Any reasoned decision is likely a good one. This was well reasoned, so don't second-guess yourself! My only quibble is with the ever-present use of the term "full retirement age." I know that it's in the statute, but it's pretty meaningless. A person can claim anywhere along the line from 62 to 70 with correlating benefit amounts. There's just nothing significant about the FRA number. As other HD writers have noted, it gives a false impression that the average / typical / smart person should stop work at 66ish. That's plain misleading. And confusing, when you consider the different (and more meaningful) age parameters for Medicare (65) and RMDs (72).
First world issues here - pay for biz class instead of waiting for an upgrade earned by other travel? Buy a disabled kid a house free and clear? Sure, generosity and grace from the super-prosperous is to be encouraged. But I agree with Richard Quinn below. This is not the circumstance of the typical American retiree. Nor is it representative of the typical reader of this website, I suspect. I value Prof. Statman's published scholarly work a great deal. This article reads much more like a HumbleBrag than a practical piece of HumbleDollar advice.
I’m so proud to have maxed out my 401(k) / TSP (federal employee version) contributions over the years. Set it and forget it, combined with low cost indexing. In passive hindsight, it’s been the best type of investing. My younger version might have wanted to tinker or pay an outside professional to do the same tasks. I see little upside now.
Quality craft beer. Yes, it’s probably double the price of bland beer like Bud or Coors. But those brands have virtually no taste or quality. Neighborhood craft brewers can provide quality beer - and perhaps entertainment - at modestly higher prices.
Comments:
Any reasoned decision is likely a good one. This was well reasoned, so don't second-guess yourself! My only quibble is with the ever-present use of the term "full retirement age." I know that it's in the statute, but it's pretty meaningless. A person can claim anywhere along the line from 62 to 70 with correlating benefit amounts. There's just nothing significant about the FRA number. As other HD writers have noted, it gives a false impression that the average / typical / smart person should stop work at 66ish. That's plain misleading. And confusing, when you consider the different (and more meaningful) age parameters for Medicare (65) and RMDs (72).
Post: Ten Reasons to Claim
Link to comment from September 13, 2022
First world issues here - pay for biz class instead of waiting for an upgrade earned by other travel? Buy a disabled kid a house free and clear? Sure, generosity and grace from the super-prosperous is to be encouraged. But I agree with Richard Quinn below. This is not the circumstance of the typical American retiree. Nor is it representative of the typical reader of this website, I suspect. I value Prof. Statman's published scholarly work a great deal. This article reads much more like a HumbleBrag than a practical piece of HumbleDollar advice.
Post: Retire Those Fears
Link to comment from February 9, 2022
I’m so proud to have maxed out my 401(k) / TSP (federal employee version) contributions over the years. Set it and forget it, combined with low cost indexing. In passive hindsight, it’s been the best type of investing. My younger version might have wanted to tinker or pay an outside professional to do the same tasks. I see little upside now.
Post: How has your financial thinking changed over the past year?
Link to comment from March 28, 2021
Quality craft beer. Yes, it’s probably double the price of bland beer like Bud or Coors. But those brands have virtually no taste or quality. Neighborhood craft brewers can provide quality beer - and perhaps entertainment - at modestly higher prices.
Post: What everyday purchase do you consider a bargain?
Link to comment from March 28, 2021