JnJnKatiebug wrote:
Very easy to do if you know how to use an Excel Spreadsheet. My break even point is age 74 1/2. If you have Excel on your computer send me a PM with your email address and I will send you the spreadsheet.
The difference in age 62 and 66 1/2 for most people will be a break even point after 12 or 13 years. If you plan to live past the age of 75 it will pay you to wait. Life is a gamble.
As a Teamster Stewart for many years it was my job to help with the retirement planning of our members, there were a few choices when retiring and we also used a spread sheet as mentioned above and it worked out to between 74 and 76 so a choice had to made.
Mine was to leave with full retirement from the union at 54 and SS at 62. The 25% that the SS says I would lose was a bit inflated.
As said above "life is a gamble" we also used a chart used by the company that charted the number of retirement checks received after retirement at certain ages.
I took the gamble and it has payed off and I still have that money in my hand for at least another 9 years.
