Center for Retirement Research: “At what age should you begin claiming Social Security benefits? If you’re approaching retirement, it’s the most important financial decision you’ll likely make. The Social Security Claiming Guide sorts through all the options near-retirees need to consider. Presented in an easy-to-read, colorful format, the Claiming Guide shows you where to begin, spells out how much you can get, and answers frequently asked questions about how the claiming process works.”
“
The simple reality is that this is an actuarial roll of the dice. Notwithstanding any calculation, if the person is healthy, really healthy, then it probably pays to wait until the last possible moment to take social security. If the person is sickly or in questionable health then taking early makes sense. The tough question is those in the middle between these two extremes. No one knows for sure what is best for them and calculations are just a guess and comfort for your decision. Hindsight will tell what is best.