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Why I Will Start Social Security At Age 62
SeekingAlpha ^ | 26 Aug 2014 | Robert Allan Schwartz

Posted on 09/01/2014 7:52:57 AM PDT by shove_it

Summary

When should I start Social Security? How will I receive the highest annual income? How will I receive the highest cumulative income? When will I be able to retire?

Every year, more than 2 million people turn 62. Many of those people will wonder, "When should I start receiving Social Security benefits?"

The earliest age of eligibility is 62. The benefit increases each year you delay starting, until age 70, after which point there is no additional increase.

When should I start - age 62 or age 70?

[...]

(Excerpt) Read more at seekingalpha.com ...


TOPICS: Business/Economy; Culture/Society; Editorial; News/Current Events
KEYWORDS: dsj02; socialsecurity
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To: shove_it

If you take SS before age 66 (unless they have moved that target again) you will have to take Medicare. Otherwise you can forgo it.


121 posted on 09/01/2014 5:43:56 PM PDT by Chickensoup (Leftist totalitarian fascism is on the move.)
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To: Chickensoup

Every SS recipient gets Medicare part A at no charge.


122 posted on 09/01/2014 7:06:17 PM PDT by shove_it (long ago Orwell and Rand warned us of Obama's America)
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To: bray

You say get rid of “Socialist Security”

Fine, Just give me back every FUGGING cent I have paid in up to now...

You EFFING Thief.


123 posted on 09/01/2014 10:07:20 PM PDT by LtKerst
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To: shove_it

My feeling is that a point will be reached where those receiving SS will continue receiving and new filers will be owed IOUs when the well begins to dry. If you are already receiving it the government would be in major breach by stopping it. The people who receive lesser amounts a month is what the government would love to see.


124 posted on 09/01/2014 10:17:13 PM PDT by jetson
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To: shove_it

if you want it. You do have to take it.


125 posted on 09/02/2014 4:58:54 AM PDT by Chickensoup (Leftist totalitarian fascism is on the move.)
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To: Drango
That’s a great return with almost zero risk.

As Rivera would say in the movie A Walk in the Sun, "Nobody dies".

126 posted on 09/02/2014 5:21:12 AM PDT by Stentor (Maybe the Goldman Sachs thing is just a coincidence. /S)
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To: LtKerst

You don’t have one dime in there. Pay back all of my taxes while your at it. How do I opt out of Socialist Security?

Funny how you only care about your money and could care less about the 17 trillion of debt when it comes to SS.


127 posted on 09/02/2014 7:25:01 AM PDT by bray (Palin/Bibi 2016)
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To: TADSLOS

A quick way to find out if any of your benefits may be taxable is to add one-half of your Social Security benefits to all your other income, including any tax-exempt interest. Next, compare this total to the base amounts below. If your total is more than the base amount for your filing status, then some of your benefits may be taxable. The three base amounts are:

$25,000 - for single, head of household, qualifying widow or widower with a dependent child or married individuals filing separately who did not live with their spouse at any time during the year
$32,000 - for married couples filing jointly
$0 - for married persons filing separately who lived together at any time during the year


128 posted on 09/02/2014 9:25:07 AM PDT by KeyLargo
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To: JPG

But I see 3 of them in the bush in the background!


129 posted on 09/02/2014 4:30:07 PM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: miss marmelstein

Very smart thing to do.

I’m was not eligble for SS; since I did not pay into it long enough - worked for the Navy Department instead.

I opted to get out as soon as possible; seeing inflation looming on the horizon; and was DAMNED sure not gonna get caught by another Carter-like loonytoon who decided to “Whip Inflation Now” with the wallets of government workers.

I was held for a couple of years at a 5.5% ‘cola’ while private industry wages were in the double digits.

People who had retired in front of me were receiving REAL cola increases in their retirement checks; and ended up making MORE m oney being retired than I was still working!!


130 posted on 09/02/2014 4:34:38 PM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: ThE_RiPpEr.
For me, the right question is, “Which alternative allows me to retire sooner?”

I highly recommend it!

There is NO way you can extend your life; but you CAN extend your non-WORKING life!


Do NOT be afraid to downsize your lifestyle drastically; either!

Learn to be happy with less: it'll go farther!

131 posted on 09/02/2014 4:40:07 PM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: usconservative
The reality is also that the longer each one of us is a tax PAYER into the system, the more Big Government likes it because it's one less year of "benefits" they have to pay.

TADA!

Just like 'higher learning' years keeps the jobless rate figures lower...

132 posted on 09/02/2014 4:41:14 PM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: Leaning Right

So true!


133 posted on 09/02/2014 4:41:51 PM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: ataDude

The wifey about croaked the other day when she saw the prices of BACON!


134 posted on 09/02/2014 4:44:18 PM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: shove_it
I retired after 32 years of teaching in June.

I will be 62 in October. The astounding thing is that putting my pension and social security together I will be bringing home more money in Oct. than when I was teaching.

I also have two tax shelters that I have been putting money into for over 20 years.

135 posted on 09/02/2014 4:45:06 PM PDT by mware
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To: Elsie

All this talk about money


and the end of our lives on Earth being relatively easy to enjoy.

Don't forget, that AFTER all this, there is STILL something else to face:

Matthew 6:20-21
But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal:
For where your treasure is, there will your heart be also.

136 posted on 09/02/2014 4:49:41 PM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: Elsie

And the earlier you start SS the more you are trapped into Medicare and government control over your health.


137 posted on 09/02/2014 6:16:48 PM PDT by Chickensoup (Leftist totalitarian fascism is on the move.)
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To: Chickensoup

Yeah.

I didn’t even KNOW about Medicare until one day my insurance company said...


138 posted on 09/03/2014 3:10:32 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: Arlis

btt


139 posted on 09/03/2014 3:19:14 AM PDT by KSCITYBOY
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To: Arlis
When 61 I ran the numbers and clearly it’s to your advantage to take it early for multiple reasons.

I agree 100%. Taking mine at age 62 in 4 1/2 years. Another reason for me to take at 62 is that my father, healthy and active nearly his entire life, died of cancer at age 68. No guarantees, get what you can today.

140 posted on 09/03/2014 4:54:59 AM PDT by IndyTiger
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