Maybe I should post this in the 50+ forum, but I am already considering the pros/cons of collecting Social Security. I am 61 so could start in less than one year.

There are all types of online calculators that help your make the "right" decision, but these simply calculate lifetime benefit based on your life expectancy. They do NOT adjust for two important factors:

1. Money is often more valuable when you are younger so you can travel, buy new bikes, eat at nice restaurants etc., whereas when you are older you may not be able to take advantage of these items (of course you can argue you need the money to pay for aides etc) but in general the utility of each dollar is greater when you are younger
2. There is a pretty good chance that SS benefits will be cut in 10 years when the fund goes insolvent. I don't think this will be eliminated but a 20% cut across the board COULD occur. It might be better to get the "sure thing" earlier than a reduced benefit later. Maybe.

Based on these items, I may consider collecting at 62 or 65 rather than waiting for "full retirement" at 67.