I'm trying to run my own calculations to decide the best time to collect SS, 62 or 70.

It can get extremely complicated.

I have figured the payments starting at 62, added 6% interest for 8 years.

Then for 63 added 6% interest for 7 years, at 64 added 6% interest for 6 years etc.

In these calculations I have also subtracted 15% of 85% of the payment to pay the taxes.

My wife still works so I will owe tax.

I also modified each first year because I don't have the full amount for the full year.

I also added 3% to the payment each year for cost of living adjustment.

So after 8 years, I have about $160,000.

Now, I'm ready to either add all additional payments togther from each scenerio,

either at the 62 yr old rate or at the 70 yr old rate.

For the 62 year old total, I need to add the $160,000.

Here's where I'm confused, Do I continue to grow the $160,000 at my 6% rate for the next

22 years? (calculating to 92 yrs old.)

If I do that, I should also do it for the additional years growing at 6% with 3% cost of living adjustments, for both the lower rate at 62 and the higher rate at 70.

This all assumes I will not spend the SS income or not spend the same amount from my portfolio.

Where is my logic wrong and what have I missed. In the spread sheet, my growth rate and inflation rate will be adjustable.

My preliminary calculations show collecting at 70 puts you ahead at 92, but I want to continue

and find where the crossover point is.

Any help is highly appreciated. Thanks.