Retiring at 62, 67, or 70 is ultimately a trade‑off between time and money. Your numbers make the comparison very clear: retiring at 62 gives you a head start and more total money early, while retiring at 67 or 70 gives you significantly higher monthly income that eventually overtakes early retirement — but only if you live long enough to reach the break‑even age.

• Age 67 break‑even: ~76–77
• Age 70 break‑even: ~80–81 If you expect to live past these ages, delaying retirement produces more lifetime income. If not, retiring at 62 yields more total money collected. Below is the full combined analysis in one structured view.

📘 1. Age 62 vs Age 67 — Full Comparison

✔ Retire at 62

• Already collected from 62–66: $67,200
• Continue collecting at $1,400/month → $16,800/year

✔ Retire at 67

• Start collecting at $2,000/month → $24,000/year

🔍 Annual Difference

• Age 62 benefit: $16,800/year
• Age 67 benefit: $24,000/year
• Difference: $7,200/year more if you wait until 67

🔍 Break‑Even Logic

You already collected $67,200 by age 66.

Break‑even calculation:

$$\frac{67,200}{7,200}\approx 9.3\text{ years}$$

✔ Break‑Even Age

• Retire at 67 → break even around age 76–77
• Live past 77 → retiring at 67 produces more lifetime income
• Pass away before 77 → retiring at 62 produces more lifetime income

📘 2. Age 62 vs Age 70 — Full Comparison

✔ Retire at 62

• Already collected from 62–70: $134,400
• Continue collecting at $1,400/month → $16,800/year

✔ Retire at 70

• Start collecting at $2,480/month → $29,760/year

🔍 Annual Difference

• Age 62 benefit: $16,800/year
• Age 70 benefit: $29,760/year
• Difference: $12,960/year more if you wait until 70

🔍 Break‑Even Logic

You already collected $134,400 by age 70.

Break‑even calculation:

$$\frac{134,400}{12,960}\approx 10.4\text{ years}$$

✔ Break‑Even Age

• Retire at 70 → break even around age 80–81
• Live past 81 → retiring at 70 produces more lifetime income
• Pass away before 81 → retiring at 62 produces more lifetime income

🧠 Which Is Better? Practical Interpretation

✔ Retiring at 62 is better if:

• You value time, freedom, and lifestyle
• You have health concerns or shorter family longevity
• You want more active years while younger
• You have other income sources (pension, savings)

✔ Retiring at 67 is better if:

• You expect to live into your late 70s or beyond
• You want a balanced approach (not too early, not too late)
• You want stronger long‑term financial stability
• You want better survivor benefits for a spouse

✔ Retiring at 70 is better if:

• You expect to live into your 80s or 90s
• You want maximum guaranteed monthly income
• You want the strongest survivor benefit
• You can comfortably work or fund life until 70

🎯 My Conclusion (Based on Your Numbers)

• Age 67 is the optimal balance — reasonable break‑even age (~76–77) and strong monthly income.
• Age 70 is the best financial choice only if you expect long life (80+).
• Age 62 is best if you prioritize time over money or have health concerns.