Is Waiting Until 70 the Smart Move for Social Security?

Claiming Social Security at 62 is the early, popular choice, but delaying to 70 generally yields a much larger lifetime payout due to about a 76% increase in monthly benefits and a break-even around age 80. If you need income now or lack other savings, early claiming can be sensible, but most scenarios favor waiting. Investing the small checks from 62 is risky and often not worth it, given the security and longevity considerations; Social Security solvency concerns exist, with potential changes likely affecting younger workers more than those near retirement.