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Here's how the maximum monthly benefit looks at 62, 67, and 70 in 2024.
[th]Retirement Age[/th]
[th]62[/th]
[th]67[/th]
[th]70[/th]

Maximum Monthly Benefit
$2,710
$3,911
$4,873


Data source: Social Security Administration.
As you can see, it pays to wait when you've already earned enough in your career to maximize your monthly Social Security benefit. Those who are 70 can collect up to $4,873 in monthly benefits this year, or $58,476. That's enough to replace the median income in the U.S. Those who are 62, by comparison, will take home just $32,520 in annual Social Security income. They'll very likely need to supplement that with other savings.

I'll be 62 in January 2029. 70 in January 2037.

I think I'll start early.

They claim it "pays to wait", but that determination depends on other variables obviously, one of which is your life expectancy relative to the SS actuarial standard.  The amounts are adjusted to pay the same amount over the mean expected lives of recipients.  If you live longer, taking it at 70 may be better.

And then there is the variable of how one might invest the monies, if one can, at 62 for 8 years.

And then there is the possible cut in benefits in 11 years.

Those are what I'm looking at.

Yeah our great room/kitchen/dining are all open to one another. It's a great layout for entertaining.  And that's all open to the back covered patio which is about 240 sqft on its own.  There's no bifolding door/windows that open it up entirely, which would be awesome, but the back wall is entirely windows.  Overall the house is too traditional really to support those bifolding door/window things anyway, they'd look really out of place.

The next house is going to be a super modern glass box built in the middle of nowhere, and it'll have all sorts of cool indoor/outdoor features, including a water feature that flows from indoors, under the wall to the outdoors, and into the pool.  I've already got most of that house designed in my head, and my best friend who is an architect, is going to finalize it all for me.  Someday...

I've seen some apartments around here is new buildings listed at 500 sf, clearly "efficiencies", no rooms aside from a bathroom.  My daughter lived in one in Manhattan for two years, it was "adequate" for one person.  I read an average motel room is 350 sf.  

The 2 bedroom condos in our building start at 1100 sf, maybe some are even smaller.  Most of them house couples who seem to manage.  My wife and I both do better with some separation, not because we're mad, we're both used to being alone.  And her kids left a fair bit of stuff with us that is crowded in one short hallway.

Your kids may also leave stuff behind.  And  the rent on these storage units adds up pretty fast.

I've seen some apartments around here is new buildings listed at 500 sf, clearly "efficiencies", no rooms aside from a bathroom.  My daughter lived in one in Manhattan for two years, it was "adequate" for one person.  I read an average motel room is 350 sf. 

The 2 bedroom condos in our building start at 1100 sf, maybe some are even smaller.  Most of them house couples who seem to manage.  My wife and I both do better with some separation, not because we're mad, we're both used to being alone.  And her kids left a fair bit of stuff with us that is crowded in one short hallway.

Your kids may also leave stuff behind.  And  the rent on these storage units adds up pretty fast.

They did, with a short time limit, or it was off to the curb.

I hate storing shit.

Our mover was amazed at how little we had to move here.

You are a humble dirt farmer with modest requirements.  I respect and applaud you!

I'll be looking at something along these lines, either on a lake with several hundred feet of private frontage, or sitting in the very middle of 200 acres somewhere way out in the hill country.

[img width=500 height=211.994]https://i.imgur.com/g0VjrFN.jpeg[/img]

If I had your money I'd do the same
might be on a golf course instead of a lake

I collect my first ss check at the end of June. Just short of 64. Didn't make sense ti collect it sooner as we made too much money and would have had to give some of it back.