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[–] crmartel ago 

sure thing, noseberg

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[–] Thisismyvoatusername 0 points 3 points (+3|-0) ago 

I have serious doubts they actually even had the data to actually determine the optimal point in a way that can be generally extrapolated even with a study pool of 2,024 people. I also don't see any indication they included any consideration of the time value of money in their calculations.

Some percentage of people will always choose the wrong time to start even if everyone did a full analysis before deciding. People die early unexpectedly. People live longer than expected. People make bad assumptions on inflation, market returns, casualty losses, etc. This article uses a study with the benefit of hindsight for the participants included in it. Having no crystal balls, the rest of are not so fortunate.

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[–] irregularverb ago 

Early retirement is at 62. Late retirement is at 70. I figure that waiting until 70 only pays off if you live until 80. This is because by NOT retiring at 62 you are missing out on 8 years of payments (albeit "reduced"). By waiting, it will take almost a decade to make up for those missed payments. So you have to ask yourself would you rather have some extra money at 62 when you may still have some spark in your life or would you prefer to wait until you are knocking of death's door. Either way is a gamble. I lean towards taking my money back from the government as soon as possible. Bottom line we all better figure out a way to fund our retirements besides social security.