Quote:
Originally Posted by selhars
No doubt about it those are two different things.
I discuss this with a couple of coworkers -- one who's 67 waited until his age 66 FRA, another who's 73 now and took it early at 65, and who are still working full time. The 67 year old who'll be 68 this year says he's couldn't wait to start collecting, meaning he was chomping at the bit. He's a bird-in-the-hand guy, and wanted "his money." You just can't convince him that waiting could be better. Taxation or not, they just won't even consider that waiting MIGHT have been better. One is making 70K a year. Another, is making about 150K a year, collecting ANOTHER pension, AND getting Soc Sec. You should see their eyes gleam when they talk about collecting their Soc Sec.
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In your narrative is a very important consideration. What will that SS benefit be on top of? Nothing? Annuities, pensions, a spouses benefit on their own or investments. SS on top of and in addition to 120k without has a different impact than on top of 20K without. The margin of error is a tad different and ability to delay much different.