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[QUOTE="dog bone, post: 5285747, member: 253"]
The break even point for taking SS early vs waiting is the age of 77-78 years.  If you expect to live longer, you are best to defer taking SS early and waiting if you can as you will be getting more money from the system the longer you live beyond 77-78 years old.

That said, my wife and I plan on taking it at 62 as we both have some health issues.  Also, not sure what SS is gonna look like 5-10 years from now, so we wanna grab it early while its still there.  For the same reason, I took a lump sum pension payment from my work instead of annuity as I had some doubts the annuity would be guaranteed for the rest of my life.  There are stories of lifetime pension annuities running out.

We work with a financial advisor and they did suggest deferring SS and keeping my pension annuity, but we just don't feel comfortable doing so.  Given that, the financial advisor did put together a strategy and our money in retirement funds should outlast us, even if we live into our 90s.
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