[tx_eggman]

The payments are about 40% less than if one waits until full retirement age (66 for my birth year),

If you were born between 1943 and 1954 the reduction for taking it at 62 as opposed to 66 is 25%, not 40%.

[Deo volente]

I guess I had the math a bit wrong there! Thanks for pointing that out. My statement says it would be almost 30% less than if I waited until 66.