Respuesta :
A break-even analysis is frequently carried out when deciding when you should apply for Social Security payments in order to assess the outcomes of different filing ages.
What is Social Security?
- The Old-Age, Survivors, and Disability Insurance (OASDI) program, which is managed by the Social Security Administration (SSA), a federal agency, is referred to as "Social Security" in the United States. Although it is most recognized for its retirement benefits, it also offers income for disabled workers and survivor benefits.
When should we file for Social Security?
- Your Social Security benefit is supposed to increase over the course of your life by a certain amount that is periodically adjusted for COLA. You purchase home insurance to protect against unforeseen dangers like fire that you hope won't occur. If the danger materializes, the insurance will cover any damage, replacement costs, or other expenses that you would have incurred.
The issue is that break-even studies are useful for comparing investments, but Social Security is insurance that protects you against living longer than projected rather than an investment. A break-even analysis does not effectively relate to the elements of the coverage because insurance is not an investment.
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