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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, 03:19 PM
 
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the after inflation return on delaying for a couple where it is easier for one of them to see 90 can rival a balanced fund but with zero market risk .

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Old 08-23-2017, 03:22 PM
 
71,735 posts, read 71,853,273 times
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Quote:
Originally Posted by nicet4 View Post
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.
interesting breakout by age since things have changed since 2011 .

in 2015

age 62- 48 percent of women and 42 percent of men signed up for Social Security at age 62 in 2013, down from around 60 percent of women and 55 percent of men in 2005, CRR found.

Age 66. This is the age when people born between 1943 and 1954 are eligible to claim unreduced Social Security benefits. CRR found just over a third of men (34 percent) and a quarter of women (27 percent) sign up for Social Security benefits at their full retirement age, which is the second most popular age to claim payments. "When you take it at your full retirement age, which for a lot of people retiring today is 66, there are no reductions in benefits," says Christopher Rhim, a certified financial planner for Green View Advisors in Norwich, Vermont. For those who have a full retirement age of 67, you will get a 6.7 percent pay cut if you sign up for payments at age 66.

Age 70. Baby boomers can increase their Social Security benefit by 32 percent by waiting until age 70 to sign up, boosting that $1,000 Social Security payment to $1,320 per month. People born after 1959 will get 24 percent more by claiming payments beginning at age 70. However, only 4 percent of women and 2 percent of men hold out until age 70, according to CRR. "If the goal is to get as much Social Security income as possible, the way you get that is by claiming as late as possible," says Alicia Munnell, director of the Center for Retirement Research at Boston College. "If you want a higher Social Security benefit, wait until 70." After age 70 there is no additional increase for further delaying your Social Security payments.



https://money.usnews.com/money/retir...ocial-security
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Old 08-23-2017, 03:28 PM
 
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I will collect in six months on my 68th birthday.
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Old 08-23-2017, 03:30 PM
 
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i start in 9 days with the first check arriving in october for sept. .
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Old 08-23-2017, 03:42 PM
 
Location: Tucson Arizona
3,906 posts, read 1,660,529 times
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age 59. They said I've been disabled since age 50 (huge medical problem), but I didn't file until later because I thought I would get better. Missed out on 7 years of payments, shoot!
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Old 08-23-2017, 04:04 PM
 
Location: Colorado...
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Quote:
Originally Posted by mathjak107 View Post
i start in 9 days with the first check arriving in october for sept. .
At what age? Given your comments on market vs longevity risk, I am curious what you decided to do.

I am 60, as is my wife. For the longest time I assumed we would wait, but I don't know anymore. We don't really "need" the money, but when I look at the breakeven ages, I am now leaning towards taking the payments earlier...if not at 62, then soon thereafter.
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Old 08-23-2017, 04:07 PM
 
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65 . it was a good balance of market risk , longevity risk and meshed nicely with the bit of consulting work i do . it also coincided with medicare so i am covered under hold harmless
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Old 08-23-2017, 04:16 PM
 
Location: Grove City, Ohio
10,137 posts, read 12,395,557 times
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A few years ago I looked at collecting at 66 and saving the entire check as I was still working.

I would have received around $2,300 so over four years the amount saved would be a nice $110k but with earned income 85% of my benefit would have been subject to federal income tax and I it didn't make sense to me. By waiting to 70 and then quitting work we'll pay 0% on our combined social security benefits.
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Old 08-23-2017, 04:25 PM
 
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there are some things you can't put a price on . like working another 8 years to us . we do a day a week and enjoy it but we have 6 days a week of freedom . if we want to do something we don't even have to work that day .
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Old 08-23-2017, 04:29 PM
 
Location: Saint Johns, FL
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Didn't answer since I am not collecting. Age 66 and 2 months and waiting till age 70. Maximizing income for surviving spouse is the goal, not maximizing revenue collected.
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