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Old 06-07-2016, 07:20 PM
 
Location: NC Piedmont
3,911 posts, read 2,878,179 times
Reputation: 6291

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Quote:
Originally Posted by Pretzelogik View Post
ASAP no one knows what will happen tomorrow.
But I am hoping for a lot of "other days"...
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Old 06-07-2016, 07:20 PM
 
2,294 posts, read 1,560,729 times
Reputation: 2737
Quote:
Originally Posted by Perryinva View Post
We gotta install microwave ovens custom kitchen deliveries
We gotta move these refrigerators we gotta move these color T.V.'s.
I shoulda learned to play the guitar
I shoulda learned to play them drums
Look at that mama she got it stickin' in the camera
Man we could have some fun
Money for nothing and your chicks for free

That song spoke to me in college and even more today.

Wish I had the talent to live that way...

"I spent half my money on gambling, alcohol and wild women. The other half I wasted.


― W.C. Fields
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Old 06-08-2016, 02:55 AM
 
71,550 posts, read 71,712,424 times
Reputation: 49155
Quote:
Originally Posted by Perryinva View Post
We gotta install microwave ovens custom kitchen deliveries
We gotta move these refrigerators we gotta move these color T.V.'s.
I shoulda learned to play the guitar
I shoulda learned to play them drums
Look at that mama she got it stickin' in the camera
Man we could have some fun
Money for nothing and your chicks for free

That song spoke to me in college and even more today.

Wish I had the talent to live that way...
i used to be a pro drummer but got out of the business decades ago hating the business and anything to do with it . my wife kind of pushed me a bit in to picking up the sticks again in retirement and after all these decades my love for the drums came back .

i have been putting in 2 hours a day now for the last 6 months just getting my hands back in shape . the group i was with hooked up through facebook and we are currently hoping to be ready to hit the studio next month for the first time in 35 years .
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Old 06-08-2016, 03:05 AM
 
Location: Central Massachusetts
4,800 posts, read 4,846,832 times
Reputation: 6379
Quote:
Originally Posted by mathjak107 View Post
i used to be a pro drummer but got out of the business decades ago hating the business and anything to do with it . my wife kind of pushed me a bit in to picking up the sticks again in retirement and after all these decades my love for the drums came back .

i have been putting in 2 hours a day now for the last 6 months just getting my hands back in shape . the group i was with hooked up through facebook and we are currently hoping to be ready to hit the studio next month for the first time in 35 years .
Then you will not have time for us anymore.
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Old 06-08-2016, 03:09 AM
 
71,550 posts, read 71,712,424 times
Reputation: 49155
i am not a tv watcher so i usually spend my time on line vs watching tv so there is always time .
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Old 08-29-2016, 07:42 AM
 
Location: Tampa, FL
27,798 posts, read 26,209,546 times
Reputation: 14611
Quote:
Originally Posted by Ellwood View Post
As you implied, it is up to each personal situation when to collect SS. My father started collecting at age 62 and said the 10 years following were the best years. He and my mother traveled and were on the go constantly. At 72 my mom was limited with rheumatoid arthritis. She and dad moved to an independent living facility, where she passed away at 82. Dad lived until 94. We retired at 62 and have enjoyed every minute, traveling, kayaking, dancing, etc. My spouse was recently diagnosed with RA, so our lives will change. IMO take the money and GO! I know too many people who never lived until 70 nor once they were 70 were physically able to do the things they wanted. Why work your entire life to save for retirement when you'll spend it in a chair?
My 79 yr old parents are healthy but they have dramatically decreased what they do and are constantly discussing that they don't know where to spend. They waited to collect SS. They too were very active 60yr olds. They have long term care covered. Might be worth taking early SS and enjoy phase I of retirement. I have 9 yrs to decide.

Last edited by BucFan; 08-29-2016 at 08:08 AM..
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Old 08-29-2016, 08:00 AM
 
71,550 posts, read 71,712,424 times
Reputation: 49155
delaying ss is letting us draw more in phase one of retirement while we delay . the larger checks will refill us later .

ss has zero sequence risk so compared to what you have to keep dry for worst case scenario's drawing an income on your own . ss has no such need since it has zero sequence risk so it lets you draw more both before and after it kicks in assuming you have the resources to have a choice .
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Old 08-29-2016, 11:13 AM
 
58 posts, read 36,220 times
Reputation: 62
Quote:
Originally Posted by mathjak107 View Post
delaying ss is letting us draw more in phase one of retirement while we delay . the larger checks will refill us later .

ss has zero sequence risk so compared to what you have to keep dry for worst case scenario's drawing an income on your own . ss has no such need since it has zero sequence risk so it lets you draw more both before and after it kicks in assuming you have the resources to have a choice .
Nice to see you back
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Old 08-29-2016, 11:36 AM
 
6,880 posts, read 7,278,655 times
Reputation: 9786
Isn't it really just a question of whether one needs (or would like) the earlier SS payments so they can live the retirement lifestyle they want?

IF all goes as planned, I won't need the earlier SS payments to live the lifestyle I want. So I do plan to wait. And IF I change my mind, I can. Sometimes I think people act like they can't change their mind and start the payments anyway. So what, you thought you'd wait until 70, and it turns out that after thinking about it from 66 to 67, you start the payments. All right it was only one year. Your benefit is higher. You haven't "lost" that much time or money….move on.

Of course no one knows if they'll live to 94 as my aunt did, or 89 as my mom did -- but IF they'd waited until 70 to collect, they would have collected more money. BUT would they have been able to live the lifestyle they wanted before then? They didn't even START slowing down until they were 80. So collecting at 70 would have meant more money -- AND they were still active then.

A money advisor on the radio just the other day said he advises clients to wait -- if they can. Especially if they're still working. Yet all my coworkers (making more than 100K in salary) who were eligible at 66, are taking the FRA money. They're clearly the 'bird in hand' types. Yet they'll complain about the taxes they're paying. Is the money coming in handy sure. But do they NEED it…even THEY admit, they don't NEED it. But you'd think it was gold the way they giggly talk about getting that extra money.
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Old 08-29-2016, 04:59 PM
 
Location: Mount Airy, Maryland
10,460 posts, read 5,926,819 times
Reputation: 16156
So anyway this subject has been discussed at length and I came away believing I am better off living off of my 401 and delaying my SS. But here are the numbers.


I looked at my benefit at 65 (my FRA is 66/6) and learned that they increase approximately $13 for every month I wait from that point on or $156 a year increase. However I will need to supplement that lost income of approximately $2,000 a month so now I am withdrawing $24,000 additional from my 401. At $156/year it would take me 100 years to recover the $20,000.


OK I'm at the beach and may not have all my cylinders firing but what am I missing here?
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