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Old 04-14-2007, 07:39 PM
 
Location: On the plateau, TN
15,205 posts, read 10,599,166 times
Reputation: 9984

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Quote:
Originally Posted by cdelena View Post
This is an excellent summary of the SS issues being discussed...

http://www.foxnews.com/story/0,2933,265980,00.html

Sometimes it is good to start SS early but often better to wait. Read this article fully and then comment.

Cdelena, thanks. That was the break-even point I was looking for ( 11 years ) Plus even longer with investments.
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Old 06-27-2007, 08:28 PM
 
Location: Midwest
4,259 posts, read 7,146,208 times
Reputation: 7170
I ran the numbers roughly, and it will take me from age 62 to about 78-80 to get to the break even point. IMO it would be wiser for me to begin collecting at 62 and bank it.
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Old 06-27-2007, 11:02 PM
 
Location: Deep In The Heat Of Texas
2,639 posts, read 2,459,593 times
Reputation: 700
Quote:
Originally Posted by yellowsnow View Post
The day I hit 62! When you're old, nothing is for sure. I'd rather collect a little than nothing at all.
Amen!!
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Old 06-28-2007, 02:07 AM
 
Location: Oregon Coast
1,848 posts, read 6,248,832 times
Reputation: 1383
we decided to run the numbers for approx. retirement amounts plus social security. My husband and I have pretty much decided we'll collect S.S. at 62.
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Old 06-28-2007, 07:51 PM
 
Location: New Orleans, LA
1,730 posts, read 3,139,921 times
Reputation: 2955
I have no idea what the future of social security may be, except that I am pretty sure that the cost of living increases probably will not keep up with inflation. It is hard to know what age is best to begin getting social security.

Extreme longevity runs in my family. I am 59, and plan to retire at 62. I am planning to take my social security at my full retirement age of 66. No matter what we choose, it's a gamble since we really don't know what will happen with SS.
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Old 06-29-2007, 03:45 PM
 
1,080 posts, read 4,168,682 times
Reputation: 598
Default I'm collecting at 60

And don't forget if your a widow you can collect at 60, which I already applied for and will get 71.5% of late hubby's SS, plus pension.......Wow
life is good

Didn't remarry because I would have lost the right to collect at age 60, so I broke many hearts and left them crying at the chapel, so I could collect SS.
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Old 06-29-2007, 08:42 PM
 
Location: New Orleans, LA
1,730 posts, read 3,139,921 times
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Songbird, as a divorcee after 23 years of marriage, I can get 50% of my ex-husband's social security (without affecting what he gets). But, my own social security is going to be slightly more than that so I am not going to bother!! I am glad you are doing so well. It must have been tough for you to lose your husband before you were even 60.
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Old 06-30-2007, 01:25 PM
 
1,080 posts, read 4,168,682 times
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Default Nola2sgf

Its not easy..........I was widowed in 1994 with three children under the age of 10......no family to help, no friends, no income.........it was a struggle
and believe me there were times I just wanted to throw in the towel as they say, but I have pressed on and survived as have my three kids, two are in business together and the last just graduated this past May and will go on to college. If I can survive on what I receive.........anyone can. I never applied for food stamps/welfare and still keep a roof over our heads.
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Old 06-30-2007, 06:15 PM
 
Location: New Orleans, LA
1,730 posts, read 3,139,921 times
Reputation: 2955
Quote:
Originally Posted by Songbird42 View Post
Its not easy..........I was widowed in 1994 with three children under the age of 10......no family to help, no friends, no income.........it was a struggle
and believe me there were times I just wanted to throw in the towel as they say, but I have pressed on and survived as have my three kids, two are in business together and the last just graduated this past May and will go on to college. If I can survive on what I receive.........anyone can. I never applied for food stamps/welfare and still keep a roof over our heads.
That must have been terrifying! It sounds like you raised three wonderful kids despite everything. Congratulations on that. And congratulations on doing all of that without food stamps or welfare. That is a tremendous accomplishment.
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Old 07-02-2007, 03:12 PM
 
13,773 posts, read 33,906,848 times
Reputation: 10561
The one thing you might want to do is call SS and ask what your benefits will be once you get close to 62.. The sheet they send you is not the amount you will receive necessarily. I have a friend who was going to retire and found out that what they said she would get on that paper was much higher than what she would collect if she decided to leave now at 62.

I get more collecting my late husband's SS than I would if I collected mine at age 62, even though the paper said otherwise.
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