Not just a matter of common cents

The discussion in the locker room was about when to take your social security. Eyes turned to me because I’m always calculating esoteric ratios regarding our workouts, which are usually met with expressions ranging from eye rolling to that of a dog just shown a card trick.

I had already seen the tables and done the math, and didn’t have to noodle it out anymore. The curves intersect in your mid-70s. That is, you get more of your money back if you elect the earlier option and your benefits cease before then (nice way of saying that you croak).

Heads nodded. “But, it’s not that simple.” Groans.

A dollar is worth more today than it will be then, so getting the cash up front is best. True, there have been inflation adjustments, but…

You also should factor in your other income and potential earnings, whether fully retired or not. And, consider how your decision affects your spouse’s benefits. Brows furrowed. Everyone wants the simple, definitive answer.

Mine would be that it’s largely not a dollars and cents issue. In the four or five years of freedom you gain with the early retirement, what experiences do you generate that enhance the quality of your life? That could be 7% or so of your total years on earth. And, years that you have far more energy, mobility, etc. to enjoy things than if you defer to get the higher level of payout. Besides, you could get run over by the proverbial bus tomorrow (or, more likely, some adolescent at the wheel texting, eating and half blinded by a hoodie). Enjoy your one and only life today, while you can. In the end, all you have are your memories.

At last, the looks of bewilderment are replaced with contemplation. I stuff some damp clothing into my gym bag. That evokes another thought in a similar vein.

About every six months , I’ll be carrying the bag and run into some wag who feels compelled to inform me that he doesn’t exercise because you’re wasting part of your life on it that you could be enjoying. He’ll have a few more years than I of real living this way. Good. As long as you’re happy.

But, how are you spending those “extra” years? Propped up on the couch watching “American Idol?” I’d rather be in shape to enjoy an actual life.

It’s more than that. People who are in shape enjoy higher self-esteem, heightened libido, less medical problems and expense and a host of other benefits.

Commons sense says that these decisions aren’t just a matter of common cents.