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Location: Was Midvalley Oregon; Now Eastside Seattle area
13,072 posts, read 7,511,991 times
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We took early SS, we needed the monthly income. I also was betting that the stock market would recover strongly ( 2010 and 2012). I also have GLWB annuities that functioned as a rolling put on a MF synthetic .SPY, for 10 years, Also do a little equities trading.
My health conditions do not project much past 80.
All is now good, since 2014. And very good since 2016. We are beginning to call the Income feature on the annuities for 2017 RMDd will call more deferred annuities for the next 1-4 years.
Haha - I remember something like that in elementary school called the "Look-It-Up" club! It was the dictionary and encyclopedia back then...now the entire internet.
Do you remember Funk and Wagnals Encyclopedia? You got it at the supermarket, one volume at a time. I read it all except for one volume my mother missed.
Do you remember Funk and Wagnals Encyclopedia? You got it at the supermarket, one volume at a time. I read it all except for one volume my mother missed.
That reminds me of time my father was posted overseas and we lived on my grandparent’s farm. That summer I read most of the world book encyclopedia.
You don’t loose the money. Your payment is upped once you reach full retirement age or quit working.
If a person decides to start to collect Social Security early at 62, he or she will get about 30% less than if they decided to start collecting Social Security at full retirement age (say at 67). Are you saying that if the person starts to collect Social Security at 62, and then reaches Age 67, then their monthly payment is upped by the 30% to what it would be if the person had waited to be 67 before starting to collect Social Security?
If a person decides to start to collect Social Security early at 62, he or she will get about 30% less than if they decided to start collecting Social Security at full retirement age (say at 67). Are you saying that if the person starts to collect Social Security at 62, and then reaches Age 67, then their monthly payment is upped by the 30% to what it would be if the person had waited to be 67 before starting to collect Social Security?
I was replying to someone who asked about working while collecting early social security. If they make over a certain amount, there social security payment is reduced. The amount it is reduced is recalculated and added back when they quit the job. If you are at full retirement age you can work and make what ever you want and not have your payment reduced.
I was replying to someone who asked about working while collecting early social security. If they make over a certain amount, there social security payment is reduced. The amount it is reduced is recalculated and added back when they quit the job. If you are at full retirement age you can work and make what ever you want and not have your payment reduced.
If a person decides to start to collect Social Security early at 62, he or she will get about 30% less than if they decided to start collecting Social Security at full retirement age (say at 67). Are you saying that if the person starts to collect Social Security at 62, and then reaches Age 67, then their monthly payment is upped by the 30% to what it would be if the person had waited to be 67 before starting to collect Social Security?
I took SS at 62.5 because we had 2 houses to support. We wanted to retire in SC and had the house but in 2008 we ended up not being able to sell our house for 2.5 years. So I got a job but lost it during the downturn after 1.5 years and at that age wasn't able to find another. Once unemployment ran out I had to take SS. DH waited until 66 and we thought about waiting longer but my concern was that if something happened to either of us we would lose 1/3 of that SS income. Therefore if we had already used up some retirement assets not only would we not have the third SS, we would also not have those assets either. We are not rich but are decently comfortable and don't live a life of spending all the time. Vanguard has calculated that with what we have and our spending either of us could live to at least 100 and be OK. I feel more comfortable with the retirements accounts that can't be taken away when one of us passes, than with using some of them up and then also losing SS income. Just my opinion. I supposed if you have a lot more in accounts (or other income like rentals, etc.) it wouldn't bother you to use up some of them waiting to take SS. I have a neighbor here in DE who sold a house in NJ and dropped their property taxes by $10,000 a year. Plus they have pensions and had higher paying jobs. They feel comfortable waiting. We both had college degrees but in western PA the salaries weren't high and taxes lower, so we don't.
there are a few topics i put a whole lot of time in to learning because i wanted to know all the ins and outs because i needed to .
i never like doing anything partially.so if i am going to commit the time and effort to learn something i want to LEARN it and in detail . i want to know all aspects and all views .
so there are a few areas i have all this knowledge i no longer have use for since i am now past that point .so if it is something i can help someone with i certainly will
And we all really appreciate your willingness to share that knowledge!
I know just sitting here reading this thread is making my head spin, so it is good to hear from those who have studied it for awhile.
And we all really appreciate your willingness to share that knowledge!
I know just sitting here reading this thread is making my head spin, so it is good to hear from those who have studied it for awhile.
LOL good one.
Poor MJ everyone picks on him. Well at least he is consistent and his facts are right. It would really suck if MJ used bogus numbers or bogus fake news stuff for his points.
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