Extending the conclusions of this Meyer and Reichenstein study, Michael Kitces published a May 1, 2012 Advisor Perspectives commentary entitled "The Asymmetric Value of Delaying Social Security Benefits." Kitces’ commentary is also worth reading in its entirety. He summarized his observations this way: "In addition, delaying Social Security not only hedges longevity, it also hedges two other adverse scenarios that are otherwise harmful to the retiree: unexpectedly high inflation and unexpectedly low returns. ... the true value of delaying Social Security is a triple-benefit of hedging longevity, poor returns, and high inflation, because of the asymmetrical way that delayed higher benefits compound in the later years. It won't necessarily win for every client, but as any good hedge would, it wins the most in the times the client will need it the most."