Running_Man
Thinks s/he gets paid by the post
- Joined
- Sep 25, 2006
- Messages
- 2,844
In reviewing the increases in Social Security I see that the increase from age 69 to age 70 is actually only 6.45% not 8% as the 8 percent is of the full retirement benefit. So waiting each additional year after the first year is steadily less advantageous. Using the single male the life expectancy of 14.8 years at age 69 would result in a 6.75% payout for just the return of capital to the end of life expectancy. For a single female it is 5.85% so there is a small expected real return built in for females but not males. Obviously if both are alive it would have an even better return.
So for you single guys out there, Social Security is probably fiscally better to take at 69 than 70.
So for you single guys out there, Social Security is probably fiscally better to take at 69 than 70.