Actually, if you claim at 62 you get the same amount as if you wait, assuming you live to the actuarial number they're using. You get more money per month by waiting, but you start later, and it equals out.
Even if you get the cost-of-living increases on the higher number by waiting, those will lag reality, and the currency is worth less. It comes down to what you do with the early funds -- if you invest in gold and silver, you could be glad you did. As a famous member of Congress once said, "the checks will keep coming, but they won't buy a loaf of bread." It's all about the opportunity cost and your life expectancy.
Actually, if you claim at 62 you get the same amount as if you wait, assuming you live to the actuarial number they're using. You get more money per month by waiting, but you start later, and it equals out.
Even if you get the cost-of-living increases on the higher number by waiting, those will lag reality, and the currency is worth less. It comes down to what you do with the early funds -- if you invest in gold and silver, you could be glad you did. As a famous member of Congress once said, "the checks will keep coming, but they won't buy a loaf of bread." It's all about the opportunity cost and your life expectancy.