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Vitality or not the checks keep coming as long as you are breathing.. for those concerned about the balance for a spouse vitality is irrelevant if delaying
I'm taking at 62. What I do should have no standing on what others decide to do for whatever reason. I believe I will be able to enjoy the money more at the younger age than getting more when I am older. I did the calculations and I believe I would be 79 or something like that before it equals out and I start getting less.
I'm OK with that because even if I make it that long, I won't be as active. I may not need the money at 62. That's OK, it will be invested for later then.
I'm 57 and I plan to be out of the job I have now within a year. I do not enjoy it and see no reason to still doing something I do not enjoy now that I do not absolutely have to. I will likely still work. It will be something I like doing. I sold cars many years ago. I enjoyed it. It was stressful working on commission and having kids and bills which is why I got out of it for something more steady but I could do that again and have no stress.
One person I worked with is a GM at a local dealer now and he's been bugging me to come there. Another dealer still has the same owner that tried to get me to work for him back in the day. I could easily slide in there. We just have to work out this Saturday thing. I don't want to work weekends any longer.
I'm taking at 62. What I do should have no standing on what others decide to do for whatever reason. I believe I will be able to enjoy the money more at the younger age than getting more when I am older. I did the calculations and I believe I would be 79 or something like that before it equals out and I start getting less.
I'm OK with that because even if I make it that long, I won't be as active. I may not need the money at 62. That's OK, it will be invested for later then.
I'm 57 and I plan to be out of the job I have now within a year. I do not enjoy it and see no reason to still doing something I do not enjoy now that I do not absolutely have to. I will likely still work. It will be something I like doing. I sold cars many years ago. I enjoyed it. It was stressful working on commission and having kids and bills which is why I got out of it for something more steady but I could do that again and have no stress.
One person I worked with is a GM at a local dealer now and he's been bugging me to come there. Another dealer still has the same owner that tried to get me to work for him back in the day. I could easily slide in there. We just have to work out this Saturday thing. I don't want to work weekends any longer.
No one should have to adjust their income upward if the delay ss if they can really afford to delay .. I have said this over and over .. if your plan is to first increase your draw 8 years later and not just lay out the the difference up front then in my opinion that is not a good plan ...
A good plan makes no difference in your income whether you delay or not ..only the make up of that income shifts from all your money to a combo of more ss and your money
#1 Retire at 62 and take early SS
Or
#2 Retire at 62 and don’t take SS and use other assets instead
#3 If you are choosing to continue working and thus not use neither SS nor other assets that’s a different comparison.
I will retire at 62 so my choices are 1 or 2, I have decided that for physical and mental health #3 would not be a good option for me long term.
Whatever you choose enjoy it retirement and good health won’t last forever and you can’t take your money with you
If you have a spouse then worrying about taking your money with you should not be an issue .... 80% of married men die married ..80% of married women die single. So doing what is best for your wife is the best path
If you have a spouse then worrying about taking your money with you should not be an issue .... 80% of married men die married ..80% of married women die single. So doing what is best for your wife is the best path
If you are married doing what is best for both of you should be the plan.That should be a private decision arrived by the couple and is not only one correct answer.
Vitality or not the checks keep coming as long as you are breathing.. for those concerned about the balance for a spouse vitality is irrelevant if delaying
Dementia sucks for everyone.
Having gone through that with my father-in-law, I already know my wife would rather enjoy more free time with me now than have a few bucks more after I'm no longer company.
No one should have to adjust their income upward if the delay ss if they can really afford to delay .. I have said this over and over .. if your plan is to first increase your draw 8 years later and not just lay out the the difference up front then in my opinion that is not a good plan ...
A good plan makes no difference in your income whether you delay or not ..only the make up of that income shifts from all your money to a combo of more ss and your money
I'm not 100% sure of your argument but I'm also not too worried about a "good plan". I'm going to do what I want to do. I'll be OK either way.
I'm not 100% sure of your argument but I'm also not too worried about a "good plan". I'm going to do what I want to do. I'll be OK either way.
My argument is it makes no sense when people say if they delay they don’t get to enjoy their ss money early on in retirement...that is a poor plan because anyone who has the choice to delay should not have to wait until ss kicks in to enjoy a bigger budget ..
In my opinion if you can’t take your full income day one by just laying out the ss difference up front day one then that is a poor plan and delaying really is not a good option.
A good plan keeps spending dollars constant regardless of how the composition of the income changes when ss kicks in
Having gone through that with my father-in-law, I already know my wife would rather enjoy more free time with me now than have a few bucks more after I'm no longer company.
The bigger income and balance for a spouse may or may not be if you delay ... more often not delaying and not spending down invested assets leaves a better deal for a spouse.
Statistically taking ss early and depending a bit more on markets and rates and less on longevity have produced higher income and balance for a spouse more often than not
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