Thanks. Good post.
So much superfluous ado about what can be stated in less than ten words. Just say the age or date and be done with it!
Grab it while its still there, you paid for it.
I claimed at 62. I will be 78 before I brake even. I got 4 years of money when I could enjoy it more.
Soon as you can afford too. I went at 65 because I could afford too. Wish I could’ve went sooner. Lot of my friends didn’t get much of there’s by waiting. Each to his own though.
I retired at 58 and will be taking ss at 62. My wife will get her’s next year, and, me the year after.
We live on a sailboat and don’t have a lot of expenses, except fuel and food. We’re comfortable right now.
Why not retire at 62! No guarantee you will live to reach an older age so retire early and have some fun!
https://www.ssa.gov/history/ssa/usa1964-2.html
I got mine at 62. My family history is that males pass away early. My break even point is 81.
I grabbed at 62 because I stopped working at 56. But for over 25 years I maxed out the SS deductions from income, makes a good check. Yes, not as good as if I had waited, but strangely enough if matches to the dollar my military retirement.
A ponzi scheme that rivals and tops all others. Why do you have to file for it? The government took it out of your paycheck without you asking. Now you have to beg to get it back? The government knows everything about you, you tell it to them every year, now you must beg to get it back. FU FDR, YOU STARTED THIS PONZI CRAP.Now you see its consequences.
1. Inflation.
2. Opportunity Cost.
3. Mortality tables.
4. Congressional whim.
5. Solvency.
6. Current v. future tax rates
Figure in those factors and 62 is the correct answer for the financially assured and astute.
The real stupidity is the “professionals” in articles like this who continue to ignore these key concepts. Makes you think they just want everyone to work to fund the Deep State until they die at their place of work.
I applied when I was 62. Took it as soon as I was allowed. I reasoned that SS may not be around in the future and wanted to get as much as I could out of it.
No regrets.
I started at age 64 - as soon as I retired. They tempt you to take it later, but who is to say you will not die before then? And any time the government promises you something better, ignore it - they only care about themselves.
It doesn’t happen much, but it does apply to some people: if you have minor children when your retire (natural or adopted) you get a substantial monthly sum for them as well, until they’re 18 (how much depends on how many). So sometimes retiring a little earlier than one normally would can allow one to take advantage of that bonus.
Start collecting it the minute you hit 62. It ain’t gonna last much longer.
Took mine at age 67 in 2013.
How long, after you file, does it take for checks to start coming?
I delayed mine until 68 as at that time they would penalize you if you still worked but That has been changed now. I will be 87 soon...
In my household, 53. But I’m disabled. The process took 2 and a half years. And if anybody says it is easy tell them for me they’re full of shit.
CC
I took mine at FRA - 66.
At the same time, my wife who was 66 and is still working, filed a restricted benefit under my SS.
She got half of my monthly and deferred her own until she turned 70. For each year deferral, she gained 8%.
When she turned 70, she claimed her own at a 32% increase over what she would have gotten had she filed for her own SS @ 66.
What she saved banking her SS check from 66-70 paid off our first mortgage.
The FEDs closed this “restricted” benefit in 2015.
However, they grandfathered in anybody born prior to 01/02/1954.
When I was ready to file, I had to look twice at this.
We couldn’t be this stupid, could we? Yes, yes were.
Thank you, Bill Clinton.
It works best if both are at Full Retirement Age.
https://www.thebalance.com/social-security-rules-for-restricted-applications-2388915
as always...check things out for your self...