Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Bitsy

That’s the smart thing to do, IMO. For many of us baby boomers, the difference in benefits between retiring at 62 rather than 66 will not be equaled until 76 YO.

IOW, if you retire at 62, your benefits will be reduced by 25% to 30%. If you wait until 66 to 67 to start drawing SS, it will take you at least until you are 76 before you have received the same total amount of money that you will be retiring at 62. (For those born in 1960, the break-even is at almost 79 YO.)


41 posted on 03/27/2008 11:40:46 AM PDT by savedbygrace (SECURE THE BORDERS FIRST (I'M YELLING ON PURPOSE))
[ Post Reply | Private Reply | To 21 | View Replies ]


To: savedbygrace

My father retired at 55, now that he’s 62 he’s getting SS. He had colon cancer and just had a heart stent put in- and didn’t want to wait any longer. The difference in benefits between collecting at 62 and 65 was very small. My Mom also decided to get her SS too... it’s all discretionary income for them because of my fathers pension and my mothers investment income. I am happy that they get to travel and do things after working all these years. NO one should have to work until the day the die unless they want to. What a horrible existence.


68 posted on 03/27/2008 12:43:56 PM PDT by bigred41
[ Post Reply | Private Reply | To 41 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson