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Rather than look at the NPV, look at SS as earned income replacement. Maximize your earned income replacement via pension, SS, immediate annuity and investment earnings.
Under the current process SS benefits go up by 8% per year making it a very good investment, when delayed. If you delay until the end you will be maximizing your monthly SS income and have replaced a greater portion of your earned income. This may or may not be the maximum value. That will depend on how long you live. - if you happen to out live the averages -this could be the winning strategy.
This also gives a method of actually planning the use of your other assets. A portion of them can be dedicated to providing incremental income until SS starts. It may even make sense to use an immediate annuity to convert a portion of your assets into a specific income stream for a period certain - I.e. the number of years between retirement and age 70 social security starting.
The benefit of each of these steps is it may allow you to be more comfortable with a more aggressive investment portfolio as you have bought a significant amount of time with a known outcome, this may increase overall long term net worth for estate planning purposes. If nothing else it may allow you to sleep with less worrying about the investment markets and their impact on your future lifestyle.
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8 Porsche's to date, after many years of looking 1999 C2 Cab, Ocean Blue over tan Leather.
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