Lets assume you have 100k in yearly expenses and retired at any given time before 63. As your 63th birthday is only a couple of weeks away, you’re currently left with a 2.5 million portfolio. Should you take AHV as early as possible or delay it till 70 to make sure you’re extremely likely to never run out of money? What should be taken into account when running the numbers? Sequence of return risk, longevity risk, opportunity cost, taxes, remaining expected life expectancy, inflation? Did anyone run the numbers?

**63:** CHF 2’117 x 12 = 25.4k/year

**64:** CHF 2’283 x 12 = 27.4k/year (+7.8%)

**65:** CHF 2’450 x 12 = 29.4k/year (+7.3% / +15.7% total)

**66:** CHF 2’577 x 12 = 30.9k/year (+5.2% / +21.7% total)

**67:** CHF 2’715 x 12 = 32.6k/year (+5.4% / +28.2% total)

**68:** CHF 2’869 x 12 = 34.4k/year (+5.7% / +35.5% total)

**69:** CHF 3’038 x 12 = 36.5k/year (+5.9% / +43.5% total)

**70:** CHF 3’222 x 12 = 38.7k/year (+6.1% / +52.2% total)

As you can see taking it before 65 has the biggest impact. One could simply argue that taking it at 65 gives you a risk-free and guaranteed 15.7% higher income for the rest of your life. Reducing your yearly portfolio withdraws by 29.4k instead of 25.4k.