I agree 100%. There are two really good reasons to take SSI at age 62: (1) You need the money right away; or (2) you don’t. We fall into the second category. Based upon my most recent projected SSI payout ( I am 61), I will have to live to 76 to break even — that being the age when the total SSI benefits that I receive from age 66 to 76 will surpass the total benefits that will receive from age 62 to 76. This assumes, however, that I spend the SSI as received, rather than investing the SSI through dollar cost averaging each month. Even if I invest the money in low risk bonds and securities with a return of 3% to 4% per year, the break even point is pushed out to my mid 80s, and unlike SSI, I can pass the money to my heirs when God calls me home.
I think it’s best to spread the investments out across 25 or 30 mutual funds with about 25 to 30% in safe funds like money markets, corporate bonds, and treasuries. Spread each of those across both short-term and long-term bonds/treasuries. The remaining 70 to 75% of investments goes to many growth funds in many sectors and different parts of the world (maybe 70% or so in the U.S.). The reason I like 70% in growth is because you need to be sure to outpace inflation in case you live many decades in retirement. The reason you diversify a lot is to almost always have some funds that are us even during severe market downturns. (I.e. my tech fund and health science fund and LT treasury fund did really well during the big stock downturn from mid Feb to late March.)