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I faced the same decision over 6 1/2 yrs ago (age 54 at the time). The reduction in annual benefits was too great for the 100% option. But I also had the option to select a 5 or 10 yr certain at 100% plus several others. I chose the 5yr certain option and have been diligent with other investiments and because of the ongoing bull mkt we are better off today. I felt that if I could make it to 62+ SSN would kick in as inflation hedge and then at 72ish IRA $ could be tapped. At the present time the wife will no longer receive my pension but with me out of the way and us free and clear of all debt she can very comfortably survive on what assets we have accumulated. This plan seems to be working for us. Its a little scary at first but is it great one you take the step. I don't honestly know how I ever had time to work.
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