Delaying social security — or not

by Kharlampii

I performed an analysis to see if social security payments for old age should be delayed, or claimed earlier.

For members of this sub, social security payments may be not a matter of survival — people have savings and/or other means of income. This opens a possibility to invest this money. Ultimately, it will included in the amount a person leaves to his or her heirs. If this is the intent, do I delay the start of the payments or start early?

I did not go into spousal benefits; the analysis applies to a single person. (But I assume that for couples it will be similar.)

The conclusion is: if at 62 you do need social security money for everyday expenses, get it because you have no other choice. If you do not need this money for everyday expenses, get it anyway and invest.

Mathematical details can be found here: