Kirk's Market Thoughts Message Board

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Non-Tech : Kirk's Market Thoughts

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To: Kirk © who wrote (12103)	10/11/2021 1:54:17 PM
From: w0z	Read Replies (3) of 26834

I'm glad I delayed taking SS for the 8% per year and didn't take your advice to buy BP and reinvest the dividends instead... It's not just the +32% increase if you delay 4 years to age 70, but (like all SS payments) it's also COLA-adjusted annually for inflation! One can argue over whether the annual adjustments accurately track inflation but I don't think it's too far off, especially if you own your home, drive/travel less as you age, spend less on useless junk (since you probably already have one), etc. In my case SS pays for 100% of our basic living costs and it allows me to be more aggressive with other investments (e.g. a cryptocurrency which has done a 75X so far and is low-7 figures in 3 years). I'm now 76 and I calculated my SS should breakeven at age 82 between delaying or not. Since I'm in excellent health and my mother lived to almost 101, I believe delaying was one of the better financial decisions I've made. P.S. I realize Jerome was speaking about taking SS early rather than late. Taking it at 70 vs 62 gives you a +64% higher income (and this is before inflation because of annual COLA adjustments). P.P.S. Just to clarify...age 62 = 68%, age 66 = 100% (Full Retirement Age) and age 70 = 132% (percentages are before COLA adjustments).

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