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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.
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.
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.
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'.
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.
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
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.
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