiting for a larger amount.
Yes, you will receive more later.
But you also give up any growth in investing the $ during the intervening 18ish years.
If you make more than 3% on that investment, you are equal or better than if you had waited for more later.
If you invest at 6-10% return, you are clearly better off.
1. This assumes you will not live on those payments
2. You will be able to pass along that $ to your heirs
Everyone’s situation and makeup is different and you really need to look at this in a good SS calculator.