If you’re between the ages of 62 and 70, you’re eligible for Social Security. But when should you take it? Allan Sloan, senior editor-at-large for Fortune Magazine, tackled the topic in Fortune’s annual investor guide. And he says it depends.

Conventional wisdom suggests you wait out as long as you can for the biggest monthly payments. Sloan and his wife chose to start collecting at age 67.

“The question becomes, do you need the money? Are you still working? And when do you think you’re going to die?”

Click on the audio player above to hear more from Allan Sloan about taking social security.