social security

[DKCDKC]

I had some stuff going on so I retired at 63... Glad I did. It's been 4 years now and I remain glad I did. My uncle did all the math and took it at 62. He noted at age 88 that his calculations showed that was the first time he could be said to have lost money over what he would have had taking it at 65. But he also noted most of his friends who also took it early had died long before they would have hit that point. He never regretted it.

Have another friend who took it early then, at 66, went back to work full time at a job he loved and continued to contribute so that his payout now is probably higher than what he would have had taking it at 65.

Personal choice. I'm glad I jumped early.

 

[JDgreen227]

The way they keep telling us how SS is bleeding out that should be enough reason for anybody to try to get what they can as early as they can.

 

[Redbug]

Another one advising you to take it at 62.

Why?

"Adventure before Dementia!"

 

[rsewill]

Yes, 62 here, too. I look forward to being on the government teat. If I was working in a job I loved I would wait but I retired from truck driving last year and won't be going back to that career, too old to bounce down the roads.

 

[Redneck in training]

If you can live on SS and have medical go for it.
I wanted to retire at 62 too but I was advised that Medicare kicks in at 65. I still have substantial mortgage payment so there is no way we could live on SS. Since we need about 60K to live I would have to earn about 30K so my SS would be zero anyway.

 

[bobmisi]

I took it at 62 this year and very happy that I did. When I went to Social Security Office they advised to get on it at 62 as the age will be going up and benefits may be reduced in the future, but those all ready on it will not be affected. Everyone's situation is different, but if your bills are in order and you have insurance, I would say do it and don't look back. We all learn to adjust to our income. The more we earn, the more we spend, usually on stuff we don't need.

 

[Stick895]

I wonder, when they say that SS is going to run out in 20whatever, whether that is based on everyone taking it at 62, or waiting until they're 65-67 or just how they calculate that? And how they factor in people dying and such?

 

[beppington]

I wonder, when they say that SS is going to run out in 20whatever, whether that is based on everyone taking it at 62, or waiting until they're 65-67 or just how they calculate that? And how they factor in people dying and such?

I'm sure it's based on a bunch of statistical assumptions/measures ... including politicians continually raiding it, which is highly unlikely to decrease now that they've already warned us (exposed us to the sticker shock) that the $ likely won't be there, at least not nearly to the extent we thought it would be.

 

[Little Red Tractor]

Go to the SS office and ask them to run the numbers for you, then do the math yourself. You'll find that unless you live to be somewhere between 78 and 82, you're ahead of the game by taking it early. However the issues of medical insurance, etc. will factor into your decisions.

 

[deerseeker001]

retire now i took it at 62 now coming up next month turning 65 no regrets.a person never knows whats in store for the future.