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Author: SeattlePioneer Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1719  
Subject: Re: Parents Nearing Retirement Date: 8/31/2006 1:06 AM
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<<In every situation where I've done it, a present value calculation of SS payments shows that it's much more prudent to take the money at 62, not later. The small increase one would get by waiting takes many many years to make up for what they would be getting by starting earlier. Waiting until 66 usually takes about 15 to 18 years before that decision becomes positive. In every calculation I've done, waiting until 70 NEVER pays back.


I wonder what an actuary would say about this issue using good data? Someone must have studied the issue in an unbiased way.

Plus, you get to make the decision based on your personal knowledge of family health history and your knowledge of your own heath and physical condition. That should allow a reasonable person to improve the odds of making a favorable decision quite a bit.

Seattle Pioneer
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