Welcome to City-Data.com Forum!
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 12-10-2018, 05:47 AM
 
105,860 posts, read 107,840,851 times
Reputation: 79455

Advertisements

Reply With Quote Quick reply to this message

 
Old 12-10-2018, 05:50 AM
 
4,142 posts, read 3,872,158 times
Reputation: 10886
I think the stats are skewed a bit as many in the past could retire at 62 as many companies used to cover medical insurance until Medicare kicked in. Not anymore so many will have to wait until 65 and that will be when the majority are collecting.
Reply With Quote Quick reply to this message
 
Old 12-10-2018, 05:56 AM
 
105,860 posts, read 107,840,851 times
Reputation: 79455
i agree , medical was not as big an issue even on your own .
Reply With Quote Quick reply to this message
 
Old 12-10-2018, 06:25 AM
 
1,655 posts, read 1,893,336 times
Reputation: 7139
I also started my S.S. At 62. I am now 71+ and have ZERO regrets.

Like the OP I am blessed to be pretty healthy, to-date.

I did sign on for a Medigap supplement this Fall.

I had a health hiccup with cellulitis last Spring that cost quite a bit out-of-pocket, so the zero-pay-out Medigap plan I chose is now making sense.

I rolled the dice for all these years and saved a lot of money but, as the saying goes, "all good things must come to an end sometime"
Reply With Quote Quick reply to this message
 
Old 12-10-2018, 06:32 AM
 
362 posts, read 262,260 times
Reputation: 783
Quote:
Originally Posted by jasperhobbs View Post
It looks like delaying is better if you live to a ripe old age.
" IF "

My Wife has a saying she tells me from time to time "If my Aunt had a moustache, she would be my Uncle"

Life is not a guarantee.

And the way the Social Security system is going, that may not be a guarantee.

I will have, if the Social Security system stays the way it is(intact), collected a 5 FIGURE(XX,XXX)amount, up to the age for collecting the full amount. So, by that time, I figure I won't feel like I am missing out on the extra.

Like the ole commercial goes "I have a cash settlement, but I need cash now"
This applies to me, and probably to the vast majority of us.
Reply With Quote Quick reply to this message
 
Old 12-10-2018, 06:36 AM
 
4,142 posts, read 3,872,158 times
Reputation: 10886
Quote:
Originally Posted by txwolfman View Post
" IF "

My Wife has a saying she tells me from time to time "If my Aunt had a moustache, she would be my Uncle"

Life is not a guarantee.

And the way the Social Security system is going, that may not be a guarantee.

I will have, if the Social Security system stays the way it is(intact), collected a 5 FIGURE(XX,XXX)amount, up to the age for collecting the full amount. So, by that time, I figure I won't feel like I am missing out on the extra.

Like the ole commercial goes "I have a cash settlement, but I need cash now"
This applies to me, and probably to the vast majority of us.
Yes, you do have to figure in the amount you collected retiring at 62 as opposed to waiting. Also, there is a non-cash value being able to retire at 62. Like no more work, bosses or annoying co workers.
Reply With Quote Quick reply to this message
 
Old 12-10-2018, 07:01 AM
 
362 posts, read 262,260 times
Reputation: 783
Quote:
Originally Posted by jasperhobbs View Post
Yes, you do have to figure in the amount you collected retiring at 62 as opposed to waiting. Also, there is a non-cash value being able to retire at 62. Like no more work, bosses or annoying co workers.
I really, really enjoy, as you say "non-cash value".

I really like the fact that, when we go on vacation, we don't have to worry about being back at a certain time, or get fired, docked pay, or harassed. The elimination of that stress in itself is 'Priceless'.
Reply With Quote Quick reply to this message
 
Old 12-10-2018, 07:11 AM
 
1,582 posts, read 1,176,519 times
Reputation: 6716
So many reasons for deciding when to retire. I opted to work to FRA, filed for SS 7 months later and it worked out well. We are all different, but one big reason I delayed is that we wanted more financial options for life's little surprises. For us, it turned out to have been a smart move; we recently had to make a big decision as to when to move into our final retirement home, and we opted to wait until next spring. If we had lower income, we would not have been able to afford this choice.

Bottom line is that we should all do what works for us personally and not worry about what others are doing. Comparison removes joy from life, and that is something that isn't easily bought.
Reply With Quote Quick reply to this message
 
Old 12-10-2018, 07:32 AM
 
105,860 posts, read 107,840,851 times
Reputation: 79455
Quote:
Originally Posted by txwolfman View Post
I really, really enjoy, as you say "non-cash value".

I really like the fact that, when we go on vacation, we don't have to worry about being back at a certain time, or get fired, docked pay, or harassed. The elimination of that stress in itself is 'Priceless'.
the flip side is many retirees trade for new stresses .

since the markets or rates are providing a good portion of their draw they worry about those things now . or they sweat every unexpected bill that hits them .

there is the health stress and long term care stresses in the equation .

we end up usually trading one stress for another type in life
Reply With Quote Quick reply to this message
 
Old 12-10-2018, 07:39 AM
 
362 posts, read 262,260 times
Reputation: 783
Quote:
Originally Posted by MichiganGreg View Post
So many reasons for deciding when to retire. Bottom line is that we should all do what works for us personally and not worry about what others are doing. Comparison removes joy from life, and that is something that isn't easily bought.
Amen!

I heard once, life is dictated by 'the wants and the needs'
All of us have some of the same needs, but not all of us have the same wants.
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

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - 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, 36, 37 - Top