Social Security pushes people to take early retirement. It’s perverse. nytimes.com|By Laurence J. Kotlikoff and Robert C. Pozen

“Wait a minute, you might be thinking: Aren’t my benefits permanently lower if I start collecting Social Security before full retirement age? And don’t I get the maximum level of benefit if I wait until I’m 70 to collect?

Workers who are financially savvy and in good health know this, and many opt to wait. But about two-thirds take their benefits early; 1 to 2 percent wait until age 70, even though the retirement benefit level is a shocking 76 percent higher (after adjusting for inflation) than at 62.”

Social Security pushes people to take early retirement. It’s perverse.
nytimes.com|By Laurence J. Kotlikoff and Robert C. Pozen
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