Benjamin Grimm wrote: Benjamin Grimm wrote: Darryl is now eligible to start collecting Social Security, but he'd be better off waiting until he's 70. (Every day I get several articles in my Google News feed from Motley Fool telling me that it's better to collect at 70 than at 62.) Why so ? The longer you wait to collect, the greater your monthly benefit. You should only collect at 62 if you absolutely need the money, or if you have strong reason to suspect that you won't live to be 80. My mother in law did this, short sighted as usual, and now gets by on a pittance of a monthly check, with no real savings to speak of.