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Non-Tech : Kirk's Market Thoughts
COHR 191.28-0.3%Dec 24 12:59 PM EST
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To: berniel who wrote (12142)10/18/2021 2:22:11 PM
From: w0z2 Recommendations

Recommended By
berniel
Ken Adams

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I retired at age 50 (now almost 77) and only wish I had done it sooner. The decision about which age to take SS is a personal one. In my case I did not need the money since I could live very comfortably, including lots of international travel, from other savings for 20 years before taking the maximum SS at age 70. The skinflint in me just could not resist getting an inflation protected return of 8% a year for 8 years (i.e. age 62 to age 70). Please tell me where else you can find a government guaranteed return like that!

My decision boiled down to a few key issues:

1. Did I need the SS money to live? If you do the choice is simple. In my case I did not need it.
2. What is your life expectancy? If delaying to age 70, the breakeven age between delaying or not is age 82. Since my mother lived to almost 101 and I'm in very good health, I felt like the odds were in my favor of living to at least 82. And BTW, if you are married and your spouse survives you, the increased benefit applies to her as long as she lives. My wife is 3 years younger, boh parents lived into their late 90s so the odds are very good she will get many years of my benefit after I'm gone.

There are a number life expectancy calculators based on health related behaviors. I've done a couple of these which predict I may live to >100. Northwestern Mutual Life had a nice one called The Longevity Game but it's under re-construction at the moment. Here's another which I've used before:

livingto100.com
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