"Deciding When to Claim Social Security with a Large Pension"

A retiree with a substantial pension and investment portfolio is considering whether to claim Social Security at Full Retirement Age (FRA) or delay until age 70 to increase benefits. The retiree is in a strong financial position with no debt and a healthy income from part-time work. A break-even analysis suggests it would take 12.5 years to recoup the benefits if delayed until 70. Factors to consider include the guaranteed nature of Social Security as inflation-protected income, potential survivor benefits for the spouse, and the growth of retirement accounts if untouched. The retiree is advised to explore various retirement income scenarios, consider tax implications, and possibly adjust asset allocation to balance growth and risk, potentially with the help of a financial planner.