I wouldn’t worry about it - if you are eligible for SS, apply for it. Statistics show that waiting until 65 (or older) for higher amounts doesn’t usually pay as much in the long run as taking it early. Even if part of it is taxed, you still net more than if you’re not taking it.
I understand that. What I’m trying to determine is if my net dollars working part time and collecting SS would be at least what my net dollars are now, working full time.
So far, it looks like my net after making this move would equal my net now. I need to do some more thinking about this, and I have until the last day of September this year to make the decision for next year. (You have to apply for SS payments 3 months ahead of the first payment you want to receive, and if you ask for payments to begin later than January, then the SSA does some calculations with your income that can result in not receiving the first few SS payments.)
One of the last factors to consider is what I would do with the additional spare time. If I would merely plop down in front of my HDTV and in front of my computer, then it probably isn’t going to be helpful to me at all.
And don’t forget nonfinancial factors, like dying, getting too sick to enjoy yourself, other turns of events that can keep you from enjoying yourself, like having to be a full-time caretaker, etc. etc. Don’t mean to bring up downers, but enjoy it while you can.