If you plan to retire early, you have to make some decisions.

Should I claim Social Security early to pay for my living expenses and defer withdrawing money from other retirement accounts? Or should I wait until full retirement age to claim Social Security, or what? Would it be better to wait until a longer age, say 70? In that case, you will have to withdraw money from other retirement accounts to cover your living expenses.

But what if you decide to delay your Social Security claim and withdraw money from other accounts, say, your retirement investment drops in value and all costs skyrocket?

Sound familiar? it should. Because these plunges and surges are exactly what happens in markets and inflation.

Will your nest egg run out as these worrying trends unfold?

These are the questions JP Morgan Asset Management sought to answer in a recent survey. And this is what I discovered:

Understanding the fine print:What Your Social Security Statement Tells You and What It Doesn’t Tell You

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Life expectancy has increased dramatically since 1990 and should be a factor when considering a Social Security application.

Plans to increase life expectancy

According to Sharon Carson, executive director of Retirement Insights Strategy at JP Morgan Asset Management, life expectancy has increased dramatically since 1990 despite recent declines, but the end point is should be regarded as a midpoint rather than

Given that, you may need to plan for your chances of living longer, especially if you are very healthy and a non-smoker. How long can you live? Check out actuary longevity illustrator.

Social Security card on top of a hundred dollar bill.

See your investment performance

According to Carson, the longer the expected long-term investment return (return on it) gets lower as the investor ages, and the longer the life expectancy, the greater the cost of delaying Social Security benefits. .

So, for example, a woman with a long-term return on investment of 5.5% and a life expectancy of 88 should consider claiming at age 70.

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