Originally Posted by HaHa
It didnít change my mind, as I already planned to wait, but it does make me feel more comfortable
I just got the Silbiger book and read it this weekend.* What was interesting is that I thought I could not "afford" to wait till my/DW full retirement age (66) to draw SS due to our planned retirement at age 60.* Crunching the numbers through the five tools I use to cross check my "assumptions" showed that we could certainly wait to draw the maximum.* In all test cases, with all tools, it maximized the residual estate value at the end of our plan.
Yes, there is always the question of "will SS be there for my retirement".* Since DW/me were born in '48, I believe that we will be "in the ground" before major changes (if any) are made to the SS system.* Regardless of that risk, we're fortunate to have assets that will cover 100% of our current net income till our respective forecast mortality table entry.* What the "Silbiger Suggestion" does is extend our plan to age 100.* We we near that goal with our current plan, but this change more than assures that target age.*
I like the idea of taking some of "our" money "off the table" by drawing down a bit more at early retirement, and to have an "annuity" (e.g. SS) later in life when we may not be in a mental condition to make these kind of decisions (no, I don't believe in "financial consultants" - but that's another story...)* You can certainly make the argument for making more money "in the market" than SS will provide, but others can (and have) make the opposite argument of "loosing due to the market".
Since we're leaving our remaining estate to charity, it just may wind up that if we "beat the system"; some folks that "need it the most" (per our future bequests) will share in our "windfall".
Anyway, that's my story (and I'm sticking to it!)*