I understand his decision clearly. It is much like mine{LOL} I am going to retire next year and I am gathering all the information on whether I should take Social Security now or wait til I am66?? These are big decisions. I am listening to everyone's advice but it will probably come down to the day I retire to decide. Mr Diallo I understand your pain!!
Diallo's Decision is much like mine
- Thread starter etowncatfan
- Start date
Took mine at 62 and don't regret a minute of it! Of course my company was gracious enough to cover my insurance till Medicare age
If you've saved enough and are smart with your spending then I'd take retirement ASAP, unless they're willing to pay you a million dollars more a year the following year if you can prove that you're capable of hitting a 3 pointer.
that's a long time. i'd collect now. of course i don't need to tell you that this is just my opinion.
I think you are very selfish and are just playing the Social Security Administration.
If your pension &/or 401k are where you want them, take your SS at 62. Otherwise it will take you 9 years to make up the difference in the money you will leave on the table between 62-66.2. Do the math my man...
Either way, good luck with your decision.
Do you plan to work after you retire from your present job? If so, you will only be able to earn $15,000 annually before you start to lose SSI benefits prior to FRA (full retirement age) Lose $1 of SSI for every dollar earned past $15K
FRA allows(full retirement age) unlimited income with no penalty.
Does you spouse work? What is her level of anticipated SSI? At FRA, the spouse can receive 50% of your scheduled SSI monthly.
Lots of issues to think about. Expected longevity, health, current need, do you have a spouse who will qualify as well, and some more. Good luck either way. I have about 10 to go before making that decision.
16920 and it's lose 1 for every 2 you earn over that amount.
I turn 66 next February but I already signed up.!!i'm still working and paying in so they take the penalty out up front based on my projected earnings. I will start drawing a reduced amount the last quarter of this year. I was told that because I am still working and paying in, when I turn 66 my amount I draw will be refigured with the penalty amount added back in.
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