Are you sure you want to delete this post?
I keep reading arguments one way or other on different strategies for retirement ages and taking out Social Security benefits. Curious everyone's thoughts here on this. There are 3 main talking points - early, full retirement age, or late as possible.
It varies a bit depending on when you were born, but the general ages are:
Early as possible: 62 years old (75% of benefits, goes up every month/year you wait)
Full retirement age: 66 years old (100% benefits)
Late as possible: 70 years old (approx. 132% max if you wait)
Here's a calculator, if interested as well: Early or Late Retirement?
Do you think one strategy is better than another no matter what, or does it depend on life situation? To me, it seems to make the most sense to start at exact full retirement age. All things being equal. But if you really need the money sooner, early. And if you were lucky, employed well or have lots of savings from other avenues, to wait until 70.
Thoughts? Figured this was a good discussion forum, as there are hundreds of articles out there that make the argument for all 3 pretty convincingly.