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No. of Recommendations: 29
Few retirees understand enough actuarial science to do the arithmetic and as a result leave a lot of money on the table.

This idea is brought up here in one form or another every few months. The difficulty with saying that folks 'leave a lot of money on the table' is that **every person** has different circumstances.

What if, for example, the person has a family history of close members dying in their early 70s? If they took SS at 70 v. 62, wouldn't they have left a lot of money on the table?

What if a person has only $50K or $100K of "bridge" money? Should someone spend all of that while waiting to take SS at 70?

What if you have no bridge money at all?

If you have millions in investment assets and a potential mortality of 95 or 100, then the waiting option makes a lot more sense. Of course, at a certain asset level, you really wouldn't need SS at all.

Pete
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