It depends upon how lengthy you will reside. Because none of us has that specific crystal ball handy, you will need to assess the very best age according to how lengthy you believe you will be about. In the event you believe you will die fairly early – sorry, this gets morbid – you will clearly wish to begin obtaining payouts as quickly as you possibly can (correct at age 62). Nevertheless, in case your grandparents lived to one hundred and also you believe you most likely will as well, your very best technique would be to place off taking payments till you turn 70.
In the event you reside previous a particular break-even date, waiting to obtain your complete advantage quantity offers much more cash within the lengthy run than in the event you retire early and take the decreased payment. In the event you had been to die prior to that break-even point, nevertheless, you'd happen to be much better off going using the early (albeit decreased) advantages. Take a look at the Social Safety Administration's break-even calculator.