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10-31-2007, 04:49 PM
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#1
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2004
Location: South Texas~29N/98W Just West of Woman Hollering Creek
Posts: 6,412
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62/70 Solution
Interesting SS strategy.
http://finance.yahoo.com/focus-retir...-post-spending
Quote:
Part of why the 62/70 solution works is something known as joint mortality. Consider a husband and wife, both born on Jan. 1, 1950. When they become eligible for Social Security at 62, the wife will have a projected life expectancy of 84 years and 8 months. That roughly means there's a 50% chance she'll live that long (roughly, because the median life span is not necessarily the average life span). The husband's life expectancy will be 81 years and 10 months. But there's a 50% chance one spouse will die before 78 and a 50% chance the second will hold on until almost 89, the Government Accountability Office calculates. So, in effect, a woman who takes Social Security at 62 isn't necessarily accepting a smaller payout until 84, but only (on average) until her husband (or she) kicks off shy of 78.
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__________________
Part-Owner of Texas
Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx
In dire need of: faster horses, younger woman, older whiskey, more money.
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10-31-2007, 04:57 PM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: No Country for Old Men
Posts: 47,520
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Mickeyd, AzDreamer beat you to it by a couple of days:
http://www.early-retirement.org/foru...les-30921.html
__________________
Numbers is hard
Retired in 2005 at age 58, no pension
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10-31-2007, 06:36 PM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2004
Location: South Texas~29N/98W Just West of Woman Hollering Creek
Posts: 6,412
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Quote:
Mickeyd, AzDreamer beat you to it by a couple of days:
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Thanks. I thought that it sounded familiar.
__________________
Part-Owner of Texas
Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx
In dire need of: faster horses, younger woman, older whiskey, more money.
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