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[quote=Anonymous][quote=Anonymous][quote=Anonymous][/quote]

Very, very few people wait until age 70 to claim their pensions. Not saying that’s right, but it’s a fact. In fact, if your family dies young and your health isn’t great, it would be dumb to wait until age 70 if you want to maximize lifetime pension income.

So these calcs should look at a longer payment stream, from say age 65, and the discounting would start at a younger age.

10% is way too high a discount rate in this current interest rate environment.[/quote]

Many of those who retire at 65 have a spouse who also has income and savings, and who also wants to retire.  I don't have such a spouse, so I will work until I am very old.

I work with several older people who are still working full-time, and they are in their 70s.  I have many family members who worked until 70-75 and many of them lived into their mid and late 90s.

I also presented the calculations with a 3 percent discount rate.  What other discount rates would you like? 
[/quote]

Anecdata about your coworkers doesn’t help us understand the population. The fact is that over half of people retire and claim Social Security by around 63 or 64, and a large percentage is retired by 65 or 66.

The 3% discount rate is OK. But you end up citing the $9k figure that results from the 10% discount rate, and that’s irrelevant in this interest rate environment.[/quote]

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