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Reply to "Taking Social Security at 62"
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[quote=Anonymous][quote=Anonymous]Both of us plan to take it at 62 rather than touching TSP/401k. Between 2 pensions and 2 early SS, I think we will have enough.[/quote] For this plan to be advantageous, you have to anticipate a return from your TSP/401k which exceeds the return you are guaranteed to receive for each year you delay taking Social Security. If you delay from age 62 to 70, that translates into an average increase in Social Security benefits of 7.4% per year. If your TSP/401k fails to increase in value by that much or more, you'll end up worse off because you will have permanently reduced Social Security payments and lower later income from the TSP/401k. If your TSP/401k is mostly or all in equities, and you're lucky, perhaps you'll do better than an annual 7.4% return in those accounts. But maybe not, e.g., https://advisors.vanguard.com/insights/article/series/vanguardeconomicandmarketoutlook#global-capital-markets-outlook [/quote]
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