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View Poll Results: At what age did you start receiving social security?
Before 62 13 8.84%
62 63 42.86%
63 6 4.08%
64 7 4.76%
65 11 7.48%
66 22 14.97%
67 4 2.72%
68 4 2.72%
69 1 0.68%
70 13 8.84%
After 70 3 2.04%
Voters: 147. You may not vote on this poll

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Old 08-23-2017, 09:04 AM
 
708 posts, read 502,706 times
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Quote:
Originally Posted by Escort Rider View Post
O.K., I'll take the bait. How can anyone collect Social Security "before age 62"?
They cannot unless it is disability.
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Old 08-23-2017, 09:06 AM
 
71,612 posts, read 71,751,865 times
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survivor benefits can start at 60
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Old 08-23-2017, 09:43 AM
 
Location: The South
5,225 posts, read 3,637,448 times
Reputation: 7911
I've been drawing SS since age 62 and now I'm 80. I want to express my thanks to all the good folks paying my SS.
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Old 08-23-2017, 11:35 AM
 
1,090 posts, read 490,434 times
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Quote:
Originally Posted by janetvj View Post
62. I am less interested in getting back more over the long run by waiting than I am in being able to spend the money while I'm young and healthy enough to be able to enjoy life now. My pension covers the necessities, but the extra $$$ from SS permits me to travel more and to eat out and otherwise enjoy life. I hope I live a long enough life that I would have ended up with more money by waiting, but what good is a few extra dollars when I'm 80 if I'm not healthy enough to spend it? Nothing is guaranteed.
Quote:
Originally Posted by mathjak107 View Post
generally the choice between delaying or early is not going to be about breaking even .

if you are living off your portfolio it is about do you want to be more dependent on markets ,rates and inflation for 8 years and as much as 70% less dependent for what could be decades latert ? or more dependent on longevity .

it boils down to more market risk or more longevity risk . take your pick .
I'm still a long ways away from collecting SS, but these are all considerations for me. I'm in one of those cohorts where the no-brainer conventional wisdom is to delay as long as possible. However, when I actually calculated the break-even years based on my projected benefit amounts (and playing with discount rates), it doesn't happen until around age 80 or later. My grandparents who have passed away so far have died at 73, 71, and 73. The one remaining is 79, not sure how much longer she has. Good health does not seem to run in my family. So "living into my 90's" would not be an entirely safe assumption at this point.

Obviously, it's still too far out to tell, but I'm not comfortable basing my retirement planning around "wait until 70 to collect SS" (assuming that's even an option by then).
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Old 08-23-2017, 11:48 AM
 
Location: Florida
4,365 posts, read 3,702,696 times
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Quote:
Originally Posted by IndyDancer View Post
I'm still a long ways away from collecting SS, but these are all considerations for me. I'm in one of those cohorts where the no-brainer conventional wisdom is to delay as long as possible. However, when I actually calculated the break-even years based on my projected benefit amounts (and playing with discount rates), it doesn't happen until around age 80 or later. My grandparents who have passed away so far have died at 73, 71, and 73. The one remaining is 79, not sure how much longer she has. Good health does not seem to run in my family. So "living into my 90's" would not be an entirely safe assumption at this point.

Obviously, it's still too far out to tell, but I'm not comfortable basing my retirement planning around "wait until 70 to collect SS" (assuming that's even an option by then).
Yes longevity should be considered.

My thinking is if you can afford to delay collecting SS you should do it. If you die before the break even point you will never know. If you have a spouse they can collect your amount if it is higher so there is still a win.

An exception might be for a married couple with one spouse having minimal benefits. They should probably collect when they retire.
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Old 08-23-2017, 01:43 PM
 
Location: Towson, MD
189 posts, read 106,779 times
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Quote:
Originally Posted by Southern man View Post
I've been drawing SS since age 62 and now I'm 80. I want to express my thanks to all the good folks paying my SS.
You're welcome!
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Old 08-23-2017, 02:11 PM
 
Location: Mount Airy, Maryland
10,463 posts, read 5,930,681 times
Reputation: 16159
I did not know my wife could file at 60, her current age. As I am 58 can she file against my earnings now or would she have to wait until I would have been eligible in 4 years? Can I assume she would receive my age 62 benefit if she files when I would have been 62 (she would be 64)?
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Old 08-23-2017, 02:24 PM
 
Location: Grove City, Ohio
10,134 posts, read 12,387,762 times
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Quote:
Originally Posted by DaveinMtAiry View Post
I did not know my wife could file at 60, her current age. As I am 58 can she file against my earnings now or would she have to wait until I would have been eligible in 4 years? Can I assume she would receive my age 62 benefit if she files when I would have been 62 (she would be 64)?
I believe she can only file if she is a widow. Not good for you.

In May, 2016 the rules on social security changed regarding the file and suspend. That no longer happens.

Compare the poll now to what it was in 2011.



The big difference I see is a much higher percentage waiting until 70.
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Old 08-23-2017, 02:30 PM
 
Location: Miraflores
786 posts, read 894,545 times
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First son started collecting at 10, second son started at 8 mos.
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Old 08-23-2017, 02:31 PM
 
71,612 posts, read 71,751,865 times
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Quote:
Originally Posted by DaveinMtAiry View Post
I did not know my wife could file at 60, her current age. As I am 58 can she file against my earnings now or would she have to wait until I would have been eligible in 4 years? Can I assume she would receive my age 62 benefit if she files when I would have been 62 (she would be 64)?
nooooooooooooo SURVIVOR BENEFITS ARE 60 NOT RETIREMENT BENEFITS .

she can only file at 62 and she only gets her own benefit .

when you file if 1/2 your full is more than her full she will get an adjusted difference added to hers .
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