social security

[Redbug]

JD...I think you are better off getting it earlier and enjoying yourself while you can.

Did I mention..."Adventure Before Dementia?"

 

[JimWalch]

16 more days to 62 and I'M TAKING IT

 

[homeputter]

Statistically, I guess it doesn't make any difference to SS whenever you start taking your benefits. I am really different. I don't plan on taking mine until I am 70 - 3 more years. My benefit is increasing 8%/year while I am waiting.

However, when my wife starts taking her full benefit this summer, I will apply to receive 1/2 of it myself and will take that until I am 70. Then my benefit will pop up to my full benefit calculated on age 70.

I am thinking I will live long enough to beat the odds since I am heathy (so far!), not over -weight, don't smoke, light drinker and generally lead a boring, risk free life style. ha ha

I think many on this forum will live longer than they think - doctors can keep you alive longer than you might think.

I DO UNDERSTAND the view people who want to enjoy their benefits early while they are healthy enough to do what they want to. That is what I think is my main risk - not that I will die too soon, but that I won't be healthy enough to really do what I want.

 

[TripleR]

Statistically, I guess it doesn't make any difference to SS whenever you start taking your benefits. I am really different. I don't plan on taking mine until I am 70 - 3 more years. My benefit is increasing 8%/year while I am waiting.

However, when my wife starts taking her full benefit this summer, I will apply to receive 1/2 of it myself and will take that until I am 70. Then my benefit will pop up to my full benefit calculated on age 70.

I am thinking I will live long enough to beat the odds since I am heathy (so far!), not over -weight, don't smoke, light drinker and generally lead a boring, risk free life style. ha ha

I think many on this forum will live longer than they think - doctors can keep you alive longer than you might think.

I DO UNDERSTAND the view people who want to enjoy their benefits early while they are healthy enough to do what they want to. That is what I think is my main risk - not that I will die too soon, but that I won't be healthy enough to really do what I want.

Always something to consider. I worked six years past my eligibility date to increase my retirement and savings. I retired when I was 60 and four months later my health took a significant turn for the worse. I would gladly give up the extra money for six years of healthy retirement.

 

[Oaktree]

the only thing i don't like about getting social security at 62 is that they withhold some if i earn over around 15k.

I'm in a similar situation myself...I'll turn 62 this year, future of my current job is a little shaky...I'm also considering collecting and maybe working P/T at Walmart or something for the insurance.

One question...does the $15k only apply to my earnings or does it include my wife's (we file taxes jointly)?

 

[randy41]

the 15k is applied on an individual basis so only yours, or at least thats how i see it. but these withheld amounts are paid to you after you turn 65 or 66 (not sure which).

 

[mikim]

I'll be getting so little it just doesn't matter but my first check should be here 1 Jun. It'll pay almost half of what our vehicle gas bill is. Didn't like that it takes over 12 years to recoup what you don't collect if you wait.

 

[StanR]

I am 60 and do not think I will be able to take SS until 66. My income is at it highest level ever. I do plan on slowing down at 62... But can make a pretty good living working part time.

 

[phiferpharm]

I applied for Social Security online Friday. I could have started last year, but wasn't looking forward to the hassle of getting an appointment, going in, getting all the stuff together, etc.

Well, it could not have been any easier. Took maybe 15 minutes online, and then I got a call from a SS representative yesterday (yup- Saturday) who asked me a few questions, told me what my benefits would be, and that my first check would be deposited next month.

Gotta say, it was a pleasant surprise that it was that painless a process.

 

[rekees4300]

Gotta say, it was a pleasant surprise that it was that painless a process.

I've been getting benefits for 4 years and have never talked to a live human re the process.