I make more money retired, than I did working.
But I don't spend as much. Especially on gas.
This is me.
Once I built my retirement spreadsheet back when I was 60, I figured out that I could make more money retired than working. I told my boss that and he was like "What does that mean?" I said, "It means we need to start training my replacement."
If you count what Boho and I have made on our 401k's since I retired 27 months ago, plus my pension, plus her S.S. (I'm not taking mine until this September) and add all that up we are making way more money than when we both worked, and spending a lot less even with our travels.
People need to pack those 401k's early and often, fill them with ETF's and work up to putting the max in there that Uncle Sam will let you. Then sit back, relax, leave them alone, and let time and compound interest work for you.
Here's the thing about taking you SS early, as at 62...
Scenario A
You WANT to retire early.
You have a nice 401k.
Then yes, take it early and leave the money in your 401k to grow and depending on how much money you have in there the 401k might just outgrow the money that you are going to miss later on by not waiting later to take SS.
Scenario B
You have health issues and you really can't work.
Well, then you may need to take SS at 62.
Scenario C
You want to keep on working.
Well, that's a no brainer, then put off taking it until full retirement age, keep working and double dip, or wait as long as you want. More power to ya.
There may be more scenarios than that, but that's all I can think of now. And of course paying for healthcare may be a factor too.
