Yes — our software, with the default settings for inflation and nominal return, implicitly compares taking Social Security benefits with equally risky investments because it maximizes the present value of lifetime benefits.

The software does not, and you should not, directly compare relatively risk free Social Security benefits to high risk stock market investments. Direct comparisons are only valid for equally risky alternatives. For more detailed info, please see our FAQ "How do you use inflation rate and nominal rate of return and why did you choose the default values?"