Jobless? Retire early (Every day another 10,000 boomers will get Social Security)

Times Union ^ | 2/14/10 | TONY PUGH

[Libloather]

Every day another 10,000 boomers will get Social Security

Heard that in a radio ad today.

[goldstategop]

Yeah might as well retire early and having to invest.

"Show me just what Mohammed brought that was new, and there you will find only things evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelogus

[goldstategop]

I mean have something to invest.

"Show me just what Mohammed brought that was new, and there you will find only things evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelogus

[Proud2BeRight]

It's starting. The Ponzi starts to collapse.

[unkus]

Wow.

[Graybeard58]

Damn boomers.

All their fault.

[ReyTurner]

I get my first SS check in 6 days! I have been paying for these welfare jerks all my life. I make lots of money but by gosh the bastard start flowing it back to me and I want every fricken penny without delay and you suckers just keep working SO I GET MY MONEY!!! I want my money. ( and my wife gets it too!!!) Ha!!!

[familyop]

That’s a good idea! The sooner the big default, the sooner we can rebuild the real, productive America.

[WellyP]

I figured I had better take mine when I could so I took it last year. I’m glad and I can still work part time and earn another $14,700 without losing benifits!

Grab yours NOW before Obama steals it!

[Nervous Tick]

Well, I have about ten years to go, but tell you what... the DAY I’m eligible to begin drawing SS (if there’s any left by then!) you bet your bottom dollar I’m going for it. At the rate it’s going under, why not...

This run on SS is really a surprise, isn’t it? Who would’ve thought? Yet another “unexpected” facet of the Obama economy.

[tflabo]

56er here-— can’t retire just yet.... trying to shoot for not having to rely on SS if and when the time comes to retire. SS ‘fund’ could have been a self generating money making revenues from interest engine if the corrupted pols didn’t raid it. Pox on them all-— cretins!

[Little Bill]

I started collecting Socialist Security last May at 63, if it lasts I may recover the donations in 11 years.

[FrankR]

"That forced many to claim retirement benefits at 62, their first year of eligibility, instead of waiting to collect at the full retirement age of 66. "

For me, it was a difference of $300.00 per month, I can pick that up having yard sales and selling scrap metal.

I have never taken any government money, and was very reluctant to sign up for SS, but my kids encouraged me, saying, "Dad you've paid into it all your life, it's yours to have.". They're right, although the government has timed it so you probably will never get out of it what you put in it, unless you live to 90 or something.

Great time for obama to collapse the economy, right here when the boomers start coming of age to draw their pennies.

[Jim Robinson]

Well, there’s 2.7 million off the unemployment rolls in 2009 and probably a similar number coming in 2010. Geez, Obama must be a genius.

[familyop]

"56er here-— can’t retire just yet.... trying to shoot for not having to rely on SS if and when the time comes to retire."

That's the wise way to go, IMO. I'm very near your age and am doing the same. Prepare, because the older, more hippie half of us Baby Boomers will drain the revenues very quickly.

[Deo volente]

There are two problems with taking Social Security at age 62.
The payments are about 40% less than if one waits until full retirement age (66 for my birth year), and there is a heavy penalty if one continues to work while collecting payments.
The work penalty disappears at full retirement age, but until then you’re going to get hit hard.

One more thing...those 40%-reduced payments remain permanently reduced, for the rest of your life.

[Glenn]

Don't bash us kiddies. There is not near enough money in the monthly check for our weed habit.

[pallis]

I think I’ll pass on Social Security, early or late.

[Panzerfaust]

Your post reminds me of a hilarious line from The Simpson’s, where Bart discovers that Grandpa Simpson has a whole box of cash stashed under his bed at the nursing home. When Bart asks him where he got it, he says “The government. I didn’t earn it, I don’t need it, but if they miss one payment, I’LL RAISE HELL!!”

Enjoy your money, you earned it!!

[Logic n' Reason]

Some of the good planners chose to retire early - and for a good many reasons.

And....at 62, they had earned their SS. Heavens, they don't even know if by 65 or so, there will be anything to receive!!

Other (and I am in this catagory) were thrown out of work due to our age. For us, SS was mandatory. You tell me where the jobs are, and I'll return to work. Trust me on that. But until our elected reps call a depression a depression and attack it as they should have been doing all along, there will be no jobs, and without jobs, there will be no recovery.

So...to all of you with jobs...go out and get another one! Heck, you're young enough. Then contribute to the SS fund to that I and millions of others like me can receive our SS.

What am I going to do when I get to be SS age, you ask? Truthfully, I don't give a damn. But I wish you luck!