Posted on 05/14/2025 12:38:15 PM PDT by where's_the_Outrage?
To be honest, I am just thrilled I will soon be collecting Social Security. 20 years ago, I was convinced I would never get a penny of it. At the very least, I figured to get around half my promised amount, or less than half.
That I will soon be collecting my promised amount at FRA is pure gravy. I never expected to collect a dime. I am ecstatic that the Fed Gov is still honoring their promise and paying the full amount of the formula they promised to pay. Well, the altered formula.
This is all gravy to me. I never thought I would collect a dime.
No insult intended mate. Instead of greed just use desire for more money. Who doesn’t want more? Nothing wrong with that.
That makes sense. What’s the use of more money at 89 when one cannot do things that one could have done at 6t
Lots of good comments here, best advice takeaways IMHO:
1. Become debt free! If you retire with debt it can weigh on you.
2. Quality of life. Yes waiting until 70 for SS will give you more money, but taking at 62 allows you to spend with your significant other, either of you are not guaranteed to make it to 70.
3. Plan for retirement! If you expect to just live off SS you will most likely not enjoy it.
However, situations are different, and can change. I planned to work until 70+ because I really enjoyed what I was doing. But I found a significant other that in order to be with her I had to quit. I did, and would do the same thing again, but still miss the work. However, I’m an engineer which all of us are insane.
A tidbit: When I quit work I was living off savings and my income was less than $1k a month. When I hit 59 1/2 I was able to withdrawal $50K from my 401K and my tax liability was ZERO. Same for age 60, 61, & 62 allowing me to move money from my 401K/IRA to Roth with no tax liability. Upon getting SS that changed.
If you have managed to remain alive until the ripe old age of 70, I sincerely believe that anything you do beyond that achievement is more or less a bonus.
Former recreational and professional skydiver proselytizing here...
I have had so many personal near-death experiences that I am WAY beyond the customary nine lives expectation of any normal human lifespan.
I believe that the Lord has spared my life that I may one day run into a burning building and rescue an armload of kittens.
I took SS at the sporting age of 66 and a whisper of 7 months.
I waited until 70 ... Excellent move ... Extremely happy ...I waited, too. If I die, whether I had maximized my Social Security benefits wouldn’t be a concern at all. To me, the only concern was what would happen if I live! Extremely happy with my decision.
Yep, that too. 😆
Taking ss early is OK, but it maybe wiser to still work. People seem to die quickly after they quit working.
Thank you, Bonemaker, and the others for commenting.
I’m sure I will make sure to be as educated as I can when (if) the time comes, but for right now, this has been an interesting eye-opener, and there is nearly a consensus in the type of advice given (albeit with lots of caveats to heed) that it is better not to wait.
My grandfather died the night he retired. I sold the business and retired at 50 just before the plandemic. Life is good. Still do contracts during the winter months to buy new toys.
Just work a little and volunteer a little
Lots of land mines in life. Just steer the ship through the shoals as best you can and avoid things you’ll later regret and have guilt for. Good luck and godspeed.
I was “greedy” because I wanted my wife to have a comfortable retirement regardless of how long I lived.
Lol.
“People seem to die quickly after they quit working.”
I’ve noticed that phenomena too over the years. However, it seems to be people who had incredibly physically and emotionally intense occuupations...police, fire, military etc...and/or those whose identity was merged with their career.
To make the very best decision, you have to know several things in advance:
1. The day and date when you will die.
2. The day and date when your spouse will die.
3. Expected quality of life for both you and your spouse from age 62 until death.
4. Mental and physical health expectations for you and your spouse for that same time period.
5. Any other income sources you or your spouse may have.
In other words, of those five items, there’s only one (number 5) that you can reasonably predict.
I’m 75, took SS @ 62, and it probably was the right decision, as I’m slowing down quite a bit over the last several years.
“There are higher Medicare premiums the more you earn.”
Up to $212,000 modified adjusted gross income the 2025 premium is $185/month deducted from SS. An icredible bargain! Premiums go up step wise from there.
Yep Mr. GG2 and I both took it at 62.
“.......IF YOU LIVED THAT LONG...”
Never draw on an inside straight!
My husband retired at 62, and I am so glad he did. He died two years later. My brother died at age 58 and was never able to collect a dime, even after working since he was 16 (as did my husband and me). I was happy to be able to retire at 62. Life is precious (and short), and the future isn’t guaranteed.
Are you familiar with the Beatles song GIRL? I swear it was written for me. :)
Girl
Song by
The Beatles
Is there anybody going to listen to my story
All about the girl who came to stay?
She’s the kind of girl you want so much it makes you sorry
Still you don’t regret a single day
Ah, girl
Girl, girl
When I think of all the times I’ve tried so hard to leave her
She will turn to me and start to cry
And she promises the earth to me and I believe her
After all this time I don’t know why
Ah, girl
Girl, girl
She’s the kind of girl who puts you down
When friends are there you feel a fool
When you say she’s looking good
She acts as if it’s understood she’s cool
Ooh, oh!
Ooh, oh!
Ooh, oh!
Girl
Girl, girl
Was she told when she was young
That pain would lead to pleasure?
Did she understand it when they said
That a man must break his back to earn his day of leisure?
Will she still believe it when he’s dead?
Ah, girl
Girl, girl
Ah, girl
Girl, girl
Girl, girl
Girl, girl
Songwriters: Paul Mccartney, John Lennon. For non-commercial use only.
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