How to Finance Life Until 100

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maryland should give people 65 years or older a property tax break , and also on their income tax also times are very difficult to live when there is only one person receiving a pension and social security in that household, with food prices going up each and everyday gasoline going up in price also and taxes this is bad for retirees government should look into this and start helping these people instead of help other countries look after the elderly.

joe of MD 5:12PM June 23, 2012

retirement

Jackie of TX 2:37PM March 20, 2012

To me simply, retirement is something to work for...it is the benefit. I will not sell my life anymore. BS - work for your happiness --- yes comrad, you can, and to get yourself more happiness, why don't you work for me too?
Thanks.
Some things in this are simply perpetuating financial stupidity!
Take your benefit at age 66. Take your benefit at age 70. Whats the difference? Say 10K a year (fairly common to be in that range).
So one gives up receiving 40K for sure (because if they live to age 70, which the example makes absolute) they would have received that. (And say if they died at age 70, they & their estate never would have gotten that 40K).
Say one lives to age 85. Payments started at age 70. 15 years extra 10K payments equal an extra 150K in total, much of which is much later. Cost you 40 K, earlier. If you consider the time value of money and take the 40K in savings/investment, discounting the 150K for the decades to receive it, the difference, (while still probably better for the age 70 in absolute), is just not that great. And the downside loss, is absolute and severe. Possible an entire loss.

Jeffrey Heller of NJ 10:09PM March 19, 2012

Agree that the 80% figure was dumb............already retired and know that everything changes..(.lower living expenses)
the 4% rule for withdrawal from retirement funds is great.

C.remus of FL 11:30AM March 07, 2012