“4. Delay taking Social Security”
That only pays off if you live long enough.
Of course they know that. These are invesment people. They want you to remain in the workforce and keep investing - hopefully with them.
Also, as the average person getting $8k yr from their nest egg after retirement: If it were true, I don’t think that’s that hideous. In a two wage earner family you’re probably looking at $2k + / month in SS benefits. So that’s $24 k / yr right there, plus the $8k gives you $32k / yr.
Hopefully byt that point in life you don’t have any more payments to make, etc.
Granted, not the high life, but not starvation either.
I think the typical breakeven point on age 62 vs 66 is age 78 or so.
Unfortunately the govt terminated the "restart" provision on Friday. I had planned to use this if I got to age 69 and remained healthy.
http://finance.yahoo.com/focus-retirement/article/111550/social-security-payback-option-eliminated?mod=fidelity-managingwealth&cat=fidelity_2010_managing_wealth
My late pastor retired at 65, died of a massive heart attack before he drew his first check. Take it at 62 and enjoy your life.
most of us don't go flying around the world...most of us want enough money to visit children and grandchildren, to help them out, to eat out once in a while and maybe take a vacation or two every year...