PT  - JOURNAL ARTICLE
AU  - Stephen M Horan
TI  - Strategies for Maximizing Social Security Benefits: <em>A Reply</em>
AID  - 10.3905/jwm.2009.12.3.009
DP  - 2009 Oct 31
TA  - The Journal of Wealth Management
PG  - 9--12
VI  - 12
IP  - 3
4099  - https://pm-research.com/content/12/3/9.short
4100  - https://pm-research.com/content/12/3/9.full
AB  - Atkins and Caliendo [2009] analyze the choice of when to optimally initiate the receipt of Social Security benefits. They assume an individual choosing to receive benefits early can invest the proceeds at a return greater than the risk-free rate. This reply argues that the present value of Social Security benefits should be discounted using the risk-free rate instead. This insight is drawn from the extant wealth management literature as well as the asset-liability management framework of defined-benefit pension plans.TOPIC: Social security