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[quote=Anonymous][quote=Anonymous][quote=Anonymous]It's generally a bad idea to take SS before age 70 unless you are quite confident you are not going to live a long time.

First, the value of your payments grows by 8% annually for every year you delay past your Full Retirement Age.  That increase is guaranteed.  It is very difficult to find investments which are guaranteed to grow by 8% annually.

Secondly, it is a form of longevity insurance.  By maximizing your payments, you'll receive more money over your lifetime if you exceed your actuarially probable lifespan, which many educated, healthy middle and upper class people do.  Claiming early guarantees lower payments for your lifetime.  Yes, if your lifespan is shorter, you will have collected less money monthly but will have started sooner and so may come out ahead.  On the other hand, if you live longer, your larger monthly payments will remain larger for as long as you do live, even if you become a centenarian, and you will end up with much more by the end of your life than you would have if you claimed before your FRA.    [/quote]

You are ignoring the fact that SS is going broke and the bill just passed makes it worse .  There is no guarantee on the 8% will stay.[/quote] How does the bill make it worse ? Seniors 65+ got an increase in their standard deduction for Federal income tax purposes, which was not going to fund SS benefits.

Try not to make political, I am genuinely interested in the “mechanics” of why people think BBB speeds up exhaustion of the SS trust fund, which currently holds 2.7 T in US treasuries, and was funded by excess FICA taxes only.[/quote]

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