Thu09182014

News

Meet the Mountain View City Council candidates

Meet the Mountain View City Council candidates


Nine candidates have filed to run for three open seats on the Mountain View City Council in the Nov. 4 election – none of them incumbents. The Town Crier asked them to introduce themselves to readers in the following Q&A format. We knew the...

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Schools

LASD committee looks to rank campus improvement projects

LASD committee looks to rank campus improvement projects


Traci Newell/Town Crier
The Los Altos School District’s newly expanded Facilities Advisory Committee met for the first time last week. The 28-member committee’s first task is to prioritize campus improvement projects.

The Los Altos Scho...

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Community

Sports

New-look Lancers find their footing

New-look Lancers find their footing


Ellie Van Houtte/Town Crier
St. Francis High’s Jenna Adams, left, and Carly Deale attempt to bump the ball Friday night. The juniors combined for 28 kills.

This year’s St. Francis High girls volleyball team faintly resembles last season’s squad ...

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Special Sections

MV Whisman teachers cite low pay

MV Whisman teachers cite low pay


Ellie Van Houtte/Town Crier
An estimated 75 supporters of higher teacher pay turned out for the Sept. 4 Mountain View Whisman School District board meeting.

Teachers, trustees and administrators are recovering from a dramatic Mountain View Whism...

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Business

Skin rejuvenation studio joins Rancho

Skin rejuvenation studio joins Rancho


Ellie Van Houtte/Town Crier
Esthetician Marjan Kashi showcases one of the treatment rooms at her new studio, Pure Serenity Skincare at Rancho Shopping Center. Kashi provides services including microdermabrasion and various light and heat energy the...

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Books

A woman's perspective on the Greatest Generation

A woman's perspective on the Greatest Generation


During World War II, Virgilia Short Witzel, a young mother and U.S. Navy officer’s wife, grappled on the home front in Menlo Park with wartime rationing, shortages and loneliness. During the ensuing Cold War, she experienced adventure and misadventur...

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People

JERALD (JERRY) NELSON CHRISTIANSEN

JERALD (JERRY) NELSON CHRISTIANSEN

Resident of San Jose and Los Altos, California

July 21, 1931 to August 4, 2014

Born in Arimo, Idaho, to Jerald Emmett and Rebecca Henderson Nelson Christiansen. Raised in Davis and Riverside, California, with summers in Downey, Idaho, and in Loga...

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Travel

LA photographer spends a night with cranes – and moose – in Alaska

LA photographer spends a night with cranes – and moose – in Alaska


Sandy Powell/Special to the Town Crier
Los Altos resident and bird photographer Sandy Powell recently visited Homer, Alaska, to photograph Sandhill cranes, below. While there, Powell also encountered moose, left.

Los Altos resident Sandy Powell, a...

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Stepping Out

Pear puts on a pair of plays

Pear puts on a pair of plays


J. Smith/Special to the Town Crier
Dan Kapler (as Teddy) and Betsy Kruse Craig (Trish) star in Pear Avenue Theatre’s “House.”

The Pear Avenue Theatre production of two interlocking comedies by Alan Ayckbourn – “House&...

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Spiritual Life

Back to Church Sunday offers opportunity to recommit

The children in Los Altos are back to school, and I can still hear parents cheering. Summer is officially over, even if the calendar doesn’t quite think so.

Parents have attended Back to School nights to meet their children’s teachers. B...

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Magazine

Los Altos Hills home showcases resort-inspired living

Los Altos Hills home showcases resort-inspired living


Courtesy of Spectrum Interior Design
In place of a more traditional fireplace, this modern living room features a linear-flame firebox that emits heat while offering a sculpturelike design element.

After traveling the world and visiting a host...

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Are there benefits to taking Social Security early?

Following is the first in a two-part series exploring the pros and cons of taking early Social Security payments.

I’ve written numerous articles over the years about strategies for maximizing Social Security benefits.

The most fundamental decision all retirees face is when to start taking payments. If you need the money, you may have no choice but to start taking payments as soon as you are eligible. But if that’s not the case, which is better: to start as early as possible and invest the proceeds or to wait and take advantage of higher payments?

It’s important to understand how Social Security payments work. Your Full Retirement Age (FRA), based on your date of birth, is the age at which you can begin collecting what the Social Security Administration calls your Primary Insurance Amount. This is the monthly amount the administration sends you for the rest of your life. The calculation of your Primary Insurance Amount is a bit complicated, but suffice it to say that it is based on your highest 35 years of earned income, adjusted for inflation.

To add to the complexity, the Social Security Administration allows some flexibility. You can choose to begin collecting your benefits at your FRA, as early as age 62 (even earlier in certain circumstances) or as late as age 70. If you choose to start early, you will receive reduced benefits for the rest of your life; if you choose to start later, you will receive expanded benefits (called delayed credits).

For every year you delay after age 62 until FRA, your initial monthly payment increases by 8 percent. The same is true for every year you delay between your FRA and age 70. For example, if you begin collecting benefits at age 62 and your FRA is age 66, your starting payment will be only 75 percent of your Primary Insurance Amount. If you wait until age 70 – the longest you can wait and still receive the 8 percent annual delayed credits – your initial payment will be 32 percent higher than your Primary Insurance Amount.

As you might surmise, the age at which you start can have a significant impact on the total income you receive over your retirement lifetime.

It’s also important to consider two other facts about Social Security benefits: If you start taking benefits before your FRA and you are currently working, your benefits will be reduced; and regardless of your starting age, your payments include cost-of-living adjustments that enable you to keep pace with inflation.

Break-even analysis

If you’re the analytical type, you might approach this question by doing a break-even analysis.

Calculate the age at which you would have accumulated the same total income regardless of whether you start collecting benefits at age 62 or at age 70. If you treat this as a simple mathematical exercise, the answer is age 82. That is, if you plan to die before age 82, it’s better to start your Social Security benefits as early as possible (i.e., at age 62), but if you plan to live longer, you should wait until age 70 to start.

However, such an analysis would be quite incomplete. Assuming that you plan to invest your Social Security income, realistically there are a couple of other factors you need to take into account:

• The return on investment of your Social Security income.

• The inflation rate, which impacts the growth over time of the Social Security payments.

• Your tax rate, which affects not only how much you may keep but also how much of your Social Security income is taxable.

Doug Lemons, retired Social Security Administration deputy assistant regional commissioner, recently completed the above analysis using various return on investment, inflation rate and tax rate assumptions. In part 2 of this series, I’ll share the very interesting conclusion he reached.

Artie Green, a Los Altos resident, is a certified financial planner and professional investment adviser. For more information, call (408) 747-1222.

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