Social Security at 62 vs 67 vs 70: Using a MYGA Bridge to Maximize Benefits

Delaying Social Security from 62 to 70 increases your monthly benefit by 77%. But how do you fund the gap? The MYGA Bridge Strategy: Scenario Monthly SS Annual SS Strategy Claim at 62 $2,300 $27,600 Take early, lower forever Claim at 67 $3,300 $39,600 Wait 5 years, mid benefit Claim at 70 $4,100 $49,200 Max benefit, need bridge Gap to bridge (ages 65-70): 5 years × $40K/year = $200K A 5-year MYGA at current top rates provides: Guaranteed principal preservation 6.65% annual interest 10% annual free withdrawal for income No market risk during the bridge period The payoff: At age 70, your SS benefit is $21,600/year higher than at 62. Break-even vs early claiming: age 80. With average life expectancy of 85+, the math strongly favors delay. The MYGA bridge makes the decision easier — guaranteed income fills the gap while SS grows 8% per year.