OK - I'm there this month - the magic 66 years old, which, for me, is FTA - Full Retirement Age.

At 66, of course, you can draw your full amount, but waiting another year increases that amount by 8%.

Each additional year you wait, another 8%, up to a total of 32% growth at 70.

It's crazy, because if you wait till 70, your monthly payment is higher for the rest of your life, but you've given up 4 years of payments at "full" amount.

It's a numbers game, of course, depending on how long you will live, whether it makes more sense to start at 66 or 70 or somewhere in between.

I google "when to start drawing Social Security", and I get varying advice.

WAIT if at all possible, if you don't really need the money now.

Or start drawing it, but invest it without using it - the "take and invest" strategy.

Anybody been there? Thought this through?

At 66, of course, you can draw your full amount, but waiting another year increases that amount by 8%.

Each additional year you wait, another 8%, up to a total of 32% growth at 70.

It's crazy, because if you wait till 70, your monthly payment is higher for the rest of your life, but you've given up 4 years of payments at "full" amount.

It's a numbers game, of course, depending on how long you will live, whether it makes more sense to start at 66 or 70 or somewhere in between.

I google "when to start drawing Social Security", and I get varying advice.

WAIT if at all possible, if you don't really need the money now.

Or start drawing it, but invest it without using it - the "take and invest" strategy.

Anybody been there? Thought this through?

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