Wow, you must be an accountant, or else like to waste your time. The point of the post is simply that age 70 in Denmark as a retirement age is not very different than the US.I love it when you lecture us and don't consider all of the factors. May want to read this...
The average life expectancy for an American male is about 76 years, according to recent data. Deciding when to start taking Social Security (SS) benefits depends on factors like your health, financial needs, and whether you’re still working, but we can break it down based on maximizing benefits for the average lifespan.
Break-Even Analysis for Age 76
- Full Retirement Age (FRA): For most people born after 1960, FRA is 67. At FRA, you get your full benefit amount.
- Early Benefits (Age 62): You can start SS at 62, but your benefit is reduced by about 30% compared to FRA. For example, if your FRA benefit is $1,000/month, you’d get ~$700/month at 62.
- Delayed Benefits (Up to Age 70): Waiting past FRA increases your benefit by 8% per year. At 70, your benefit could be ~24% higher than at FRA (e.g., $1,240/month for a $1,000 FRA benefit).
If you live to 76, the total benefits received depend on when you start:
Starting at 62 yields the highest total payout by age 76, assuming average life expectancy. However:
- Start at 62: You get 14 years of payments (168 months). At $700/month, that’s ~$117,600 total.
- Start at FRA (67): You get 9 years of payments (108 months). At $1,000/month, that’s ~$108,000 total.
- Start at 70: You get 6 years of payments (72 months). At $1,240/month, that’s ~$89,280 total.
Key Considerations
- Pros of Starting Early: More cash flow sooner, especially if you need it or have health concerns.
- Cons: Smaller monthly checks for life, and if you work before FRA, earnings above a certain limit ($22,320 in 2025) reduce benefits temporarily.
- Pros of Waiting: Higher monthly payments, which matter more if you live longer than 76 or need to support a spouse.
Recommendation
- Health and Family History: If you’re in poor health or expect a shorter lifespan, starting at 62 maximizes benefits. If you’re healthy and expect to live past 80, waiting until 70 often makes sense (break-even point is typically around 80-82).
- Financial Needs: If you need income now, 62 may be better. If you have savings or other income, delaying could be wiser.
- Spousal Benefits: If married, your choice affects your spouse’s survivor benefits. Delaying increases their potential benefit.
For the average American male lifespan of 76, starting Social Security at 62 generally maximizes total benefits, assuming no major health or financial constraints. However, if you’re healthy, have other income, or want to optimize for a spouse, consider delaying to 67 or 70. Use the SSA’s online tools (ssa.gov) to estimate your specific benefits and run personalized scenarios.
Oh, I get your point. Growing old in office is an out rage, being an imbecile in office is just fine with you.He’s certainly more capable than Biden was. Biden couldn’t sit down for an interview that wasn’t heavily edited. He fell multiple times.
Anyone who isn’t incredibly biased knows Trump is more fit right now than Biden was during his Presidency.
Oh, I get your point. Growing old in office is an out rage, being an imbecile in office is just fine with you.
How do you justify the imbecile in office now that is also the most corrupt President in history. I will hang up and listen.He didn’t grow old in office. He was already elderly and incapable when voted in. People in your party forced that man to work the last 4 years because they didn’t think they had anyone else capable of winning. They watched as he fell off a bike for a staged event, watched as he fell on stage and on steps. Watched him be unable to get through interviews or take questions from the press. Watched him look for a dead person in the crowd and told us it was a mistake anyone would make.
They would have done it for 4 more years had he not looked terrible during the debate.
Anyone else forcing their elderly family member to work so they could maintain influence would be called abusers.
How do you justify the imbecile in office now that is also the most corrupt President in history. I will hang up and listen.
Nice deflection. I am not asking what the Dems think, I asked you. From your refusal, I would say you are OK with the corrupt imbecile.Much like the end of Trump’s term delivered us Biden, the Biden era led us back to Trump.
Dems showed they were incapable and untrustworthy. Again, they have no one to blame but themselves.
Nice deflection. I am not asking what the Dems think, I asked you. From your refusal, I would say you are OK with the corrupt imbecile.
The average life expectancy is 76 years at birth. However, if you are 62 years old, you average life expectancy is 83 years. Your analysis is very sound but you are not using the proper life expectancy numbers. The relevant numbers are your life expectancy at your current age not at birth. They are not the same.I love it when you lecture us and don't consider all of the factors. May want to read this...
The average life expectancy for an American male is about 76 years, according to recent data. Deciding when to start taking Social Security (SS) benefits depends on factors like your health, financial needs, and whether you’re still working, but we can break it down based on maximizing benefits for the average lifespan.
Break-Even Analysis for Age 76
- Full Retirement Age (FRA): For most people born after 1960, FRA is 67. At FRA, you get your full benefit amount.
- Early Benefits (Age 62): You can start SS at 62, but your benefit is reduced by about 30% compared to FRA. For example, if your FRA benefit is $1,000/month, you’d get ~$700/month at 62.
- Delayed Benefits (Up to Age 70): Waiting past FRA increases your benefit by 8% per year. At 70, your benefit could be ~24% higher than at FRA (e.g., $1,240/month for a $1,000 FRA benefit).
If you live to 76, the total benefits received depend on when you start:
Starting at 62 yields the highest total payout by age 76, assuming average life expectancy. However:
- Start at 62: You get 14 years of payments (168 months). At $700/month, that’s ~$117,600 total.
- Start at FRA (67): You get 9 years of payments (108 months). At $1,000/month, that’s ~$108,000 total.
- Start at 70: You get 6 years of payments (72 months). At $1,240/month, that’s ~$89,280 total.
Key Considerations
- Pros of Starting Early: More cash flow sooner, especially if you need it or have health concerns.
- Cons: Smaller monthly checks for life, and if you work before FRA, earnings above a certain limit ($22,320 in 2025) reduce benefits temporarily.
- Pros of Waiting: Higher monthly payments, which matter more if you live longer than 76 or need to support a spouse.
Recommendation
- Health and Family History: If you’re in poor health or expect a shorter lifespan, starting at 62 maximizes benefits. If you’re healthy and expect to live past 80, waiting until 70 often makes sense (break-even point is typically around 80-82).
- Financial Needs: If you need income now, 62 may be better. If you have savings or other income, delaying could be wiser.
- Spousal Benefits: If married, your choice affects your spouse’s survivor benefits. Delaying increases their potential benefit.
For the average American male lifespan of 76, starting Social Security at 62 generally maximizes total benefits, assuming no major health or financial constraints. However, if you’re healthy, have other income, or want to optimize for a spouse, consider delaying to 67 or 70. Use the SSA’s online tools (ssa.gov) to estimate your specific benefits and run personalized scenarios.
That's fair. I also didn't factor in most not trusting SS to be solvent in 15 years.The average life expectancy is 76 years at birth. However, if you are 62 years old, you average life expectancy is 83 years. Your analysis is very sound but you are not using the proper life expectancy numbers. The relevant numbers are your life expectancy at your current age not at birth. They are not the same.
Social Security will be fixed one way or another. It is not a hard fix but it will likely be done at the very last minute. The problem is that the fix becomes more painful the longer you wait.That's fair. I also didn't factor in most not trusting SS to be solvent in 15 years.
Trump has been bringing peace to the world. I am glad to know you think bringing peace is “STUPID”. Rice and the “intelligence” go hand in hand with creating misery around the world.The party of STUPID!
Instead of your dumb comments, perhaps you could actually bless the forum with an occasional, thoughtful post. Joe Biden was mentally unfit for office when he campaigned from his basement in 2020. People on the campaign have stated as much. He didn’t “grow old in office”. You are a sucker for anything The View tells you to believe. If Trump is an embicile, how do you explain the reaction from world leadership, including India and all of the Middle East? Italy, El Salvador, Argentina? Did you know Canada quietly rolled back the majority of their tariffs against the US? I can be sold on Trump being an embicile, if you can come up with some actual facts.Oh, I get your point. Growing old in office is an out rage, being an imbecile in office is just fine with you.
Where is the peace? Gaza ceasefire fell apart , Uk-Russia still red hot.Trump has been bringing peace to the world. I am glad to know you think bringing peace is “STUPID”. Rice and the “intelligence” go hand in hand with creating misery around the world.
That post is patently false. That’s what your idiotic LW media wants you lemmings to believe.The world leaders think he is a clown. The world thinks he is a clown. He is a clown to all but you that are in the cult and get your news from RW media.
Social Security will be fixed one way or another. It is not a hard fix but it will likely be done at the very last minute. The problem is that the fix becomes more painful the longer you wait.
India-Pakistani, the Red Sea (Houthis) for starters.Where is the peace? Gaza ceasefire fell apart , Uk-Russia still red hot.
Where is the peace? Gaza ceasefire fell apart , Uk-Russia still red hot.
Where is the peace? Gaza ceasefire fell apart , Uk-Russia still red hot.
So stop trying? I guess the right answer is don't try to begin with so no one holds you to any high standards.
I'm always amazed that people believe politics is about binary choices.
My Dad was 84 when he passed, sharp as a tack... As Joey's handlers alluded to his cognitive ability !He’s certainly more capable than Biden was. Biden couldn’t sit down for an interview that wasn’t heavily edited. He fell multiple times.
Anyone who isn’t incredibly biased knows Trump is more fit right now than Biden was during his Presidency.
I doubt that Joey ran the White House either...I doubt either of those 2 ran the White House.
Golly gee willakers. I think 2 nuclear powers in Asia were going at it and Trump team got it squared away fairly efficiently. Look up India and Pakistan. What happened with the Houthi’s bombing and attacking shipping? What happened to Hezbollah? Iran has been cornered very quickly. Trump wants to give them a deal and I strongly disagree with that particular approach. Once again you show your grasp of what is happening on the international stage is limited.Where is the peace? Gaza ceasefire fell apart , Uk-Russia still red hot.
Also, it’s not like Trump can physically stop these aggressors who keep fighting…. I mean, without involving our military and nobody wants thatIndia-Pakistani, the Red Sea (Houthis) for starters.
More to do, but Biden and Dems left the world on fire. Trump has already stopped the invasion of the USA and put the Houthis in their place.