I scheduled out the age that different payouts converged. That is, at some point (the long run) taking the higher payouts at a later date will result in higher overall payouts, if I live to a given age. As I recall, the point of higher payouts occurred at about 80 years old. I compared 62 to 66 (age then), 66 to 70, and 62 to 70. They all came out about the same: the higher payout occurred at about age 80. I'd rather have money now than then, so I opted for 62.