Your age question

[trainer]

Ok so if your posting your ages, when will you collect social security or when did you start collecting ? and why?

 

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[old texan]

Ok so if your posting your ages, when will you collect social security or when did you start collecting ? and why?

hello trainer - i m the person who started the age thread because i was curious and wanted to know - it s interesting to me - i started collecting social security in 2016 because i could

 

[Treasure_Hunter]

I started SS at 66, I figure out how much money I would miss between 66 and 70 if I waited till I was 70, added it up, then divided it by how much extra I got by waiting till I was 70 and that gave me how many months to break even, divided that amount by 12 to get years it would take me almost 12 years to break even so that meant I wouldnt break even till I was 82, said screw it I might not live that long and started SS at 66, but I continued working till I was 71.

 

[metrotec]

I started ASAP, cause I didn't figure I'd live much longer. WRONG
I'm in my mid-late seventies.
If you can hold off collecting, say at 62-65? cause you have another retirement plan, do so; because the longer you wait the more your SS Check will be.
BUT IF """"" you die, SOL $$$$ goes to one of the thousands crossing illegally. At lest that's what the D want to do.
Health would pay a part on collecting also.

 

[old texan]

I started SS at 66, I figure out how much money I would miss between 66 and 70 if I waited till I was 70, added it up, then divided it by how much extra I got by waiting till I was 70 and that gave me how many months to break even, divided that amount 12 to get years, it would take me almost 12 years to break even so that meant I wouldnt break even till I was 82, said screw it I might not live that long and started SS at 66, but I continued working till I was 71.

an old friend of mine said a fast nickle beats a slow dime - i think he was right - kinda jives with einstein's theory of relativity

 

[McKinney_5900]

Right at 62, as soon as I was eligible. "Stuff happens" and people can die early.

 

[DeepseekerADS]

I never intended to retire, loved my career - construction engineering = 67 projects in 29 states. But then had a scheduled appointment at the VA, and found my large intestines were "corrupted". So, found myself wearing diapers due to only 6" of large intestines remaining. Thus I retired. Physically back to normal now, and happily retired for 7 years now.

 

[newnan man]

I started collecting SS at 66 1/2. I'm still working and just bank my SS check every month. I went in to give notice & my boss gave me a new company truck & a raise if I stayed on. That was almost 2 yrs ago. I may work at least another year or so, not sure yet.

 

[Treasure_Hunter]

I started collecting SS at 66 1/2. I'm still working and just bank my SS check every month. I went in to give notice & my boss gave me a new company truck & a raise if I stayed on. That was almost 2 yrs ago. I may work at least another year or so, not sure yet.

That was what I was doing till I was laid off at 71.

 

[relicmeister]

I’m almost 66 and plan to start collecting at 661/2 and banking the whole thing while I work full time another 8 years ( that’s the plan but no guarantees of course). This is bc I have no pension and started 401k just recently. This appears to me to be my best option.

 

[ticndig]

I retired at age 57 with a full pension and will start SS next year at age 65

 

[oldmxrat]

Retired at 53, started taking my SS at 62. No regrets.

 

[Mackaydon]

When I became eligible, I took it-- and have no regrets.
Don......

 

[newnan man]

I’m almost 66 and plan to start collecting at 661/2 and banking the whole thing while I work full time another 8 years ( that’s the plan but no guarantees of course). This is bc I have no pension and started 401k just recently. This appears to me to be my best option.

I've been construction my whole working life, no pension so you have to pay yourself 1st. Put money away, lots of it, live with in your means, get debt free etc. I buy silver and put it in my safe hoping it will be a hedge against inflation. I guess that should work for anyone.

 

[Emil W]

Retired at age 44. I'm now 63 and started collecting SS at 62. Since I don't need the money I just let it accumulate. I could have waited until I turned 70 but have concerns I wouldn't live long enough to make the accumulated difference matter.

 

[pepperj]

Retired at 48 Started to collect the CPP (Canada Pension) @ 60
Just mailed he application papers for the OAS (Old Age Security) eligible at 65
Better in my account, than theirs.
They still tax it-regardless
That's a whole different subject.
Meanwhile we just bend over touch our toes, and they don't say thank you-

 

[McKinney_5900]

Retired at 53, started taking my SS at 62. No regrets.

I also retired early, 54. Technology stock market funds I'd built up working for all the years back then, made it easy to cruise to 62 and take SS. I just got lucky, the way it all unfolded. Timing was right for me. Covid back then woulda changed everything.

My father took SS at 62. He lived to 75. I think he was my model for instantly taking SS at 62. He was always happy.

 

[trainer]

Now this is what im afraid of im turning 62 next year and you guys are giving me a good heads up on things, if I look at this country now its falling apart real fast especially these people coming to take what we earn to live for,Im not thinking straight so I appreciate everyones response
(BUT IF """"" you die, SOL $$$$ goes to one of the thousands crossing illegally. At lest that's what the D want to do.
Health would pay a part on collecting also.) thanks metro same thought

 

[metrotec]

Afraid SS won't be enough; turn your hobby into cash
Turn your stories into $$. Everyone has a story to tell. If you can't make a good paragraph, find a friend who can.
Yard sale; when you're that old, you have 2 of everything and so do the kids. They don't want your stuff.
Flea market, or swap meet in some areas. Meet new friends and that usually leads to new ideas.
Even when on SS , after a certain age, you can make all the $$ you want/need, no taxes on SS.
Got a friend who makes $100,000+ selling little ankle biters. Not a puppy mill, very well ran and a waiting list. Auctions, storage lockers, estate sales etc. I/we paid for an Alaskan cruise.
Can you draw, paint? oils/watercolors
Endless. Get off the couch and DO something. The last years are the BEST YEARS. Gotta hustle

 

[Treasure_Hunter]

Afraid SS won't be enough; turn your hobby into cash
Turn your stories into $$. Everyone has a story to tell. If you can't make a good paragraph, find a friend who can.
Yard sale; when you're that old, you have 2 of everything and so do the kids. They don't want your stuff.
Flea market, or swap meet in some areas. Meet new friends and that usually leads to new ideas.
Even when on SS , after a certain age, you can make all the $$ you want/need, no taxes on SS.
Got a friend who makes $100,000+ selling little ankle biters. Not a puppy mill, very well ran and a waiting list. Auctions, storage lockers, estate sales etc. I/we paid for an Alaskan cruise.
Can you draw, paint? oils/watercolors
Endless. Get off the couch and DO something. The last years are the BEST YEARS. Gotta hustle

There is taxes on SS, if your combined income, yours or yours and wife's combined is over $32k a year, 85% of your SS becomes taxable income.