How Can I Find My Break-Even Point?

Category: 
Jan 26 2017 - 11:45am

I am single with no option of filing on anyone else's benefits. I would like to retire and collect my SS at 66 (full retirement for me), but still keep working. How can I find the break even point for me so I can decide whether to try and wait until I'm 70 to start collecting? I do have an employer pension fund which I can begin taking at 65, or defer until later.
Thank you.

Hi,

For Larry's thoughts on using break-even analysis to make filing decisions, refer to the following column: http://www.forbes.com/sites/kotlikoff/2015/05/27/social-security-qa-can-.... You should also review the Q & A's in the 'Break Even Analysis' category of the 'Ask Larry Topics' link on the left side of this page.

It's generally advisable to wait until age 70 to start drawing your retirement benefits if you can afford to do so. For a detailed analysis of your filing options, you may want to consider using the maximization software available on this website. That will allow you to run any number of 'what-if' scenarios, which should help to clarify all of your filing options.

Best, Jerry