No. of Recommendations: 1
Rayvt complains,

<<The cheapest way to buy an annuity is to delay SS until age 70. For someone with max FICA earnings, it represents a $50,000 to $80,000 savings over buying a commercial annuity. Most retirees regard that as a consideable amount of cash.>>

The cheapest way to buy THAT annuity. The start age is fixed; the amount of the "annuity" is fixed. Fixed as in: determined by the SSA without regard to your own preference or opinion.


Sure, it's a $1,255/mo inflation-adjusted benefit at age 70. If you decide you need a $2,000/mo benefit, you'd save $50,000 to $80,000 by "buying" the first $1,255/mo from the Social Security Admin and the remaining $745/month benefit from a commercial insurer at their inflated rates.

Are you somehow arguing because the SS Admin won't sell me exactly the amount I want, I should forgo the gift of the $50,000 to $80,000 discount and buy the whole $2,000/mo benefit from an insurer?

That seems odd, unless you have some kind of religious or political reservation on taking advantage of a good deal being offered by "the Govmint".

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