Collecting Social Security early can help retirees assess how much they can spend because the payments are consistent. So reports Wealth Management.
Also, proponents of waiting typically point to the 8% payment increase you get for delaying the payments. However, the nominal annualized reture when waiting a year is less than 8% and retirees will miss out on a full year of payments.
Lastly, collecting Social Security may be more attractive than withdrawing money from an IRA when considering taxes.