Originally Posted by BelgoSuisse
Do you know about ICM?
you should cashout any chip whose marginal $ value according to ICM is smaller than its cashout value. Precise computation depends on the payout structure of the tournament. You should play around with an ICM calculator to get a better idea. Essentially, if the payout is very top-heavy, it's likely that cashing out is -EV all along. If it's very flat, cashing out can become +EV in many more cases.
I dont know how it works in the live version, but in the cashout tourneys online the best strategy is to never cashout, even if you have almost all chips in play.
The reason is that you will get the cashout value of your chips handed to you for free as soon as the final table bubble bursts.