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Non-Tech : Kirk's Market Thoughts
COHR 178.34-10.2%Dec 12 9:30 AM EST
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George Statham
Kirk ©
To: Jerome who wrote (2786)2/12/2015 5:34:44 PM
From: w0z2 Recommendations  Read Replies (3) of 26768
 
Number 1 bad advice.....delay your social security benefits until age 70. The average recipient gets about $1500 per month. So a five year delay results in $90,000 in benefits being delayed. (60 months X 1500 = $90,000)
I disagree but it depends on your life expectancy. The break even point is about 82 and my life expectancy is about 100. (You can calculate yours with this link to The Longevity Game from Northwestern Mutual Life). My wife is 3 years younger than me and her parents lived to 96 and 100 (almost 101). If I die today, she will get my full benefit for the rest of her life. The only way it doesn't make sense is if both of us die before 82.

By delaying from full retirement age (66 in my case), I get an increased benefit of 8% per year before inflation adjustment. Therefore I get about 33% more (8% X 4 X compounding) by delaying. Please tell me where you can find a guaranteed 8% inflation adjusted return! This is a terrific deal IF you can afford to delay benefits.
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