“Take the money! Anyone who Waits for 8 years without an ironclad guarantee from God that they’re going to live to make up what they will have lost if they died the day before the 70th birthday is nuts.
Even if you don’t need the money take it and invested the stock market historically goes up two days out of every three and the average return is 8%. No one with a brain ever refuses money unless it is a critical tax situation which in most cases this would not be since most States and the government exempt social security income at least partially.”
I agree 100 %. Both my wife and I took it at 62 and now 15 years later are just approaching break even point. Mother in
Law adamantly refused to take it until full retirement age. Said she didnt need it. Begged her to take it and build portfolio. No dice. Died at 73. She was screwed as were heirs.
I had a job related heart attack at age 52. I was peace officer and got a nice medical retirement with only 10% taxable. I took my SS at 62. I had enough credits from before I was in the peace officer system.
I had a 5-way by-pass in 2002 and didn’t expect to I’ve past 65. Now I’m 71. But I don’t regret taking the lower amount earlier. My wife is 61 and she will probably wait.
“No dice. Died at 73. She was screwed as were heirs.”
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Since when do people making financial decisions that seem best for their needs have to worry about their heirs?
It was her decision and her money.
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I’ve been asking the early-retirers what do they do for health insurance.
What did y’all do?