You are money ahead to take it the very first day you can.
Let's assume you'd get $1,000/month at 62 and $1,600/month at 66.
If you start taking the $1000, you'd receive $48,000 from then until you turned 66. Now divide that $48k by 600 and you see that it would take 80 months, or almost seven years, to make up the $48k you wouldn't have gotten if you had waited to start accepting the cash. So you wouldn't actually come out "ahead" until you turned 73.
Correct Rocky, except that you'd get a larger check each month by waiting (I started at age 70 and receive $2220/month). If you don't need the money, you'll get a larger monthly check (and live better) by waiting. It is an individual decision that depends on each set of circumstnaces.
