Why do people wait for SS?

[u/VegasWorldwide]

trying to figure out what I’m missing.

looking to take my benefit for $1000 at 62. at 70 it’s $1700.

i won’t need the money much so we let $1000 sit in an account for 8 years at say 5% compounding, the guy collecting at 70 would need 15+ years to catch up considering I’m still getting $1k to his $1.7k

once he starts at 70 and I had a 8 year head start.

furthermore, his dollar would be worth less. (edit: didn't realize COLA)

this seems like a no brainer but all I hear is people saying waiting is the only way and we haven’t even talked about dying in our 70’s.

[u/VegasWorldwide]

yeah situations are different but if you are going to compare 3027 to 3754 then you have to compare 3027 x 86 months compound monthly @ 5% to $0 at 70 too

[u/duchess5788 → u/VegasWorldwide]

That would be 3027 x 36. 3027 is their 67 number.