One more year and I'll be a Free Man!

[troutsqueezer]

I think the talk of waiting is a "Scam".

I have been thinking this for some time now. Every single time you read or see an article on retirement -and they are all over the Internet and magazines and television - the advice is inevitably "don't retire at 62! You can collect more money per month by waiting until you are 65". This mantra is so pervasive, I've stopped watching or reading any article that talks about retirement. I'm sick of them. Why is getting a few extra dollars per month so much more important than mental health and enjoyment of your last few years here on earth? You look forward to your Golden Years for such a long time and at every turn there's someone advising you to wait, usually those who haven't been working as long as you have.

I need to get my brain and body restored to a healthier condition much more than I need a few extra dollars. 62 it is. 5 months and counting. I don't care what AARP recommends, I do not need to live high on the hog after I retire in fact, I would say that material things naturally become much less important at this stage of life, so the BMW goes and the Corolla stays because image is no longer a concern.

 

[NorTracNY]

I have been thinking this for some time now. Every single time you read or see an article on retirement -and they are all over the Internet and magazines and television - the advice is inevitably "don't retire at 62! You can collect more money per month by waiting until you are 65". This mantra is so pervasive, I've stopped watching or reading any article that talks about retirement. I'm sick of them. Why is getting a few extra dollars per month so much more important than mental health and enjoyment of your last few years here on earth? You look forward to your Golden Years for such a long time and at every turn there's someone advising you to wait, usually those who haven't been working as long as you have.

I need to get my brain and body restored to a healthier condition much more than I need a few extra dollars. 62 it is. 5 months and counting. I don't care what AARP recommends, I do not need to live high on the hog after I retire in fact, I would say that material things naturally become much less important at this stage of life, so the BMW goes and the Corolla stays because image is no longer a concern.

They're financial articles. They therefore talk about maximizing the money. If you need to retire, and you feel it's the best thing for you, why wait till your 62???

 

[bucktaker]

One thing to think about is the way SS calulates your benefits If you stop working before you start collecting those years of low or zero income decrease your benefit when you do start.
I had planned on "retiring at 62 but not drawing till 67. Not any now I will draw at 62 till death

 

[MF 1532]

I have had several friends and customers that have retired , and the majority have opted for 62 . They all say if you do the math , you have to live in to your 80's to come out ahead at the latter age . The ones that I know that have stayed until 65 are doing it because their wife isn't old enough to get on medicare .

 

[dusty74]

looking at the Math it will normally take someone 7.5 years to make up for the money they could of drwan when that were 62. Meaning if you wait until 66 would have to to live to age 73.5 to make up for the money you coul have drawn starting at age 62.

So the real question is how long do think you will live.

 

[PossumHound]

I read a quote somewhere recently that said that fun was doing work you enjoy. I'll go along with that as it has a side benefit of a sense of accomplishment.

Enjoy your retirement. For me, it has been the best time of my life!

Russ

Welcome aboard, Locoweed!

:welcome:

PH

 

[Gizmo2]

looking at the Math it will normally take someone 7.5 years to make up for the money they could of drwan when that were 62. Meaning if you wait until 66 would have to to live to age 73.5 to make up for the money you coul have drawn starting at age 62.

So the real question is how long do think you will live.

I wasn't going to comment in this thread but...
I WAS going to hang out to 65 but not now. The older I get the more I want out....6 more years. The second real question you need to ask yourself is, at what point would you consider still living. Gets to the point where quality outweighs quantity.

 

[RandyT]

I have had several friends and customers that have retired , and the majority have opted for 62 . They all say if you do the math , you have to live in to your 80's to come out ahead at the latter age . The ones that I know that have stayed until 65 are doing it because their wife isn't old enough to get on medicare .

My father's full retirement age was 65 and 8 months. He started drawing at 65. The social security admin said it would take him 11 years to make up the difference of waiting 8 months.

 

[samhudson3]

"I need to get my brain and body restored to a healthier condition much more than I need a few extra dollars. 62 it is."

I'm 57, couldn't agree more that 62 it is! Every retired person I know couldn't be happier and say they don't know how they ever had time to work...

My garden is getting bigger and bigger every year, so I'll put some real food on the table. I'm in the middle of NC, just voted one of the top foodie areas of the US so won't have trouble selling extra produce.

Best wishes for a joyous retirement!

 

[dusty74]

bottom line it is not worth waiting until you are 66 when you can draw at 62?
Quality of life is always more important and better than quanity. I thought that went with out saying.

But I guess there are those that just want to hang in there and let someone else take care of them.