Hurley Henson • 4 years ago
I agree with you James. Who wants to continue working for a crappy boss until they are too old to enjoy themselves?
IMissLiberty • 4 years ago
It depends on what you do with the "early" money, doesn't it? I'm investing mine in gold and silver, which I expect to multiply over the next few years. I'm hoping to make my future SS payments look even more like chump change than they do, now. I've been trying to opt out of SS my entire working life. If it's such a good idea, why do we have to be forced into it
SS is unfair to those who start working in high school and never go to college because they can't afford it. They work for less pay, without getting any extra credit for having worked and paid in to the system for as many as 10 or 15 years longer than others. On top of that, they often live a shorter life, and may never see a penny. And adding insult to injury, can't leave the funds to their children (true social security). SS is a one-size-wins a few votes, and gives politicians a tool for manipulation of the population.
Jim B • 4 years ago
If it takes until I'm 78 and a half to recoup what I'm getting starting at 62 vs 67 then there is not a lot of upside to waiting until 67, even if 85 is the normal lifespan. Especially if at 62 I'm debt. free.... that is... other than the government tax extortion racket, which should be considerably less after retirement. Nice if you have a benefits plan stashed away, pension for those lucky enough, other accumulations from a lifetime of working.
Alleged-Comment • 4 years ago
If you take SS early just calculate it from your retirement age when you retire. A good place is 65 when you have to pay for Medicare.
So 65 - 62 = 3 years. Times the 3 years of the SS payment and that's the money you'll be missing. From there you can calculate all kinds of scenarios.
Mostly how long you'll think you'll live. LOL!
See if which way works best for you. Most people die around 85 and you can use that as the limit. ;)
I took it at 62 and haven't regretted it at all. I didn't realize I wouldn't get a check for three months because of the way they use your birthday, but I didn't really care and love not having to listen to other people ordering me around, attending endless circular staff meetings, and just having to put up with the normal daily overdoses of BS at work. I did have a military retirement check coming in, so it wasn't that big a deal for me.