Subject: Re: What's worse than lottery tickets?
The 62 decision is made because:
a) They need the money as soon as they retire. or
b) They decide that the utility of the SS money has a higher value now than years later. or
c) They decide that the break-even period of 10-11 years is too long. Not worth it.

I think you’re overestimating the analytical ability or desire of most people. I’d guess that:

d) It’s available so why not take it (or, it’s free money so why not take it).

is the most common reason.

Brian