I know each year if I dealy to apply for SSB, I will get 8% more till I reach 70. For 2022 the COLA is 5.9%, would I see a ~14% increase (8% + 5.9%) if I apply for SSB in 2022 vs I apply for it in 2021?

Why only an 8% annual increase in SSB but not the 8% plus annual COLA increase are mentioned by people who are experts ln SSB?

Hi. You would get the recent 5.9% cost of living (COLA) increase in your Social Security retirement benefit rate as long as you were born no later than January 1 1960. You don't need to be drawing benefits in order to receive credit for any Social Security COLA increases that occur after you turn age 62.

It sounds like you may want to strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully analyze all of your options so that you can determine your best strategy for maximizing your benefits.

Best, Jerry