Social Security @ Age 62 or 67

A friend recently asked me if he should take Social Security at age 62 or 67. To answer the question, I put together a speadsheet that allows you to enter your income at both ages and then see cumulative totals for each.

In the example below, if your age 62 income is $1000/month and your age 67 income is $1500/month, you would need to live to age 78 to benefit from taking Social Security at age 67 (I have included a 1% increase for inflation in yearly incomes)...

Click on the above image to enter your projected incomes and see your own numbers

If there is a problem with the spreadsheet, please let me know in the comments section below.