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To: shove_it
I started SS at age 62 after 2 friends who swore "they were gonna work forever" (translation: They didn't save any money for retirement) died at 62 and 63 respectively.

It's not as much as if you wait to 65, but I figured I deserved to see some of it before I ended up the same way.

The SS check helps out with the necessities, but if you don't have any savings, you're going to take about a 50% loss of income/standard of living.

Six years later I'm still going strong, and I'm glad I saved up for all the stuff that a SS stipend doesn't cover.

108 posted on 09/01/2014 11:01:26 AM PDT by Kenton
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To: Kenton; KeyLargo; All

Just curious. How much does the federal taxation of SS payments (up to 85% of benefits taxed, depending on income) weigh into your decision as to when to begin drawing it?


111 posted on 09/01/2014 11:21:35 AM PDT by TADSLOS (The Event Horizon has come and gone. Buckle up and hang on.)
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