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Originally Posted by Lonnieme2
I agree with this post 100%, especially the part about Social Security. My husband turned 65 in July and plans to begin collecting his SS benefit when he turns 70, for 125% of the benefit. This is also the year that I will retire and we move to TV, so the extra money then would be awesome... if the benefit still exists. I have wondered if drawing now for a known amount is better than waiting for a larger sum that may not exist. But we do not need the money now, so I am good with the decision.
I have felt for some time that in the end the money will go to those who did not plan well and/or work hard and that we will be denied or given a percentage of the promised amount because we worked hard and have other means of income. We paid in with promises but of course these mean nothing. It is my hope that if / when our money is stolen, the American people will not stand for it.
As for the tulip story, I had no idea. Very interesting and I love reading these posts because I learn so much more than just Village life!!
I found this after a quick search and plan to read more when my work day ends - "The Dutch tulip bulb market bubble, also known as 'tulipmania' was one of the most famous market bubbles and crashes of all time. It occurred in Holland during the early to mid-1600s when speculation drove the value of tulip bulbs to extremes."
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My two cents, collect at 67 or whatever is your full retirement age, deposit the monthly benefit in a Roth IRA. Waiting until. 70 you will likely not live long enough to recoup the money you left on the table. I suggest you do the math and see how many years you would have to live to break even. When you finally retire all money in the Roth is tax free.