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.
Posted by: khp3655@yahoo.com
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