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Essay / Research Paper Abstract
A 3 page summary and analysis of Atkins and Bain's 2010 article on when to initiate social security benefits, which is a complex issue. No other sources cited.
Page Count:
3 pages (~225 words per page)
File: KL9_khssbenef.rtf
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Unformatted sample text from the term paper:
employee. The authors describe the factors involved, and offer practical guidelines that a human resource manager, as well as others addressing this issue, such as CPAs, can pass on to
retiring employees and those nearing retirement age. As the immense Baby Boomer generation nears retirement, they are concerned about their Social Security benefits and anticipate these benefits playing a
larger role in their retirement due to the state of the economy. If clients decide to commence Social Security benefits prior to the age associated with full retirement benefits, they
receive less. This age varies according to when the client was born. For people born between 1943 and 1954, full retirement benefits are available at age 66, but benefits
can be accessed beginning at age 62. However, benefits are the younger age are 26 percent less, and, if the retiree waits till age 70 to access benefits, they are
34 percent greater than at age 66. This is a significant difference and the authors offer advice on how to go about making this decision. This analysis considers the
health, as well as anticipated life expectancy, and the personal situation of the client, that is, issues such as whether or not the individual has savings. Atkins and Bain describe
the governments benefits calculator, which is available online, but argue that its breakeven calculation is erroneous because it assumes that the return on an investment will only equal the rate
of inflation. If an individual invests in a manner that result in a return that is higher than zero, then the governments calculation is inaccurate, as well as misleading. The
authors then provide a comprehensive analysis that considers the returns from investing social security benefits, which takes into account different life expectancies as well as varying rates of return. The
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