What Soc Sec won't tell you......from Rico

As many of my generational cohort (yes, sigh, Boomers) approach retirement, they have some decisions to make...choices, and they cannot count on Uncle Sammy's kids to be at all helpful in the matter.

Let's look at Social Security (SS) for one example, and consider one of the many things they will NOT tell you.
- Some financial advisors, and implicitly SS itself, suggest that the 'longer you wait' to collect benefits the higher your payout will be. While technically true, it's not the whole story and the concept of a 'breakeven point' never seems to come up.
- The actuarial 'odds' when you are betting against death are bad, and when you consider longevity it's better to claim early. Woody Allen's advice ("take the money and run") is actually pretty good in this case. While waiting to claim reduces the front-end cost to the Government/SS, the real 'odds' are that you will 'lose' your bet eventually and collect less or nothing at all if you wait. Good for Government (it gets to keep your money), bad for you (you don't collect your money). You just never 'know' when your bell will ring, but it will one day.

So, this may be a big "surprise" to anyone who mistakenly thinks that Government will look after them. It does not, and it won't. You're on your own Sparky, Government's Job#1 is to look after itself, not you.