Reply to Social Security Family Benefits and Early Retirement Age

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If you provide more specific info upfront, maybe you could've gotten better responses.[/quote]

I posted general information to help others, and hoped someone had done the complicated benefit calculations in case I overlooked something.

The wrong advice here includes:

[list]
I should not try to get the most money.  
I should only care about annual cash flow after age 70 instead of extra money from age 67-70.
My wife must be 62 to qualify.  No, spouses get benefits if they care for kids under 16, subject to a family maximum (which is binding with two kids).
250k = 10k/year before taxes.  That is only 4%, but mortgage and Baa bond yields exceed 6%.
Quadruple your money in the stock market.  I already invest in the stock market.  Social security is less risky.
[/list]

Let me do an example to help the math-challenged.  The question is whether to take $7k per month for three years, or take an extra $1k per month for life.   With 0% interest, I make more money by waiting if I live for 252 months, i.e., 21 years, i.e., until age 91.  But with an interest rate of 6% per year compounded monthly, accumulated payments from age 67 to age 70 will grow to $275,352.23.  Then I must lift until 95.  Even if I live forever, a 4.45% annual interest rate will generate $1k extra per month.

[/quote]

WTF is wrong with you, you old goat. This is a mommy board, not Bogleheads. Nobody here owes you anything.

Two people gave you advice that was actually pretty decent. You don't even seem to know much about investing and then you go insult people trying to help you. GTFO

[/quote]

*standing golf clap*
[/quote]

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