SS Estimate Changed without any Earnings changes

[Perryinva]

Yeah, that’s the way I thought when I was 59. I’m filing just after turning 66 in a few months time. High inflation has a way of making even a real decent nest egg seem vulnerable. Passing up $3600/mo in order for it to increase $20 each month gets harder and harder to swallow, especially when $3600/mo is more than my original age 70 was not too many years ago. It’s a win, so I’m taking it.

[springfieldva]

Originally Posted by djplourd

I'm planning to wait until 67 or 70, mainly for survivor benefits for my spouse. She's 4 years younger than I am and even though we both have a variety of issues, statistically she should out live me.

I totally get that and think that's smart. Ideally, if we can delay it until 65 or 67 we'll do that, too. But if our choice is to take it at 62 or risk SS failing and getting nothing, then we'll take what we can get.

[djplourd]

Originally Posted by springfieldva

I totally get that and think that's smart. Ideally, if we can delay it until 65 or 67 we'll do that, too. But if our choice is to take it at 62 or risk SS failing and getting nothing, then we'll take what we can get.

I don't think SS will fail in any of our lifetimes. At some point in the not too distance future there will have to be benefit cuts unless the politicians finally get their $hit together.

Even with cuts, I still want the highest survivor amount for my wife. She has always been lower earner by a considerable amount. Her estimated SS at 62 is $880, at 67 $1,250, and at 70 $1,550. My estimates are $2,206, $$3,237, and $4,065.

I have multiple income streams that will continue into retirement. I consider anything we get from SS as extra $.