Just to keep the numbers simple, let's say you'd get $1000/mo at age 62, and $1500/mo at age 66.
In those four years, you'd take in $48,000. At 66, it would take you 96 months (eight years) to make up the $48k you didn't take. So you wouldn't "break even" until age 74.
Plug in your own numbers and then make your decision based on your health, your family lifespan history, and your financial needs at each age.
