No. of Recommendations: 27
Individual Social Security beneficiaries may have some reason to believe that their life expectancy is more or less than the median and can take advantage of that by choosing when to start benefits (i.e., early or late)

My father lived to be 94, he surely would have done better to delay his benefits (I have no idea if he did or not.)

But wait. He became incapacitated at 85, and really wasn't much good after 80, so all that extra percentage ended up going to the retirement home, not really to improving his quality of life. (Many retirement homes, at least the two he was in and the one my FIL was in will take you in under certain conditions, and once you're in, you're in whether you can continue to pay or not. They take *every penny* of your Social Security check once you have depleted your own funds, but they promise not to kick you out. They have actuaries, too, so they're "revenue neutral" on these kinds of deals. They're just doing an inverted double back flip annuity with a half-twist.

And that "extra 8% per year" went right to the nice people working at the home, and to the REIT which owned the land under it, and to the investors who owned the place. So yeah, maybe he "took advantage" of that swell benefit - or not - but it didn't really "benefit" him at all.
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