Ghost of Igloi wrote:
I would wait until at least your FRA (Full Retirement Age). If one takes SS at the earliest date, age 62 one would lose 25% of the FRA benefit.
Solid advice, but why stop there? Your benefit doesn’t max out until age 70. I understand that some people need the money sooner, but for those who don’t the wait can end up putting more money in your pocket. For someone whose full retirement age is 66, waiting until 70 means you come out ahead at age 81 (my calculations did not include an inflation adjustment which would reduce this age).