U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 08-07-2017, 07:31 PM
 
2,470 posts, read 2,109,780 times
Reputation: 3623

Advertisements

Not retired, but soon - no definite date yet. Getting increasingly displeased at work, and trying to just hold on until medicare kicks in next year for me for health insurance. Though to be honest, I may just cry uncle before age 65 and just go with private health insurance for how ever many months it will turn out to be. (it will be less than 12, and I am counting down as we speak. I do worry quite a bit about #3. That one really scares me.
Reply With Quote Quick reply to this message

 
Old 08-07-2017, 08:28 PM
 
Location: San Francisco
16,430 posts, read 5,367,705 times
Reputation: 51426
#6 (drawing SS too soon) is my only regret. At the time, I had just learned that I have short telomeres. Telomere length is correlated with lifespan, though they don't know exactly how. Longer is better. Mine were in the lowest 20 percentile. I felt that since there was a reasonably good chance that I might not live as long as I'd hoped for, and because I was forced to retire at 60, that I might as well draw SS at 62.

Now I'm nearly 69 and as healthy as ever. If I could do it over again, I would have drawn down some savings to bridge the gap and waited for FRA instead.
Reply With Quote Quick reply to this message
 
Old 08-07-2017, 09:21 PM
 
Location: Planet Woof
3,139 posts, read 3,516,429 times
Reputation: 9889
No regrets. Life, or what's left of it, is too short for that. Enjoying every day.
Reply With Quote Quick reply to this message
 
Old 08-08-2017, 12:35 AM
 
13,345 posts, read 25,601,842 times
Reputation: 20596
Quote:
Originally Posted by BucFan View Post
Nobody on their deathbed has ever said "I wish I had spent more time at the office" have they?
I bet a lot of poor older single women have said so. In fact, I know that.
Reply With Quote Quick reply to this message
 
Old 08-08-2017, 05:24 AM
 
Location: Mount Airy, Maryland
10,485 posts, read 5,949,749 times
Reputation: 16194
Quote:
Originally Posted by Bayarea4 View Post
#6 (drawing SS too soon) is my only regret. At the time, I had just learned that I have short telomeres. Telomere length is correlated with lifespan, though they don't know exactly how. Longer is better. Mine were in the lowest 20 percentile. I felt that since there was a reasonably good chance that I might not live as long as I'd hoped for, and because I was forced to retire at 60, that I might as well draw SS at 62.

Now I'm nearly 69 and as healthy as ever. If I could do it over again, I would have drawn down some savings to bridge the gap and waited for FRA instead.
I would have made the same decision, congrats on outliving your projections. However your alternate pan would had you living on savings alone from age 60 until your FRA of 66. Many people can not do that without severly crippling their savings.
Reply With Quote Quick reply to this message
 
Old 08-08-2017, 06:09 AM
 
Location: RVA
2,172 posts, read 1,272,632 times
Reputation: 4492
If you can't do that without crippling your savings......then you can't afford to do that in the first place. So why bring it up? It literally is the same thing as a poor person stating "what I should have done was buy winning lottery tickets, not losing ones.". They can't and didn't so the statement says nothing except that they don't have enough money, and wish they did.

If Bayarea4 had the assets to have delayed filing, and at 69 still does and wishes they had filed later, then they still have the option to halt their SS, and pay back the previous year without interest, and start at 70. They will gain 2 years increase in SS. Essentially delaying at the end instead of the beginning. It costs nothing to look in to it.
Reply With Quote Quick reply to this message
 
Old 08-08-2017, 06:21 AM
 
71,867 posts, read 71,942,576 times
Reputation: 49413
Quote:
Originally Posted by Bayarea4 View Post
#6 (drawing SS too soon) is my only regret. At the time, I had just learned that I have short telomeres. Telomere length is correlated with lifespan, though they don't know exactly how. Longer is better. Mine were in the lowest 20 percentile. I felt that since there was a reasonably good chance that I might not live as long as I'd hoped for, and because I was forced to retire at 60, that I might as well draw SS at 62.

Now I'm nearly 69 and as healthy as ever. If I could do it over again, I would have drawn down some savings to bridge the gap and waited for FRA instead.
my mom died at 55 and may dad 70 . but at 65 i am as healthy as ever .

on most retirement forums the biggest regret is usually taking ss to soon most of the times .
Reply With Quote Quick reply to this message
 
Old 08-08-2017, 06:23 AM
 
71,867 posts, read 71,942,576 times
Reputation: 49413
Quote:
Originally Posted by Perryinva View Post
If you can't do that without crippling your savings......then you can't afford to do that in the first place. So why bring it up? It literally is the same thing as a poor person stating "what I should have done was buy winning lottery tickets, not losing ones.". They can't and didn't so the statement says nothing except that they don't have enough money, and wish they did.

If Bayarea4 had the assets to have delayed filing, and at 69 still does and wishes they had filed later, then they still have the option to halt their SS, and pay back the previous year without interest, and start at 70. They will gain 2 years increase in SS. Essentially delaying at the end instead of the beginning. It costs nothing to look in to it.
fidelity's ss optimizer had my wife doing that. it wanted her to suspend her benefit at her fra which she took at 62 and let it re-grow .

she is two years older than me so it had her taking it at 62 which she did . she suspends it at fra. at 70 she resumes it . i would be 68/10 months so i would file restricted application for 1/2 hers. at 70 i would file and she would get spousal added to hers .

we didn't actually do that . i filed for my check to start at 65 and she gets spousal added when i do
Reply With Quote Quick reply to this message
 
Old 08-08-2017, 06:27 AM
 
71,867 posts, read 71,942,576 times
Reputation: 49413
Quote:
Originally Posted by DaveinMtAiry View Post
I would have made the same decision, congrats on outliving your projections. However your alternate pan would had you living on savings alone from age 60 until your FRA of 66. Many people can not do that without severly crippling their savings.
most don't have enough in assets or income to delay so delaying is not a choice they have .

but in every discussion they will chime in as to why they didn't delay , yet they really never had that choice .

if you can't safely take your full amount day 1 and just advance yourself the ss and have to wait for ss down the road to take more , than you can't afford to delay .
Reply With Quote Quick reply to this message
 
Old 08-08-2017, 06:27 AM
 
Location: Florida
4,379 posts, read 3,718,272 times
Reputation: 4116
The list is good for those approaching retirement. Come up with an answer for each. Don't rush, take your time if you can.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top