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And it’s guaranteed, at least as much as anything coming from our government is (and maybe more considering this is the most popular program in the government.) So what is that return? Even then, many investment authorities are arguing for relatively low stock returns in the next decade given our current low yields or high valuations.Now my crystal ball is always cloudy, but my point is that you’re going to have to do pretty well investing to come out ahead taking SS at 62 in order to invest it.To put this in real numbers, I will use what the Social Security Administration says my benefits are estimated to be for my own retirement. With the option of investing the money, only one-fifth of the men and one-third of the women will live long enough to do better by waiting until they reach age 70 to begin their investing if they average a 6% return. These cruises will occur during the best years of Dr.They estimated that I will receive

And it’s guaranteed, at least as much as anything coming from our government is (and maybe more considering this is the most popular program in the government.) So what is that return? Even then, many investment authorities are arguing for relatively low stock returns in the next decade given our current low yields or high valuations.Now my crystal ball is always cloudy, but my point is that you’re going to have to do pretty well investing to come out ahead taking SS at 62 in order to invest it.To put this in real numbers, I will use what the Social Security Administration says my benefits are estimated to be for my own retirement. With the option of investing the money, only one-fifth of the men and one-third of the women will live long enough to do better by waiting until they reach age 70 to begin their investing if they average a 6% return. These cruises will occur during the best years of Dr.They estimated that I will receive $1,868 a month ($22,416/year) if I begin my withdrawal at age 62, or $3,511 a month ($42,132/year) if I wait until age 70. 62 will begin compounding his investment returns eight years before Dr. 70 will get to make a larger investment each year when he starts. 62’s retirement, before his health/stamina begins to decline and he might lose the ability to travel.Probably not that much, especially during your 60s- the decade when sequence of returns risk is highest.There’s a reason most unbiased personal finance and investing gurus recommend delaying Social Security to 70 if possible- because it’s the right move for almost everyone. Fawcett finds himself on the opposite side of this argument from: Mike Piper, Wade Pfau, Jane Bryant Quinn, Jonathan Clements, Paul Solman, Jason Zweig, William Bernstein, James Lange, Zvi Bodie to name a few. Fawcett’s argument is that taking Social Security early allows you to not tap your retirement accounts allowing that money to continue to compound in a tax-protected manner for another 8 years.

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And it’s guaranteed, at least as much as anything coming from our government is (and maybe more considering this is the most popular program in the government.) So what is that return? Even then, many investment authorities are arguing for relatively low stock returns in the next decade given our current low yields or high valuations.

Now my crystal ball is always cloudy, but my point is that you’re going to have to do pretty well investing to come out ahead taking SS at 62 in order to invest it.

To put this in real numbers, I will use what the Social Security Administration says my benefits are estimated to be for my own retirement. With the option of investing the money, only one-fifth of the men and one-third of the women will live long enough to do better by waiting until they reach age 70 to begin their investing if they average a 6% return. These cruises will occur during the best years of Dr.

,868 a month (,416/year) if I begin my withdrawal at age 62, or ,511 a month (,132/year) if I wait until age 70. 62 will begin compounding his investment returns eight years before Dr. 70 will get to make a larger investment each year when he starts. 62’s retirement, before his health/stamina begins to decline and he might lose the ability to travel.Probably not that much, especially during your 60s- the decade when sequence of returns risk is highest.There’s a reason most unbiased personal finance and investing gurus recommend delaying Social Security to 70 if possible- because it’s the right move for almost everyone. Fawcett finds himself on the opposite side of this argument from: Mike Piper, Wade Pfau, Jane Bryant Quinn, Jonathan Clements, Paul Solman, Jason Zweig, William Bernstein, James Lange, Zvi Bodie to name a few. Fawcett’s argument is that taking Social Security early allows you to not tap your retirement accounts allowing that money to continue to compound in a tax-protected manner for another 8 years.

Now that’s not an 8% return on your money since you are giving up a year’s worth of payments in order to get that higher payment, but it’s not a 0% return either. Know anywhere else you can make a guaranteed return of 3% real? 20-year TIPS are yielding 0.8% real as I write this. If you’re taking Social Security early because you want to maximize your returns, you’d better not be investing any money in bonds or CDs.

Taking the money at age 62 and using it while you can is the guaranteed choice. If you will not be doing any Roth conversions, then disregard that advice as not pertaining to you.

If you will not be investing the money, then don’t use it as one of your points to consider.

The chart for these calculations can be found on page 169 in my book “The Doctors Guide to Smart Career Alternatives and Retirement,” where I discuss this issue at greater length. Note that the above example overestimates the benefits Dr. The Social Security Administration makes the assumption that Dr. After paying 25% income tax on it, he will be left with ,812 to spend. 62 can purchase seven one week cruises to the following places: Mexico, Alaska, Eastern Caribbean, Western Caribbean, Southern Caribbean, Mediterranean and Australia. 62 will get eight extra years of fun for a total of 72 cruises before Dr.

We can spend our social security money to avoid taking money out of our protected plans (401(k), IRA, Deferred Compensation….) and thus get an effective return equal to our retirement portfolio. 70 will work and continue to contribute to Social Security right up until age 70. 70 will not be working between the ages of 62 and 70, he will likely have a lower benefit and take even longer to catch up with Dr. I think this is what most people will do with the money, myself included. 70 will begin having fun with his money, unless one of them is in the 13% who don’t live to age 70.

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