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#4615482 - 12/27/17 08:22 AM When do you plan on taking Social Security?
ZZman Offline


Registered: 03/17/08
Posts: 5790
Loc: Michigan
I was lucky to retire from full time work at 55. I plan on taking SS at 62.
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#4615490 - 12/27/17 08:29 AM Re: When do you plan on taking Social Security? [Re: ZZman]
Donald Offline


Registered: 03/21/04
Posts: 20469
Loc: Upstate NY
62 is fine for many people, but it reduces benefits for life and if you work between 62 and FRA it also reduces your benefits until you reach FRA if you earn any decent money.

For many who retire early its the health insurance costs that are the budget killer before they can get Medicare.

There are a few websites where for around $40 they will do the various calculations to determine when its best to take SS given your individual situation.
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#4615497 - 12/27/17 08:32 AM Re: When do you plan on taking Social Security? [Re: ZZman]
CourierDriver Offline


Registered: 12/27/09
Posts: 4952
Loc: Tn.
I took mine at 62, but I got impatient,,,should have waited till my 66 birthday,,would have been another 5oo a month,,,mercy ...
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#4615498 - 12/27/17 08:33 AM Re: When do you plan on taking Social Security? [Re: ZZman]
maximus Offline


Registered: 01/24/08
Posts: 723
Loc: TX
Probably never. I reckon I'll be dead before I'm eligible or the fund will be depleted if I'm not.
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#4615503 - 12/27/17 08:37 AM Re: When do you plan on taking Social Security? [Re: ZZman]
Sierra048 Offline


Registered: 02/26/11
Posts: 827
Loc: N. Georgia Mtns
I took mine at 62 as well. While not a huge amount, it has allowed us to defer taking my pension benefits at this time allowing for some extra growth. SS and profit from a home sale has kept us going for now but I'll have to start taking my pension within the next year.
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#4615516 - 12/27/17 08:46 AM Re: When do you plan on taking Social Security? [Re: ZZman]
doitmyself Offline


Registered: 06/03/02
Posts: 6226
Loc: MI
Hoping that I can work at least 4 more years until 66, my FRA. My career and lifestyle helps keep me healthy, both mentally and physically.

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#4615520 - 12/27/17 08:48 AM Re: When do you plan on taking Social Security? [Re: ZZman]
Schmoe Offline


Registered: 05/12/03
Posts: 7256
Loc: Oklahoma
66
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#4615525 - 12/27/17 08:49 AM Re: When do you plan on taking Social Security? [Re: ZZman]
AZjeff Online   content


Registered: 01/14/11
Posts: 2650
Loc: PV Az
We've been debating this being 60 and 61, calculating different scenarios. The in-progress new job/move/new house situation answered those questions for us. 66.
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#4615531 - 12/27/17 08:54 AM Re: When do you plan on taking Social Security? [Re: ZZman]
henni Offline


Registered: 12/28/11
Posts: 292
Loc: key largo,fl
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#4615537 - 12/27/17 09:03 AM Re: When do you plan on taking Social Security? [Re: ZZman]
Al Offline


Registered: 06/08/02
Posts: 18039
Loc: Elizabethtown, Pa
Wait as long as possible.
Don't worry about it not being there. Its just a government paper exercise. They have used it as current revenue for decades. So its already broke.


Edited by Al (12/27/17 09:03 AM)
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#4615542 - 12/27/17 09:06 AM Re: When do you plan on taking Social Security? [Re: maximus]
Wolf359 Online   content


Registered: 04/27/12
Posts: 4766
Loc: MA
Originally Posted By: maximus
Probably never. I reckon I'll be dead before I'm eligible or the fund will be depleted if I'm not.


It's got a while to go before that happens. Right now without any changes it's solvent for another 17 years. It won't get depleted like benefits will go to 0, when it becomes insolvent, it will only be able to pay out 77% of obligations, not 0.

But that's 17 years away and Congress has a tendency to wait til it becomes a crisis to fix things. It's still considered the 3rd rail of politics so I think it'll get fixed.

http://money.cnn.com/2017/07/13/news/economy/social-security-trust-fund-projection/index.html

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#4615565 - 12/27/17 09:34 AM Re: When do you plan on taking Social Security? [Re: maximus]
Linctex Offline


Registered: 12/31/16
Posts: 6160
Loc: Waco, TX
Originally Posted By: maximus
Probably never. I reckon I'll be dead before I'm eligible or the fund will be depleted if I'm not.


Same here.... who knows....
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#4615569 - 12/27/17 09:39 AM Re: When do you plan on taking Social Security? [Re: Wolf359]
Linctex Offline


Registered: 12/31/16
Posts: 6160
Loc: Waco, TX
Originally Posted By: Wolf359

But that's 17 years away and Congress has a tendency to wait til it becomes a crisis to fix things. It's still considered the 3rd rail of politics so I think it'll get fixed.


Maybe in the next 17 years, a lot of baby boomers will die off and not be a huge burden on the system. Jus' sayin
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#4615579 - 12/27/17 09:57 AM Re: When do you plan on taking Social Security? [Re: ZZman]
2015_PSD Offline


Registered: 09/26/10
Posts: 7243
Loc: SE Texas
At the rate that SS has been raided/depleted/neglected, I have calculated that my withdrawal date will be "Dead + 1".
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#4615582 - 12/27/17 09:58 AM Re: When do you plan on taking Social Security? [Re: ZZman]
jonnied1 Offline


Registered: 10/16/16
Posts: 126
Loc: WV
About 4 1/2 years ago when I was 62 1/2.

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