Dear Liz: The standard advice is to delay taking Social Security as long as you can.

But if I plug my expected benefits into an Excel spreadsheet, I find that my total benefit if I retire at 67 doesn’t pass my total benefits if I retire at 62 until I turn 77.

Retiring at 70 seems like it only pays off, in the long run, once I am 79.

Answer: A spreadsheet is not the best way to determine when to take Social Security, since it can’t capture many of the important factors that should go into the decision.

A key one is survivor benefits. If you’re married and the higher earner, your benefit determines what the survivor gets after one of you dies. Applying early could mean locking the survivor into an inadequate income for the rest of their life.

Another factor is longevity risk, which is

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