John B. Shoven and Sita N. Slavov
Stanford Institute for Economic Policy Research (SIEPR)
http://siepr.stanford.edu/system/files/shared/documents/Efficient_Retirement_Design-March_2013b.pdf
The authors conclude "with today's life expectancies and
today's extremely low interest rates, it is almost to
everyone's interest to delay the commencement of Social
Security. For many people, it is the value maximizing
strategy." The authors also discuss value-maximizing
strategies for when to claim benefits for two-earner
couples, and suggest that individuals consider delaying
commencement of Social Security benefits either by spending
other accumulated assets after retirement and before Social
Security commencement, by continuing to work, or through a
combination of the two. An excellent read for anyone who
has not yet commenced Social Security benefits (or who is
still able to defer their Social Security benefit
commencement date).
Readers are reminded that this website contains a simple spreadsheet that enables retirees to model using
their accumulated savings to "bridge" the period between
retirement and commencement of Social Security
benefits while attempting to maintain constant total
spendable income in real dollars.
