Optimizing the initiation of Social Security benefits
DOI:
https://doi.org/10.61190/fsr.v15i4.4868Keywords:
Retirement cash flow, Mortality, Social SecurityAbstract
This research examines the decision couples and individuals face when determining the age at which to begin receiving their Social Security benefits. By comparing a personal required rate of return to the internal rate of return between various retirement ages and various life expectancies, a couple or an individual can better decide when to initiate receipt of Social Security benefits. Early initiation of benefits is the correct course of action for individuals with lower life expectancies. However, delayed initiation of benefits may often be the correct course of action for a single person with a long life expectancy or for a married male who is the higher income-earning spouse.
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