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Start social security at 62? 65? 70? Someone around TMF, intercst maybe, summarized it this way: If you have reason to think your life expectancy is less than average, pick 62; if average, pick 65; if above average, pick 70.

I just reran the numbers with my personal spreadsheet. It's a conservative plan: stabilization of the purchasing power of the assets from now (age 60) until age 95; using 8% return and 4% inflation, and my latest earnings statement from Social Security, prepared a month ago. It says that waiting from age 62 to age 65 years, 4 months, (I was born in 1939, so I have to wait to this age) to take my Social Security, and using the same after-tax standard of living, provides that the final balance in my retirement account is . . .

*** drum roll ***

1.24% bigger!

Guess it doesn't matter when I start it, partly because Social Security provides only about 13% of my expected income in those 35 years. Seem to me that people need to run the numbers for themselves, reflect on their probable longevity and recall that the inflation and investment return and income tax burden are only estimates.

Be well,


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