The New Math of Delaying Social Security Benefits
Intense arguments have formed around what seems like a relatively basic topic: is it better to claim Social Security retirement benefits early at age 62, or to delay claiming benefits until later at age 70? It used to be a closer call, when people didn’t live as long and when interest rates were higher. But these days, I think the math is clear: People should delay claiming when possible. That’s especially true for singles and the higher-earning spouse from a married couple.
Pfau, Wade, "The New Math of Delaying Social Security Benefits" (2015). Faculty Publications. 267.