How Inflation Changes Retirement Benefit Choices

One of the most important financial questions someone of retirement age in the United States faces is when to start collecting their Social Security payments ─ and this crucial decision deserves the best possible information to work from. 
Recently, there has been quite a bit of publicity about studies showing that for a retiree who lives to an average age, there is a six figure advantage to waiting until age 70 to begin the collection of Social Security payments. That is an amazing advantage ─ but does it hold up under close scrutiny?