Big_Hitter
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
looking for the beating a dead horse gif....
pb4, good way to look at it. But...I previously posted this in another thread back in March, but it is relevant to this topic and the notion of delay being equivalent to buying longevity insurance:
it could be longer than 22 years if spousal benefits are involved . as an example my wife does not get a 4500.00 dollar adder to her early benefit until i file .
our results when spousal benefits were considered was opposite . assuming average life expectancy for a couple we had more left over of our own delaying ss . it also gave us a higher draw rate day 1 since the ss has no sequence risk to account for so no extra powder has to be kept dry . our budget is bigger day 1 delaying than taking ss since we can refill down the road with a check 69% bigger plus colas with no sequence risk to account for .
looking for the beating a dead horse gif....
I previously posted this in another thread back in March, but it is relevant to this topic and the notion of delay being equivalent to buying longevity insurance:
Perhaps because there is no such thing as their money and your own money. There are many way to look at this, but their money and one's own money is not likely to be a helpful way IMHO.Same here. Spending more of their money and less of your own money is always good. And the benefit piles up over the years.
Moral of the story: If you want to keep more of your own money: Take SS early.
I made the same observation a long time ago, maybe it was here or maybe on another forum I used to hang at. It was not well received.
pb4, good way to look at it. But...
don't you need to adjust the benefits paid 62-70 to NPV at age 70?
Have you tried the calc including earnings on the 8 years of foregone SS so you'd get more useful results?
Folks who are modeling 7.5% or 5.2% real returns, or 3% for that matter, for a diversified portfolio in the near term (e.g. 8 years, the period affected by the "early or late SS decision") aren't viewing the investment world in the same way I am. ...........
Same here. Spending more of their money and less of your own money is always good. And the benefit piles up over the years.
Moral of the story: If you want to keep more of your own money: Take SS early.
I made the same observation a long time ago, maybe it was here or maybe on another forum I used to hang at. It was not well received.
Perhaps because there is no such thing as their money and your own money. There are many way to look at this, but their money and one's own money is not likely to be a helpful way IMHO.
Ha
I'm sure that when you plug your numbers in - you'll see results similar to ours, if you're married. Even if you were single and earned just 5% during the accumulation and withdrawal phases - you'd still match your age 70 SS rate until you're 90. Age 70 start SS would win over 90 then, but you'd be positive at just 5% earnings during those 8 years of accumulation and aro.20 years of withdrawals up until then. Remember, you don't have to take the funds at 70 - you can let them still grow until you need them, if ever (unlike SS which stops the age increases at 70).....
Not sure your situation is typical. It sounds like the numbers you came up with were based on paying no taxes on your SS income (between 62-70). I would think many on this board, probably the majority, will pay some tax on their SS income. In my case if I take SS at 62 it will also push be into a higher tax bracket and eliminate my ACA subsidy. My current plan is to wait until FRA.
^^
I understand, but perhaps some people simply want to enjoy the extra money in their healthiest years when they are most likely able to make the best use of it??
For me, if I make it past the break even point for early CPP, I plan to celebrate that I beat the actuary calculated odds...
+1I don't think most of us find 'fault' with others who use SS differently. I imagine the majority of folks would agree that when to take SS is a very personal decision for an individual or couple.
+1
I think the question has different answers for different people in different situations. Most of us here realize that, although sometimes that doesn't come across in the written word. The few who don't see that different situations call for different strategies, will figure it out eventually.
+1
I think the question has different answers for different people in different situations. Most of us here realize that, although sometimes that doesn't come across in the written word. The few who don't see that different situations call for different strategies, will figure it out eventually.