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If you live to the average life expectancy for someone your age, you will receive about the same amount in lifetime benefits no matter whether you choose to start receiving benefits at age 62, full retirement age, age 70 or any age in between.
However, monthly benefit amounts can differ substantially based on your retirement age.
Basically, you can get lower monthly payments for a longer period of time or higher monthly payments over a shorter period of time.
Thus, the longer you wait, the higher your social security payment will be.
With respect to outside work, the Social Security Administration says:
"When you reach your full retirement age, you can work and earn as much as you want and still receive your full Social Security benefit payment.."
You may find this link to be informative: http://www.socialsecurity.gov/pubs/10147.html
As you probably know, you have reached full retirement age at 66. Thus, you should have no penalty for outside work.
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