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Another word for you dont2/11/2023 However, nowadays it is a good idea to delay the start of benefits until at least your full retirement age in order to maximize your lifetime payout. Side Note: Historically it did make sense to start collecting Social Security as early as possible. If you “retire” in your sixties, you have 20-30 or more years to fill. That is too much time for withdrawing. However, it just doesn’t mean what we experience now. Historically, the word retirement made sense. And that trend is expected to continue unabated. Much longer! And, the percentage of the workforce representing workers over 65 has doubled since 1992. Today, average life expectancy is just under 80 years and many of us live longer. Most people died before they even started to collect Social Security. At that time, the average life expectancy was 61! Yes. When Social Security was first enacted in 1935, the age of retirement was set at 65.
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