Originally Posted by
jppe
For me, It’s just one part of an overall financial plan and factoring in required minimum distributions from IRAs, other income etc. Fortunately I don’t need the income at present. It also had a higher growth rate and overall return higher than other “guaranteed financial options”. My wife is also a good bit younger than me so if you assume she’ll outlive me starting the higher amount a little later gives her a little more income after I go to cycling heaven!!
JPPE - having a younger wife is the tipping point to taking the SS later.
From a probabilistic point, particularly if your spouse has no big 401/IRA/pension, her benefit after someone else owns your bikes will be better. We both turned 66 a few months back and elected to take our SS. In our case, we receive about a nominal $200,000 BFIT over the next four years that we otherwise would not.