Originally Posted by guest
Besides having more faith in me and my abilities vice a system, I also believe that aging has its own limitations. I want my money when I am able to enjoy it. When I am 75 I don’t believe I will have the same desires and energy I will have at 55! Show me the money! I need to play while I still can or while I am still around to play!!
A lot of the decision to defer pensions to later, or draw now, depends on the total circumstances of the person. If you have a great need/want for the money now, of course that makes sense.
Or, as in Budatx's case, current income stream seemed more than adequate without drawing the pensions now. In his case it was perfectly logical to defer if he felt like it, without greatly impacting his current lifestyle one way or the other. And he and his DW said they would continue working regardless---precluding lots of time to "live it up" and therefore have a great current need for more dough.
Most people likely are somewhere in the middle. They have enough to live on now, but not so much that drawing more bucks now from pensions wouldn't sweeten their current lifestlye noticably.
Your point about energy levels at age 55 as compared to age 75 also is a good one. Definitely something to be considered---when *is* one going to be able to do his "living it up" (and likely to need more money to do that living it up)?