Quote:
Originally Posted by thistrucksforyou
I was looking at the difference on my SS account statement ...I have a 437.00 difference between age 62 and age 66....That could make a huge difference later in life...
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What I think you might not be considering is the annual increase you receive (except for 2010 and 2011). For example in my case I received an increase of $90 COLA a month this year, if for the each of the next 3 years I receive an additional $90 a month COLA the difference between age 62 and 66 would be $77 not $437. This of course is based on my numbers not yours, but I think most calculators and the SSA don't take in to account COLA when figuring breakeven. If you do take this into account most people would be dead for years before they ever reached breakeven. In my case in those 4 years I collect $100,000 from SSA in my case it would take about 80 additional years of life to hit breakeven. i doubt I will live to 142 so I'm not waiting. Also I will have my hands on the 100K to invest the way I see fit