plain talk wrote: “That’s right. It gets rid of some of the tricks people would play. Most people don’t even know about them. Financial planners are always touting them. Has no impact on most people.”
And, like a lot of tricks financial planners tout, they don’t always work out. Like deferring social security until age 70 to get a higher benefit which only works out if you live a very long time. Otherwise, you lose.
Exactly. The actuaries are not morons.
Deferring SS to 70 is not a trick and is a good idea if you really believe you will live into your 80s (not that unusual these days). Of course estimating one’s longevity is a crap shoot. I plan to start collecting mine somewhere between 64 and 66.