Dimitri wrote:
> "fudge" > wrote in message
> .. .
>
>>OOPPPPS, you are Canadian. (Reference to CPP, Canada Pension Plan.
>>
>>"Jim get's his first Oct 1. We won't apply for CPP till he turns 65."
>>
>>DO THE MATH HERE!!!!. You qualify at age 60. You will be a lot better off
>>starting the pension as early as possible. Note that all pension funds will
>>be clawed back by the tax system if you make over 53K/year.
>>
>>Farmer John
>
>
> There is a slight problem with the math and the logic.
>
> Lets say the difference is 51 months (age 66 years & 3 months vs age 62) and the
> difference is $1,000.00 per month. Conventional wisdom is that one will lose
> $51,000 if they wait. Correct so far? The break even point is 51 months past
> their full retirement age or in this example 70 and 6 months old.
>
> The problem is that no one saves the extra $1,000 per month and once the full
> retirement is reached the income only changes with the cost of living.
> Additionally the older one becomes the less one has the ability to augment their
> income.
>
> For me the best seems to be to work as long as possible and to hold off claiming
> as long as possible until full retirement.
>
> Dimitri
>
Yahbut there are no guarantees.
LZ
>
>
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