Just joined the ranks of "official geezers....."

[JDgreen227]

Filed for Social Security benefits online two hours ago, I will hit the mark of 62 years old in 3 months. The positive side of things is, I don't FEEL anywhere near that age most mornings.

Did one final recalculation of collecting benefits at age 62 versus my full retirement age of 66, and I can collect an additional $427 per month if I wait four more years. The downside of waiting the additional 48 months is that I can collect enough benefits from ages 62 to 66 that it would take me until the age of 78 to catch up if I wait for my full retirement age to collect...since most males in my family history never make it to 70, it was a no-brainer.

One more thing...according to my earnings statement from SS, at the rate of my proposed benefit payout to begin in September, it will take me less than 3 1/4 years to "earn back" everything I paid into SS over a 36 year period...no wonder the system is having financial problems.

Disclaimer: The above information does NOT take into account any factors such as cost of living increases, changes in the laws regarding Social Security, etc, and any risks you take should you use and apply this thread as "financial advice" are just those: Your risks....:laughing:

 

[riptides]

Congrats!

Well after 36 years of paying into it, go get it back out!

I for one am not counting on it being there, and am massing resources and fortunes elsewhere to enjoy or giveth accordingly. If it is there, just another tool in the shed.

 

[stuckmotor]

Welcome to geezerhood. I turned 62 earlier this month.
Stuck

 

[scott_vt]

Good Morning William,
Congrats to you ! You are correct in your calculations, I figured it out like yourself, and found that78 was the breakeven number also...

I will be turning 62 this fall and have been wrestling with the same decision myself. I have been surviving on my small pension from my former employer, Pitney Bowes, and doing a bit of part time work...

Unlike your family my parents are 88 years old, and still leaving independently, so Im wondering if I shouldnt delay maybe another2 years to 64, which would increase my SS benefit about $250 per month.....

The good news is that my wife has a very good paying job, and I get my medical benefits through her, and we really dont have any debt o speak of...

OK another cup of coffee and some more thought on this subject..

 

[dmccarty]

I ain't this old....

But dang it, I can see that age is getting close, and it seem to be getting closer at a faster rate! I keep digging in my heels but time is moving by faster and faster.... I still feel like I am 18, well ok 28. :laughing::laughing::laughing: But the danged gray hair is giving me away!

Later,
Dan

 

[scott_vt]

I ain't this old....

But dang it, I can see that age is getting close, and it seem to be getting closer at a faster rate! I keep digging in my heels but time is moving by faster and faster.... I still feel like I am 18, well ok 28. :laughing::laughing::laughing: But the danged gray hair is giving me away!

Later,
Dan

Good Mornin Dan,

 

[riptides]

I ain't this old....

But dang it, I can see that age is getting close, and it seem to be getting closer at a faster rate! I keep digging in my heels but time is moving by faster and faster.... I still feel like I am 18, well ok 28. :laughing::laughing::laughing: But the danged gray hair is giving me away!

Later,
Dan

Dan,

Grecian Formula cures that. NOT the movement of time.

 

[newbury]

MAN!! I'm glad I'm not THAT old!!

I won't be 62 until, lets see .... May 27th.

Good luck with SS, hope it continues for you.

 

[dmccarty]

Dan,

Grecian Formula cures that. NOT the movement of time.

*** I *** figure that gray hair is a sign of experience and wisdom thus something that should be accentuated not hidden. :laughing::laughing::laughing: Not sure how many people will think I am wise much less value my experience.

Later,
Dan

 

[JDgreen227]

*** I *** figure that gray hair is a sign of experience and wisdom thus something that should be accentuated not hidden. :laughing::laughing::laughing: Not sure how many people will think I am wise much less value my experience.

Later,
Dan

PFFFFFTTTTT...given your snappy patter here and your oh-so-sarcastic PM's to me, I will vouch that anybody who thinks you are wise is fooling themselves...