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36 members (kyles, MoeBuck, StateLine, MikeP, 000buck, Fbw93, cartervj, outdoorguy88, Narrow Gap, Skullworks, wareagle22, Obsession, PikeRoadHunter, AUjerbear, Josh3, MCW, BPI, Young20, 3Gs, 7mmSTW, mopar, Bama-66, fur_n_feathers, mjs14, janiemae, Fishminer91, gobblebox, gregnbc, catdoctor, coosabuckhunter, 6 invisible),
734
guests, and
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Key:
Admin,
Global Mod,
Mod
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Joined: Nov 2011
Posts: 5,794 Likes: 38
12 point
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12 point
Joined: Nov 2011
Posts: 5,794 Likes: 38 |
was he an illegal alien? if so he's probably telling the truth
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Joined: Sep 2001
Posts: 1,247 Likes: 18
8 point
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8 point
Joined: Sep 2001
Posts: 1,247 Likes: 18 |
Taking benefits at 62 or any age after that set your benefit. Not true IF you continue to work after beginning to draw. Once you fully retire your contributions that you continued to make after you began drawing will be calculated and your new benefit will go into effect. There is some really bad info in this thread. Some of y'all need to go directly to the SS website and read it for yourself. https://www.ssa.gov/benefits/retirement/matrix.html#:~:text=After%20you%20reach%20your%20full,increase%20in%20your%20benefit%20amount. This in spades.
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Joined: Dec 2013
Posts: 28,317 Likes: 564
a.k.a. Dingle Johnson
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a.k.a. Dingle Johnson
Joined: Dec 2013
Posts: 28,317 Likes: 564 |
Here's the thing about the "break even age" let's just say that you live a long a fruitful life and live beyond that age... What have you gained?
It's still better off to take it early and retire as early as you can and enjoy life before you ever get to old age.
"When I say ever thing I mean ever thing." - Frankie
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2 members like this:
imadeerhntr, cartervj |
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Joined: Mar 2016
Posts: 3,192 Likes: 13
10 point
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10 point
Joined: Mar 2016
Posts: 3,192 Likes: 13 |
Your betting on how long you'll live. I started taking mine at 62. I'd be 78 before I reached the break even point compared to taking it at 66. Exactly, started at 62 myself.
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Joined: Mar 2016
Posts: 3,192 Likes: 13
10 point
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10 point
Joined: Mar 2016
Posts: 3,192 Likes: 13 |
Here's the thing about the "break even age" let's just say that you live a long a fruitful life and live beyond that age... What have you gained?
It's still better off to take it early and retire as early as you can and enjoy life before you ever get to old age. Agree with this as well.
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Joined: Dec 2013
Posts: 28,317 Likes: 564
a.k.a. Dingle Johnson
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a.k.a. Dingle Johnson
Joined: Dec 2013
Posts: 28,317 Likes: 564 |
Here's the thing about the "break even age" let's just say that you live a long a fruitful life and live beyond that age... What have you gained?
It's still better off to take it early and retire as early as you can and enjoy life before you ever get to old age. Agree with this as well. Here's a couple of things about that most people don't mention, cost of living increase not withstanding... 1. Let's just say you start taking at 62 vs 70. Well, that's 8 years that you are getting money that you wouldn't get otherwise, and that money you get today is worth more today than it will be tomorrow because of inflation. 2. The second thing is that money you get today, whatever it is, allows you to, (if you are smart enough to have a nice 401k plan or investments,) leave your investments earning money for you and taking advantage of compound interest, allowing that money to grow way more than the shitty growth rate of your SS payment increase.
Last edited by Irishguy; 11/12/25 07:24 AM.
"When I say ever thing I mean ever thing." - Frankie
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1 member likes this:
cartervj |
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Joined: Jan 2013
Posts: 701 Likes: 9
4 point
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4 point
Joined: Jan 2013
Posts: 701 Likes: 9 |
Thanks Irish - I need to sign up now - No guarantee for the future
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Joined: Jul 2011
Posts: 39,938 Likes: 130
Freak of Nature
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Freak of Nature
Joined: Jul 2011
Posts: 39,938 Likes: 130 |
Here's the thing about the "break even age" let's just say that you live a long a fruitful life and live beyond that age... What have you gained?
It's still better off to take it early and retire as early as you can and enjoy life before you ever get to old age. Agree with this as well. Here's a couple of things about that most people don't mention, cost of living increase not withstanding... 1. Let's just say you start taking at 62 vs 70. Well, that's 8 years that you are getting money that you wouldn't get otherwise, and that money you get today is worth more today than it will be tomorrow because of inflation. 2. The second thing is that money you get today, whatever it is, allows you to, (if you are smart enough to have a nice 401k plan or investments,) leave your investments earning money for you and taking advantage of compound interest, allowing that money to grow way more than the shitty growth rate of your SS payment increase. Correct on both points.
"Why do you ask"?
Too many people spend money they don't have , on things they don't need, to impress people they don't know.
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Joined: Dec 2013
Posts: 28,317 Likes: 564
a.k.a. Dingle Johnson
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a.k.a. Dingle Johnson
Joined: Dec 2013
Posts: 28,317 Likes: 564 |
Here's the thing about the "break even age" let's just say that you live a long a fruitful life and live beyond that age... What have you gained?
It's still better off to take it early and retire as early as you can and enjoy life before you ever get to old age. Agree with this as well. Here's a couple of things about that most people don't mention, cost of living increase not withstanding... 1. Let's just say you start taking at 62 vs 70. Well, that's 8 years that you are getting money that you wouldn't get otherwise, and that money you get today is worth more today than it will be tomorrow because of inflation. 2. The second thing is that money you get today, whatever it is, allows you to, (if you are smart enough to have a nice 401k plan or investments,) leave your investments earning money for you and taking advantage of compound interest, allowing that money to grow way more than the shitty growth rate of your SS payment increase. Correct on both points. Right... If you are poor and don't have enough money to live on, take the money at 62 and live. If you have plenty of money and investments to live on, take the money at 62 and invest it in ETF's and make even more money.
"When I say ever thing I mean ever thing." - Frankie
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Joined: Feb 2017
Posts: 1,778 Likes: 3
8 point
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8 point
Joined: Feb 2017
Posts: 1,778 Likes: 3 |
I elected to take mine at 62. I will receive my first check in January.
"America First! Nothing Else Matters"
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Joined: Jun 2020
Posts: 281 Likes: 6
4 point
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4 point
Joined: Jun 2020
Posts: 281 Likes: 6 |
NEW RETIREMENT AGE FOR FULL PAY IS 67 IN 2025. IF you take at 62, deduct 25-30% for life. BUT YOU CAN DRAW AT 62 AND AT FULL RETIREMENT AGE YOU CAN REPAY MONEY THAT YOU RECEIVED FROM 62 TO 67 AND THEN RECEIVE FULL PAY. SCREWED UP AS NORMAL WITH THE SUITS TELLING US WHAT TO DO!
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Joined: Oct 2005
Posts: 1,628 Likes: 4
8 point
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8 point
Joined: Oct 2005
Posts: 1,628 Likes: 4 |
Look at average life expectancy for men in the US. Everyone likes to ignore this and thinks they will live forever.
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Joined: Jan 2017
Posts: 5,760 Likes: 75
12 point
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12 point
Joined: Jan 2017
Posts: 5,760 Likes: 75 |
NEW RETIREMENT AGE FOR FULL PAY IS 67 IN 2025. IF you take at 62, deduct 25-30% for life. BUT YOU CAN DRAW AT 62 AND AT FULL RETIREMENT AGE YOU CAN REPAY MONEY THAT YOU RECEIVED FROM 62 TO 67 AND THEN RECEIVE FULL PAY. SCREWED UP AS NORMAL WITH THE SUITS TELLING US WHAT TO DO! Will that repay come with also paying a certain amount of interest or include some type of penalty?? Why wouldn't everyone take it at 62 then repay and get more at 67??
"It is the mark of an educated mind to be able to entertain a thought without accepting it"
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Joined: Jan 2017
Posts: 5,760 Likes: 75
12 point
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12 point
Joined: Jan 2017
Posts: 5,760 Likes: 75 |
NEW RETIREMENT AGE FOR FULL PAY IS 67 IN 2025. IF you take at 62, deduct 25-30% for life. BUT YOU CAN DRAW AT 62 AND AT FULL RETIREMENT AGE YOU CAN REPAY MONEY THAT YOU RECEIVED FROM 62 TO 67 AND THEN RECEIVE FULL PAY. SCREWED UP AS NORMAL WITH THE SUITS TELLING US WHAT TO DO! Will that repay come with also paying a certain amount of interest or include some type of penalty?? Why wouldn't everyone take it at 62 then repay and get more at 67?? AI says: There is no provision that allows you to repay benefits received between ages 62 and 67 to then receive full benefits at FRA. Once you claim benefits early, the reduced amount becomes your permanent benefit, even if you later decide to repay the money you received. The Social Security Administration does not permit such repayments to restore full benefits.
"It is the mark of an educated mind to be able to entertain a thought without accepting it"
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Joined: Jul 2003
Posts: 15,578 Likes: 96
Old Mossy Horns
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Old Mossy Horns
Joined: Jul 2003
Posts: 15,578 Likes: 96 |
I will be 62 in March, and I'm drawing my money. I probably won't be alive at 70.
Life is a journey. Make sure and bring plenty of Beer.
My luck has been so bad lately, it could be raining pussies and I'd catch one with a dick broke off in it.
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Joined: Jul 2011
Posts: 39,938 Likes: 130
Freak of Nature
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Freak of Nature
Joined: Jul 2011
Posts: 39,938 Likes: 130 |
Look at average life expectancy for men in the US. Everyone likes to ignore this and thinks they will live forever. True , and I think it's actually ticked downward last decade.
"Why do you ask"?
Too many people spend money they don't have , on things they don't need, to impress people they don't know.
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Joined: Oct 2006
Posts: 9,133 Likes: 40
14 point
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14 point
Joined: Oct 2006
Posts: 9,133 Likes: 40 |
I would recommend spending a few bucks and speak with a financial advisor or wealth advisor to come up with a plan (whether you use them or not - you can often speak with them on an hourly basis - your bank may offer a financial advisor(of course they are going to try to sell you a service)). Certainly a lot of that would depend on your investments and holdings; in MOST cases they WILL NOT take into account non-liquid assets when planning.
They can assist you with putting everything on paper, weighing your investment options (if you have any), rolling from a 401K to IRA (depending on your annual income), RMDs, short/long-term gains...etc.
"The struggle you're in today, is developing the strength you need for tomorrow."
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Joined: Mar 2018
Posts: 4,830 Likes: 117
12 point
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12 point
Joined: Mar 2018
Posts: 4,830 Likes: 117 |
Take it when you can. It want take much money to set in your recliner and eat mush later
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Joined: Jul 2011
Posts: 39,938 Likes: 130
Freak of Nature
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Freak of Nature
Joined: Jul 2011
Posts: 39,938 Likes: 130 |
Take it when you can. It want take much money to set in your recliner and eat mush later 
"Why do you ask"?
Too many people spend money they don't have , on things they don't need, to impress people they don't know.
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Joined: Feb 2002
Posts: 46,042 Likes: 231
Freak of Nature
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Freak of Nature
Joined: Feb 2002
Posts: 46,042 Likes: 231 |
I posted a link directly to the SS website that answers several questions. Apparently people are too fucking stupid to click it. And AI says....... who the Hell cares what AI says about such things?
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