Pension and Social Security start year modeling

[wscott]

Some people have a pension with a sliding scale where they can enable it on different years where the longer they wait the larger the yearly payout. Similarly, Social Security has a sliding scale. It can be started as early as age 62 or benefits can be delayed until age 70 for a larger payout.

An example of this is the following discussion on the MMM forums.

It would be good if this tool would examine the options a select the best option for a user.

[wscott]

The problem here is that the main variable for this decision is how long you expect to live.