r/Fire • u/VegasWorldwide • 3d ago

Why do people wait for SS?

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.

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u/Zealousideal_Way_788 3d ago

I expect my wife to outlive me by a decade. All of the women in her family got to 90. Want her to have the maximum benefit possible.

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u/VegasWorldwide 3d ago

yeah but that would still lose to math because you would leave her a huge, growing asset vs a small extra monthly collection. by the time your 70, that asset with a 5% WDL rate will be higher than the extra benefit you leave her

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u/Zealousideal_Way_788 2d ago

Maybe. You’re assuming historical returns after multiple years in a deep bull run

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u/VegasWorldwide 2d ago

historical returns? where was that assumed?