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The longevity question: Retirement’s most impactful unknown
April 7, 2023
In our wealth planning discussions with clients, there’s an old and somewhat morbid joke that comes up when helping them with the vexing question on when to claim their Social Security benefits: “If you tell me the exact date of your death, I’ll tell you exactly when to claim your Social Security!” Of course, the exact dates of death are unknowable, which is part of the not-so-funny joke. But the joke is intended to illustrate just how difficult it is to pinpoint an optimized strategy when one of the driving variables is unknowable.