I’m 61. From what I can tell, it looks like age 64 is a reasonable time to start collecting. I figured it out, and you have to live past 80 for you to draw more by waiting for FRA.
At least that’s true for me.
I’m going to start collecting as late as possible, then move to Chicago and register as a Democrat. That way, I know I’ll be collecting until I’m at least 130 years old. :-P
Should You Take Social Security at 62, 66, or 70?
Here’s a game plan to help you figure out if it makes sense to take your Social Security early, on time, or late:
https://www.fool.com/retirement/2017/03/25/should-you-take-social-security-at-62-66-or-70.aspx
“I figured it out, and you have to live past 80 for you to draw more by waiting for FRA. At least that’s true for me.”
pretty much true for most ... basically, one will collect .5% more per month that one waits ... however, it’s most instructive to add up the number of thousands one gives up each year one waits ...
in my opinion, it’s better to have a bird in hand rather than two in the bush, particularly by the time you get that extra bird most people are too decrepit to enjoy that extra bird ... just look at the number of people who are 80+ in “independent living” units and nursing homes ...
That makes sense,
64 ,,,Retirement.
Can you expand on that?
Thanks.