Quote:
Originally Posted by thekeithfan
Twenty years? Not sure about that, I think it is much less than that. You should see a financial analyst I think you are wrong ... sorry. If it was 20 years no one would wait.
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You are correct. I was doing some rounding which was inaccurate. My benefits from SS show that for each year I wait I get about a 7% increase, or about 21% for waiting 3 years. I currently get approx. $22,000/yr. If I wait 3 more years I would get $4620 more per year, but I would've earned $66,000 in those 3 years for a payback of 14.3 years, not 20 years. But if you count the $66,000 of my own funds that I have not had to use growing at a modest 3% per year, then the payback grows to 15.6 years. So it looks like the payback age is about 76 or 77 years old.