spin_dry Posted September 6, 2023 Share Posted September 6, 2023 When is the best time to pull the plug? Quote Link to comment Share on other sites More sharing options...
J. Jackson Posted September 6, 2023 Share Posted September 6, 2023 I'm waiting until at least 66.5. I'm quite a bit older than my wife and would want her to have my larger monthly amount should I croak before her plus at 65 I'm still earning a good paycheck from my business which I still enjoy getting up in the morning to go to. 2 Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted September 6, 2023 Share Posted September 6, 2023 Taking SS at 62 is a bad deal for most, who live to normal life expectancies. Quote Link to comment Share on other sites More sharing options...
XCR1250 Posted September 6, 2023 Share Posted September 6, 2023 Both myself and wife took SS at 62. 1 Quote Link to comment Share on other sites More sharing options...
spin_dry Posted September 6, 2023 Author Share Posted September 6, 2023 7 minutes ago, J. Jackson said: I'm waiting until at least 66.5. I'm quite a bit older than my wife and would want her to have my larger monthly amount should I croak before her plus at 65 I'm still earning a good paycheck from my business which I still enjoy getting up in the morning to go to. Should you croak, your wife could start with your SS as early as age 60. Then she can wait until age 67 or even age 70 to allow hers to mature. Then she can switch to hers. 1 Quote Link to comment Share on other sites More sharing options...
Cold War Posted September 6, 2023 Share Posted September 6, 2023 I’m hoping my liver holds out to 56 , like the smash mouth guy. 3 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted September 7, 2023 Share Posted September 7, 2023 I took it at 62. Got a almost 9% raise in January. Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted September 7, 2023 Share Posted September 7, 2023 5 minutes ago, Mainecat said: I took it at 62. Got a almost 9% raise in January. The benefit compounds at around 8% per year until you take it or age 70, and they all got that same additional raise. Plus there are limitations on earned income. Its a personal decision certainly, values, goals and lifestyle play a huge part in the decision. 1 Quote Link to comment Share on other sites More sharing options...
awful knawful Posted September 7, 2023 Share Posted September 7, 2023 60 for this guy. Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted September 7, 2023 Share Posted September 7, 2023 1 minute ago, awful knawful said: 60 for this guy. This is USA. 62 unless you're disabled is the earliest you can take it. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted September 7, 2023 Author Share Posted September 7, 2023 7 minutes ago, DriftBusta said: This is USA. 62 unless you're disabled is the earliest you can take it. Survivor benefits can begin at age 60. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted September 7, 2023 Platinum Contributing Member Share Posted September 7, 2023 I plan on taking it next May when I turn 62.... I really don't need the money but I'm not going to wait. Here today gone tomorrow is my motto. You just never know. Plus they've been talking about SS drying up ever since I was a kid... Maybe that will finally come to fruition..so I'm grabbing my share while I can. 6 Quote Link to comment Share on other sites More sharing options...
Snake Posted September 7, 2023 Share Posted September 7, 2023 56 minutes ago, DriftBusta said: Taking SS at 62 is a bad deal for most, who live to normal life expectancies. 78 for a woman, 73 for a man. At least one of us will take it at 2... Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted September 7, 2023 Platinum Contributing Member Share Posted September 7, 2023 Maybe Spin would know... Seems pretty knowledgeable about this topic. If wife passes before I do, can I switch to her SS or am I locked in once I take my own? Hers is higher as she waited longer to draw. Quote Link to comment Share on other sites More sharing options...
Gold Member 800renegaderider Posted September 7, 2023 Gold Member Share Posted September 7, 2023 I’ll take it at 62 rather have it while I’m still able to use it. Hell I’d retire long before that it we could get some Medicare for all. Insurance likely be the only thing keeping me working. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted September 7, 2023 Platinum Contributing Member Share Posted September 7, 2023 1 minute ago, 800renegaderider said: I’ll take it at 62 rather have it while I’m still able to use it. Hell I’d retire long before that it we could get some Medicare for all. Insurance likely be the only thing keeping me working. It doesn’t have to be that way but you know…. Quote Link to comment Share on other sites More sharing options...
XCR1250 Posted September 7, 2023 Share Posted September 7, 2023 9 minutes ago, ViperGTS/Z1 said: Maybe Spin would know... Seems pretty knowledgeable about this topic. If wife passes before I do, can I switch to her SS or am I locked in once I take my own? Hers is higher as she waited longer to draw. You can take hers. 1 Quote Link to comment Share on other sites More sharing options...
snoughnut Posted September 7, 2023 Share Posted September 7, 2023 1 hour ago, DriftBusta said: Taking SS at 62 is a bad deal for most, who live to normal life expectancies. Fuck that, take that shit at 62 because the days are numbered when you're north of 60. Besides, SS should be hooker and blow money for many anyway. 12 minutes ago, ViperGTS/Z1 said: I plan on taking it next May when I turn 62.... I really don't need the money but I'm not going to wait. Here today gone tomorrow is my motto. You just never know. Plus they've been talking about SS drying up ever since I was a kid... Maybe that will finally come to fruition..so I'm grabbing my share while I can. I agree 100% 1 Quote Link to comment Share on other sites More sharing options...
spin_dry Posted September 7, 2023 Author Share Posted September 7, 2023 5 minutes ago, ViperGTS/Z1 said: Maybe Spin would know... Seems pretty knowledgeable about this topic. If wife passes before I do, can I switch to her SS or am I locked in once I take my own? Hers is higher as she waited longer to draw. You can switch to hers at a later date. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted September 7, 2023 Platinum Contributing Member Share Posted September 7, 2023 8 minutes ago, 800renegaderider said: I’ll take it at 62 rather have it while I’m still able to use it. Hell I’d retire long before that it we could get some Medicare for all. Insurance likely be the only thing keeping me working. Yeah.... that's how I feel as well. I'm fortunate enough where this will all be play money to me. Will use it for traveling, vacationing, etc. while we are both still healthy to do so. In my situation it just doesn't make sense to wait. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted September 7, 2023 Author Share Posted September 7, 2023 (edited) 20 minutes ago, ViperGTS/Z1 said: I plan on taking it next May when I turn 62.... I really don't need the money but I'm not going to wait. Here today gone tomorrow is my motto. You just never know. Plus they've been talking about SS drying up ever since I was a kid... Maybe that will finally come to fruition..so I'm grabbing my share while I can. I started survivor benefits from my wife at 60. I’m investing the benefit. I’ll wait until age 70 and switch to my benefits for nice increase. Edited September 7, 2023 by spin_dry 1 Quote Link to comment Share on other sites More sharing options...
1jkw Posted September 7, 2023 Share Posted September 7, 2023 You're going to be dead a long time, take it at 62 while you are healthy enough to enjoy it, most people can't physically do at 66 what they can at 62. 2 Quote Link to comment Share on other sites More sharing options...
Doug Posted September 7, 2023 Share Posted September 7, 2023 Retired at 60 and not taking my SS or retirement yet. Have enough income and side jobs to cover my insurance and living expenses Quote Link to comment Share on other sites More sharing options...
Gold Member 800renegaderider Posted September 7, 2023 Gold Member Share Posted September 7, 2023 2 minutes ago, ViperGTS/Z1 said: Yeah.... that's how I feel as well. I'm fortunate enough where this will all be play money to me. Will use it for traveling, vacationing, etc. while we are both still healthy to do so. In my situation it just doesn't make sense to wait. I think most feel this way. It’s nothing more than greed to wait to take it to me over a few hundo screw that. Quote Link to comment Share on other sites More sharing options...
Snake Posted September 7, 2023 Share Posted September 7, 2023 Just now, 800renegaderider said: I think most feel this way. It’s nothing more than greed to wait to take it to me over a few hundo screw that. For some people that few hundo is the difference of a lifetime. Sounds like everyone here is pretty squared away, not everyone was so fortunate. Quote Link to comment Share on other sites More sharing options...
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