Re: [TSP_Strategy] Re: Best Bet on Social Security

 

The numbers you list seem atypical and not attainable. Someone retiring at 62 in 2017 has a maximum monthly annuity of $2,153.  Five years later that 

would amass to $129180. Reduce the 75% taxable by an expected tax impact around 35% and you are left with around $95000, which is considerably less than your number and represents a typical maximum for someone with maximum SS benefit.  More normal SS earnings would be lower and some would have less or more tax impact depending on other income and state aspects. 

That said I took at SS 62 and am very glad I did. My life expectancy is lower than average and I am also fortunate to be in the last cohort (based on spouse's age) that can take advantage of wife taking 50% spousal benefit at FRA whilst delaying her earned benefit until 70 when it will have increased 25%.

On Fri, Dec 16, 2016 at 8:13 AM, khp3655@yahoo.com [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:

 

I've done some rough calculations and not matter when you take SS the amount you get from the government converges at age 78. I am certain that matches up with life expectancy. After 78, the longer you waited, the more total money you will get. And the earlier you took it, the faster you fall behind.

One fly in the ointment is that most people don't have a lot of needs as they move into their 80s, so getting more SS per month may not matter so much by then.

The other factor is that when taking funds early, some/all of funds can be kept and invested instead of spent. THis creates an asset instread of an entitlement. In theory a typical someone at 62 could have around $130000 to invest in an annuity at age 67 by not waiting. That annuity could pay up to $1000 per month at today's returns. Or at 4% interest in dividend stocks, it would spit out $425 per month in yield and you retain an asset.

I am not saying anyone should do this but the numbers are real.

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Posted by: Ralph Architzel <rarch71@gmail.com>

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