Steve's barking at taking the social security money and run.

I hear almost every day. I even hear from the social security administration.
Try to put off as long as possible taking social security. After all you will get 25% more in your social security check if you wait till your 66 and not take it at 62 when you legal can start to collect. The feeling goes that if you can afford to hold off getting your social security you will make more money, after all 25% more in your social security check is nothing to sneeze at.  I will agree if your working that's a good idea, but if your not you would be foolish even if you don't need Social Security.
Lets make believe that you would make $20,000 per year in social security if you collect at full retirement age at 66 and a minus of 25% from your check is $15,000.
The real truth is you make $15,000 a year in Social Security times the 4 years equal $60,000 dollars.
If all things stay the same (which we know isn't true but these numbers are probably still pretty close) a person will  make $5,000 more a year, now if my math is correct it would take 12 years to break even.
Again if my math is correct 66 plus 12 equals 78 years old before they would break even.
Life expectancy in the United State is a little over 78 years.
Is it a good idea to Wait for your Social Security?
If you don't need the money why not invest the extra $5,000 dollars a year?
If you are advised by your financial advisor hold off collecting Social Security, run don't walk away from that person.

* I used 20,000 for that was an easy number to use.
* Taxes weren't taken into account but it really shouldn't change the idea of taking Social Security as soon as you can.