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Category: Retirement Planning * How the Social Security Claiming Decision Affects Portfolio Longevity
VisitHow the Social Security Claiming Decision Affects Portfolio Longevity Popular Last Update: May/25/2012 21:25
An April 2012 Journal of Financial Planning study entitled "How the Social Security Claiming Decision Affects Portfolio Longevity" by William Meyer and William Reichenstein is well worth reading. This study was intended to contribute to the literature on sustainable portfolio withdrawal rates in retirement by adding Social Security retirement payment timing and taxation to the discussion. Particularly, for those who have accumulated a smaller portfolio of investment assets by retirement, Meyer and Reichenstein reached several important conclusions. Regarding longevity of a retirement portfolio, they concluded that the decision to delay receipt of Social Security payments from age 62 to age 70 could lengthen the durability of a retirement portfolio by as much as ten years or more. This means that simply delaying receipt of Social Security payments -- with all other financial factors being equal -- could support an additional decade of expenditures. This addresses perhaps the number one worry of most retirees -- running out of money, if they were to live a very long time.

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