Taking Social Security Before Full Retirement Age

Hi Terry. I have heard it widely said that we should avoid taking social security before 67 (unless we have special circumstances) because the future benefits can be as much as 30% less than if we waited until 67. But here is my question…..I have heard that the break-even from taking social security at 62 versus waiting to 67 can be as much as 13 years. Meaning, it is only after 13 years that you see the benefit of waiting until full retirement age (67). Suppose you take those early benefits and invest them. Now that 13 year breakeven period will be extended even further. Can you help with solving this riddle about the general advice out there to wait as long as you can to take social security? I’m not sure if I am buying it. Thank you!