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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 74759  
Subject: Re: What age to take SS payments? Date: 12/10/2013 12:45 PM
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Be aware that actuarially equivalent means on average, the payout for the general population will balance out to near zero. Your mileage as an individual will vary.


This isn't Lake Woebegone. There is no reason to think that you'll live longer than average. It doesn't matter that your parents and grandparents were still healthy at 90, when a runaway gravel truck T-bones you.

Of course, you don't want to plan to spend your last dime on the day before your Life Expectancy, either.

There are a lot of things that are beyond your control, also. No matter how well you plan, an Argentina-level inflation will nullify any plan.

IMHO, the best solution for all of this is to plan & arrange your finances so that SS is *not* what you depending on for basic living needs. If you've got $5M+ then you could care less what amount of money you get from SS. You don't need to optimise it any more than you currently need to optimise your purchase of a paperback book.

Or, in current days, to optimise the interest you earn in your bank account. I've told the manage at our branch that the piddly little amount they pay is more nuisance to me than it is worth.
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