I'd like to explain here exactly what is wrong with the program at calcbuilder.com, but I haven't spent the time figuring it out. I think there must be something wrong because when I enter some inputs for assumed inflation, investment rates of return, etc., and calculate with age 65 as the age at which I will claim Social Security benefits, the program results show I will have enough during retirement and will leave $273,321 for others to inherit after I die. The problem is what happens when I leave everything else the same and change only the age at which I will claim Social Security benefits from age 65 to age 62. Now the program results show I will have enough during retirement and will leave $2,729,558 for others to inherit after I die! It just does not make sense that taking actuarially reduced benefits for 3 years more multiplies my wealth by 10 over a 35 year retirement.I'd appreciate any thoughts you may have. I just think someone must have goofed on that calcbuilder program. Absent any explanations, I'd recommend against anyone using it.
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