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Old 03-28-2015, 01:13 PM
 
671 posts, read 666,702 times
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Take the money ASAP and run....By the time you reach the break even point inflation will have devistated the dollar value... You'd be better of taking the payments and investing them if not needed for income...Also if you have investments out there,,like stocks,,,you can let them ride until needed. At any rate even if you reach a ripe old age and your income is lower that if you waited the difference will be backfilled by food stamps,subsidized housing ect.. In effect your standard of living will be fairly equal in either model...
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Old 03-28-2015, 01:27 PM
 
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Mathjak: What is the formula used in Calculating Real Return On Delaying By Age column?
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Old 03-28-2015, 01:27 PM
 
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Quote:
Originally Posted by USAGeorge View Post
Take the money ASAP and run....By the time you reach the break even point inflation will have devistated the dollar value... You'd be better of taking the payments and investing them if not needed for income...Also if you have investments out there,,like stocks,,,you can let them ride until needed. At any rate even if you reach a ripe old age and your income is lower that if you waited the difference will be backfilled by food stamps,subsidized housing ect.. In effect your standard of living will be fairly equal in either model...
unless you have a pension to live on it usually is not a case of taking the social security dollars early and investing them . the more likely outcome is it will be case of spending down your existing investments to delay while living off the ss money.
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Old 03-28-2015, 01:29 PM
 
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Default Thanks!

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Originally Posted by biscuitmom View Post
Use the SS calculator and enter 0 (zero) for current year earnings.
Thanks! Exactly what I was looking for!
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Old 03-28-2015, 01:30 PM
 
Location: in the miseries
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Originally Posted by mathjak107 View Post
you are welcome. i am still learning myself. the more i learn the more my own plan is changing . i went from delaying to 70 to delaying to fra and now that i took a look at some workups figuring the lost checks in the equation along with lost gains on what i am spending down from my portfolio waiting i am looking at 63. i am retiring at 62 in july so i will likely take the first check in january..

waiting is a big benefit if you need ss to eat though. not such a big deal if you were going to spend down a portfolio and give up checks while waiting .
Yeah for you. And you can still earn $15,700 approx. per year.
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Old 03-28-2015, 01:31 PM
 
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Originally Posted by LookingatFL View Post
Mathjak: What is the formula used in Calculating Real Return On Delaying By Age column?
i don't think it is showing real return as in inflation adjusted as nothing is inflation adjusted . it appears to just be a simple dollar for dollar return and they called it "the real return "
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Old 03-28-2015, 01:31 PM
 
Location: in the miseries
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Originally Posted by Burkmere View Post
Well, pros and cons of taking early of course but I also wanted to make sure it wasn't a big reduction if I quit working at 61 even though obviously I have to wait until at least 62 to take it and I'll possibly wait later. Going back and forth about what to do. Can afford to wait until after 62 but not sure I want to.
Spending your own money means less for your heirs.
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Old 03-28-2015, 01:34 PM
 
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Default No heirs

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Originally Posted by luvmyhoss View Post
Spending your own money means less for your heirs.
I don't have heirs and the nieces and nephews will be ok. I'll undoubtedly have "something" to pass on, but it's a very low priority.
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Old 03-28-2015, 01:36 PM
 
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delaying usually leaves more for heirs not less .. don't forget if you delay to 70 and get almost 2x the ss check as 62 , your own spending from your portfolio drops way way down and not just for 8 years but possibly for decades. usually delaying leaves more for heirs . it all depends on how long you live and not if you spent down up front delaying or not.

just figuring average life expectancy for a 65 year old delaying leaves more for heirs.
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Old 03-28-2015, 01:38 PM
 
Location: in the miseries
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It's the possibly that resonates.
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