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When to take social security given the current situation.

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  • Mon, Sep 10, 2018 - 04:32pm

    #11
    QQQBall

    QQQBall

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    Tech guy

If you are coreect about SS, then there will be less retirees and no labor shortage. Your thoughts are contradictory

  • Sun, Sep 30, 2018 - 04:13pm

    #12
    acesovereggs

    acesovereggs

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    My 2 cents

For extremely in depth analysis of when to take SS I would suggest reading articles here:

http://www.danielamerman.com/

My personal opinion is benefits won’t be cut (too politically unpalatable) but your check will be able to buy a cup of coffee and a loaf of bread. 

  • Sun, Sep 30, 2018 - 06:19pm   (Reply to #12)

    #13

    Grover

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    Joined: Feb 15 2011

    Posts: 691

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    Good Link

acesovereggs,

Thumbs Up from me! Thanks for posting that link to Daniel Amerman. While reading Amerman’s piece, I kept wanting to copy and paste paragraphs for illustration purposes here. There were simply too many to include. I really enjoyed his entire write-up. Here’s a link to his Social Security article http://www.danielamerman.com/va/BenefitAge.html

My simplistic spreadsheet only considered the total dollars expected to be received at each age of initial benefit acceptance. Amerman used a similar analysis for his initial condition. This is the scenario that main stream media solely reports. It hides a host of chicanery that makes analysis all the murkier. The more issues he incorporated into his analysis, the more advantageous early withdrawal became.

It is impossible to know all the changes that will come down the pike. All we can do is ascertain the conditions, project what changes should be required to overcome our predicted obstacles, and decide the best personal course of action to take. The murkier the crystal ball, the less likely the eventual reality can be predicted. Nonetheless, take your best shot and live with the unexpected consequences.

Grover

  • Sun, Sep 30, 2018 - 08:04pm   (Reply to #12)

    #14
    acesovereggs

    acesovereggs

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    Real inflation

Amerman uses 3% as the inflation rate.  So if a more realistic rate is used (shadowstats), it is even more advantageous to take it early than what he states.  

  • Sun, Sep 30, 2018 - 08:38pm   (Reply to #12)

    #15
    DennisC

    DennisC

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    Ditto from me

I “second” Grover’s comments…thank you for that link as well.  I’ve read a bunch and this seems to be (at least to this dummy) one of the best analyses I’ve seen so far.  Now, if we could just know when the bus is coming as we step off the curb, estate planning would be much easier, right?

https://www.fool.com/retirement/general/2014/09/21/why-smart-people-take

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