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<blockquote data-quote="35years" data-source="post: 2563655" data-attributes="member: 60822"><p>Except you will likely be earning $90,000 a year for those 3 years if you retire at 60 rather than 57. That is $270,000.</p><p></p><p>Lets do the math...correct me if I mess up:</p><p>A non-smoking male at 60 in the USA now has a life expectancy of 24.19 years (290 months).</p><p>-----------------------------------------------------------------------</p><p><strong>Retire at 57</strong></p><p>$3735 x 326=</p><p>Total = $1,217,610</p><p></p><p>Unless you work another job after retiring you also have consider how much you have to pay for health insurance until Medicare kicks in.</p><p>Depending on your Local that could be $0 or $200 a month or higher. Lets go with $200 a month for 3 years;</p><p>$200 x 36 = $7,200</p><p>$1,217,610 - $7,200 =</p><p><span style="color: #660000"> <strong>$1,210,410 Total</strong></span></p><p>------------------------------------------------------------------------</p><p><strong>Retire at 60</strong></p><p>$270,000 in earnings from age 57 to 60 plus:</p><p>$4759 x 290= $1,380,110</p><p><span style="color: #660000"><strong>Total= 1,650,110</strong></span></p><p></p><p>-------------------------------------------------------------------------</p><p> $1,650,110 age 60</p><p><u>-$1,210,410 age 57</u></p><p><span style="font-size: 18px">=<strong>$439,700</strong> </span></p><p>Also you will be receiving a greater share of that money earlier by working those 3 years ($270K vs $134K age 57-60) so you will have the opportunity to earn more interest.</p></blockquote><p></p>
[QUOTE="35years, post: 2563655, member: 60822"] Except you will likely be earning $90,000 a year for those 3 years if you retire at 60 rather than 57. That is $270,000. Lets do the math...correct me if I mess up: A non-smoking male at 60 in the USA now has a life expectancy of 24.19 years (290 months). ----------------------------------------------------------------------- [B]Retire at 57[/B] $3735 x 326= Total = $1,217,610 Unless you work another job after retiring you also have consider how much you have to pay for health insurance until Medicare kicks in. Depending on your Local that could be $0 or $200 a month or higher. Lets go with $200 a month for 3 years; $200 x 36 = $7,200 $1,217,610 - $7,200 = [COLOR=#660000] [B]$1,210,410 Total[/B][/COLOR] ------------------------------------------------------------------------ [B]Retire at 60[/B] $270,000 in earnings from age 57 to 60 plus: $4759 x 290= $1,380,110 [COLOR=#660000][B]Total= 1,650,110[/B][/COLOR] ------------------------------------------------------------------------- $1,650,110 age 60 [U]-$1,210,410 age 57[/U] [SIZE=5]=[B]$439,700[/B] [/SIZE] Also you will be receiving a greater share of that money earlier by working those 3 years ($270K vs $134K age 57-60) so you will have the opportunity to earn more interest. [/QUOTE]
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