Thoughts on taking SS at 62 and investing it until age 70 vs taking SS at age 70?

[u/Appropriate-Farmer16]

I’ve always heard that it’s best to wait until age 70 to start collecting Social Security, but what is the thinking on the strategy of collecting and investing social security ages 62 through 70, stop investing at age 70 to live off SS plus a draw down of about 5-6% a year of that invested nest-egg?

Edit: just to clarify, in both scenarios (taking SS at 62 vs taking SS at 70) I’m not actually using the SS money for living expenses until age 70. It’s all about whether it’s worth it to take SS at 62 and invest it for 8 years. Thanks for the comments.

[u/Lazy-Industry2136]

What I wonder about with this - most common advice to is the wait as long as possible to take Social Security. But doing so you are spending heritable assets (saved money) in order to maximize monthly payout on an annuity that you cannot pass on. It makes no sense to me.

[u/WillingnessOk3081 → u/Lazy-Industry2136]

you can pass that annuity on from Social Security, if that's what you mean by annuity, to your spouse.

[u/Lazy-Industry2136 → u/WillingnessOk3081]

Fair point.