No. of Recommendations: 1
Never mind, Rayvt, I figured out the COLA thing. So to bottom line basic ideas:

At a 6% interest rate and 2.5% COLA to SS, it's best to take:

at age 62 if you plan to die by age 83
at age 70 if you plan to live past 88
at age 66 if you plan to die between 83 and 88

Those are pushed out quite a bit if you assume a higher interest rate instead of 6%, or something smaller than 2.5% for the COLA.

I couldn't match Rayvt's numbers exactly, but even if they aren't exact, the story holds true. At any rate, I'd say that this statement is false: "If you don't need Social Security at all, take it at age 62."

It's not simple math at all. It depends very much on how long you'll live and what interest rate you'll achieve.
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