Break Even Calculation for Social Security Hi, I\'m trying to get a formula that
ID: 3560559 • Letter: B
Question
Break Even Calculation for Social Security
Hi, I'm trying to get a formula that will give me a breakeven for social security. Basically if you start at 62 you get less for longer or start later (66, 70) you get more but for less time.
The following is an example - Assume the formula would be in cell a1 and the table is in cells a2:d15, headings in the first row:
- SS at age 62 - 1000/mo
- SS at age 66 - 1600/mo
Age
Year
Cumulative 62
Cumulative 66
62
2000
12000
63
2001
24000
64
2002
36000
65
2003
48000
66
2004
60000
19200
67
2005
72000
38400
68
2006
84000
57600
69
2007
96000
76800
70
2008
108000
96000
71
2009
120000
115200
72
2010
132000
134400
73
2011
144000
153600
74
2012
156000
172800
So in this example I would like a formula that will indicate that breakeven for taking ss at age 66 is 2010 at age 72.
I have a table similar to the one above but can also use a formula that would produce the breakeven age and year only referencing the monthly amounts.
Thanks for your help!
Age
Year
Cumulative 62
Cumulative 66
62
2000
12000
63
2001
24000
64
2002
36000
65
2003
48000
66
2004
60000
19200
67
2005
72000
38400
68
2006
84000
57600
69
2007
96000
76800
70
2008
108000
96000
71
2009
120000
115200
72
2010
132000
134400
73
2011
144000
153600
74
2012
156000
172800
Explanation / Answer
%&^$*( Enter this formula in cell A1
=INDEX($A$3:$A$15,MATCH(TRUE,INDEX((D3:D15>=C3:C15),,),0),1)
Alternatively, array-enter
(press ctrl+shift+Enter instead of just Enter) one or both of the following formulas:
1. To return year (2010): =INDEX(B3:B15,MATCH(TRUE,D3:D15>=C3:C15,0))
2. To return age (72): =INDEX(A3:A15,MATCH(TRUE,D3:D15>=C3:C15,0))
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