Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#31
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Retirement Planner: Benefits For You As A Spouse? |
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#32
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I could have taken her to her Senior prom but I was only in the 5th grade! I "retired" when I was 48 and now at 58 am planning on taking my SS at 62. It will already be reduced because of fewer earning years but hey something is better than nothing. |
#33
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https://www.youtube.com/watch?v=h3chFhCP5mQ At about age 78, whether you start at 62 or 70, will collect about the same total AMOUNT. After that age is where the totals change. If you're going to live forever then wait until 70 to start collecting. If you think you'll make it to 78 or less then start earlier. How active will you be after 78? How much more will you be able to spend? Then there are those like Herv's business partner who just died before age 60 or my first cousin who died last year at age 61 and will not see any. A good crystal ball sure helps!
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Courtesy is Contagious. * In theory, theory and reality are the same.
In reality, they're different! Last edited by CaptJohn; 05-21-2012 at 07:38 PM. |
#34
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life expectancy at age 62 is almost 18 years,So I think you must also think of this and leaving less for your spouse if you should be one of the 50% won't be around
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#35
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Don't wait.
Life is short !
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Charlie |
#36
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And the life expectancy of both of you is greater than each of you. Thus the spouse will continue to get the higher benefit.
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#37
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I want to thank all of you for taking the time and interest in my question.
I do not have a spouse and should have noted that in my question. That eliminates about 50% of the responses for me to consider. I just turned 59 1/2 and have been investing in my 401(k) to the max allowed by my employer since 1984 and have several other investment vehicles, so I am not at all dependent on SS, but just trying to analyze the various scenarios. Thanks again everyone! You all are just great and can't wait to meet some of you soon. |
#38
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Like many investment decisions it would be easy if we just knew how long we were going to live. Another word for investing is Legalized Gambling. Good Luck to all!!!
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Kansas City Mo, Palatine Il, Mt. Prospect Il, Lake Summerset Il, Rolling Meadows Il, Mt. Dora Fl. Tamarind Grove. |
#39
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Good Article on the Subject from Smart Money
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"Spending Our Children's Inheritance One Cruise at a Time". |
#40
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good link, tks
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Nova Water filters |
#41
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#42
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Agreed, this article using examples simplifies a complex issue. However, strategies are always great in hindsight! A few years ago, the Wall Street Journal suggested the best approach to SS retirement benefits was filing for reduced benefits at 62, investing the money conservatively so you could withdraw your application at age 70, repay total benefits to SSA, and then refile a new claim which would include maximum delayed retirement credits. Of course that's a great strategy and perfectly legal except it neglected the fact that some people have done so and died a few months later. Unless you know with certainty when you're scheduled to depart this life, "take the money now."
Last edited by gryoung; 05-22-2012 at 09:07 AM. |
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#44
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bump
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#45
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Closed Thread |
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