So, it's basically a gamble on how long you'll actually live. IF you did live to 90, would my scenario be accurate?The difference is your calculation on drawing to 90.
IF you only draw to 85? 80? 75?
At 70, she will have drawn for 7.5 years. At 67, 3 years and 70, $0
The key is; where is break even and do gamble on beating the "breakeven".
Social Security age was originally set at 65 because the majority of people didn't make it to 70.
As life expectancy was extended, retirement age was raised to 67 and 70.
Now, age expectation is coming down.