Even the unhealthy group reduced their likelihood of dying by 9% if they delayed retirement.
The book, now in its ninth printing, explains early benefit reductions, delayed retirement credits, and divorcee spousal benefits.
If you wait until age 70 to start collecting, you receive delayed retirement credits that further increase your monthly payment.
Despite their reservations, they didn't try to stop me, and my mother delayed retirement to help support me.
The labor force is continuing to grow over all, in part because many of the boomers have delayed retirement.
We use a government accounting model that allows for both substitution across government programs and for spillovers from delayed retirement onto other incumbent workers.
In our 2009 book, "Reconsidering Retirement," we show that retirement rates began falling in 1994 as workers delayed retirement in response to changes in Social Security and pensions.
Retirees wouldn't receive fewer Social Security benefits, on average, because their annual benefit would increase with each year they delayed retirement.
Health care coverage and costs are the most cited reasons for delayed retirement, especially among older workers, according to Towers Watson, a benefits consultant.
It looks as if you can expect one of four things for your lifetime of labor: higher taxes on your retirement savings; higher taxes on your earnings, if you have any; lower retirement benefits; or delayed retirement.
If you are over full retirement age but not yet 70, you can voluntarily suspend Social Security to earn delayed retirement credits, where you basically earn extra credit (and a higher check later) for each month you don't collect benefits.
