By waiting until I was 70 to collect Social Security I lost lots of money that could have been invested

[mathjak107]

i always work it in and mention it and show the calculation on a balanced fund all the time . assuming best outcomes on the balanced fund it would take 1 person in a couple to live to 90 to tie it . less if markets are not so good .

ss roi would be an after inflation return of 5% which is guaranteed , balanced fund hit and miss .

[hikernut]

Originally Posted by Old retired folks

No one, other than Mathjak, is talking about the huge amount of money being lost in investment return due to annual withdrawals of money due to no Social Security. Why?

FYI: We (the old retired folks) took the advice of our financial planner and burned through most of our money so we could pay our bills while retired from age 60 on while not collecting Social Security until we were 70 years old.

As I responded to the original poster, these planners do not have some crystal ball that tells them the future. In my opinion, they tend to give advice that will not get clients in trouble and will give some solace during really bad markets. You were given conservative advice. Are you not able to pay your bills today? If the planner had given you aggressive advice and it backfired, I'm guessing you would probably be in a much worse spot.

If we want to bet on the nominal or typical outcome, we should maximize low-cost debt like mortgages, and always have all of our assets invested in the equity markets. Statistically speaking that will give the best outcome. Most people do not follow that route because there is some chance that it will backfire.

[leastprime]

I never give advice to anyone for whatever reasons.
Of course, always remember YMMV

[leastprime]

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