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Author: Rayvt Big gold star, 5000 posts Top Favorite Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75383  
Subject: Re: What age to take SS payments? Date: 12/9/2013 3:59 PM
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$1500 fewer dollars per month would not be a trivial difference for a married 80 year old couple
If that's their sole source of income, yes.

But the (2013) maximum benefit would be $1,923 if you retired at 62. So someone who would be getting $1800 is in the top tier of income earners, and should have much more retirement income source than SS. Remember, SS was not designed to keep retirees in luxury -- it is intended to keep retirees from being destitute.

A 1%'er should easily have $2M in liquid net worth when they retire at 62. Stocks, bonds, 401k, IRA, etc.

4% of $2,000,000 is $6666/mo. Assume this $6666 grows at COL rate (assume 2.8%), at 80 they'd be getting $10,958.

Their early (62) SS would now be $2959, and the late (70) SS would be $4175. That's $1216/mo. But let's go with your $1500 and say that they'd be getting $4459.

So their TOTAL income would be:
10,959 + 2959 = $13,918
10,959 + 4459 = $15,418

So, yes, I'd say that this 80 year-old couple would say this $1500/mo difference was trivial. There's nothing that you can do with $15,00 that you can't do with $14,000.
They'd not be changing their diet from filet mignon to Alpo. Although they might be dropping down from King size cut to Queen size once a month.
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