Ugh, trying to figure out social security.
Is it dumb to put off collecting it after you retire in order to get a bigger monthly payment?
It doesn't seem to go up all that much. If you put it off a year to get $218 more per month, you LOSE 1 year of say $2800/month.
So you lose almost $34000 to gain $218/month.
It would take 13 years to make that back.
Amiright???
I've thought this before about people working forever to get a bigger pension. They'll never make back the pension money they could have had all those years they waited.