No. of Recommendations: 2
<< The value of money is not the total number of dollars received before death.
The value of money is what it can buy at the time you want to buy. >>
We've discussed this in the past. Waiting until age 70 allows you to spend more money at age 62, NOT LESS.
On average, those waiting until age 70 have an extra $100,000 in lifetime income. With a larger, inflation adjusted pension income from age 70 on, you'll need to make smaller portfolio withdrawals to maintain your lifestyle. That means you can spend more money TODAY.
It's astonishing that it's so hard to explain this to people. I guess that's why the actuaries make the big bucks. {{ LOL }}
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