UnThreaded | Threaded | Whole Thread (110) | Ignore Thread Prev | Next
Author: ResN Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75523  
Subject: Re: What age to take SS payments? Date: 12/8/2013 7:43 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 2
Several years of reduced monthly payments taken early will never fully compensate you for taking a reduced benefit for the rest of your natural life.
'never' is a pretty bold statement. It actually depends completely on how long your natural life is. If you wait for your full retirement age, but die prior to that age, or even up to a couple of years later, you would have been better off taking SS early.

As the last post mentioned, "never" is not only a bold statement but a totally incorrect one to boot. There are caculators that show the breakeven age, and I haven't seen a caculator that takes into account the investment return value that comes from early payment. Bottom line for me: a bird in the hand. Now, I'm getting my so-called full SS benefit (as in the age 66 benefit). I don't actually need the money to live, but I take it because I have almost no chance of living long enough to hit the breakeven point due to certain health issues. True, my wife might could benefit from me waiting until age 70, but I likely won't be around by then (I hope so, though). She still would have enough money without SS, but SS gives us (her) more options in terms of gifting to adult son (and his family), charitable giving, and inheritances. I think it's good to discuss the "when to take" issue, but I think far too much oxygen is lost on the overall debate. Just my two cents.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (110) | Ignore Thread Prev | Next


The Retire Early Home Page
Discussion on accelerating retirement day.
Post of the Day:
Berkshire Hathaway

Brookfield Asset Management
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.