Soc Sec info page

[ceagle]

A very good page I found about strategies regarding when to take Social Security, particularly the graph in the middle.

https://www.schwab.com/resource-center/insights/content/when-should-you-take-social-security

Note that the line crossovers are in the range of between 79 and 84 .. in other words, if you expect to live about that long, you might consider taking them earlier.. but if you expect to live past 84, taking benefits starting at at 70 means an exponential increase in overall benefits (see around age 95 it's about a full 30% more, and still growing), whereas the overall lifetime benefits have a much slower incline after age 79 if you file for benefits earlier.

Comments

[sabotlours.livejournal.com]

I've done the math on a spreadsheet to see what would be the optimal time. I plan on taking it as soon as I'm eligible. I figure that even if I don't need the money, I can invest it in something that will pay better than the gov't.

[mondhasen.livejournal.com]

Thanks for the info :o)