oldngray
nowhere special
My attitude is wait if you can but nothing wrong with taking it early either. There isn't one best answer.
Today I am Retired from UPS for one year. 2nd best year of my life!
- Thread starter olroadbeech
- Start date
My attitude is wait if you can but nothing wrong with taking it early either. There isn't one best answer.
UpstateNYUPSer(Ret)
Well-Known Member
"Choosing" not to prepare for retirement is still a choice.
Too many people have absolutely nothing saved and have no choice.
oldngray
nowhere special
Even worse is those who saved but have it wiped out by unexpected events.
True to a point. Sometimes people don't earn enough to put a substantial amount if money away. Sometimes these Lose their pensions or just have bad health and can't recoup the savings they spent.
Orion inc.
I like turtles
Or you could not live until 70, and get nothing. Too many individual factors to make that an absolute.
I was just curious as to why Dave thinks what he thinks works for him will fit everyone.
This is why it's good to have a good relationship with a financial adviser etc.
UpstateNYUPSer(Ret)
Well-Known Member
Everyone has a different philosophy.
Bottom line spend less than you make and don't be afraid to save a few bucks.
Orion inc.
I like turtles
We've always used an adviser and a tax attorney as well.
I believe it's worth every bit of piece of mind.
Orion inc.
I like turtles
I was raised to always put 20% away every time. My dad lived by that.
I had no guidelines to learn from. I just always liked having my own money and not owing money.
olroadbeech
Happy Verified UPSer
we are taking our SS at age 62 . the break even point is almost 18 years . my spouse has serious health issues and we will get an extra 900 a month if we take it as soon as possible. have to enjoy every extra day we have .
everyone's situation is different. if you have a good pension and have a big 401k and some stocks and other investments , it would not hurt to wait til 67 or 70 and earn that extra 8% a year. if you wait til age 70 your SS is close to double ( about 85% higher ) than if you started at 62. I have my current statement right here.
there are all kinds of calculators online to help you make an informed decision.
everyone's situation is different. if you have a good pension and have a big 401k and some stocks and other investments , it would not hurt to wait til 67 or 70 and earn that extra 8% a year. if you wait til age 70 your SS is close to double ( about 85% higher ) than if you started at 62. I have my current statement right here.
there are all kinds of calculators online to help you make an informed decision.
UpstateNYUPSer(Ret)
Well-Known Member
I don't feel the need for a tax attorney as my tax situation is fairly basic.
I have been with EW for the past several years. We have had preliminary discussions regarding SS but will have more when the time comes, which will include going after a portion of my ex's benefits.
Is she remarried?
moreluck
golden ticket member
Correcto!!
Scratch that . Never mind. You aren't remarried , so you can go after them
moreluck
golden ticket member
We did it by choice at 62.......I want what I can get NOW.........like I said there was no guarantee I would make it to 65.
With your circumstances, that made good sense.
Like I said, the answer is different for everybody.
UpstateNYUPSer(Ret)
Well-Known Member
moreluck
golden ticket member
Not just me....NOBODY is guaranteed to make it to 65....whether from a car accident, a disease, a heart attack....it can come out of left field like a drunk driver and wipe you out. I don't know why people have a hard time with this concept. You will not live long enough (probably) and you'll miss out on a steady paycheck from 62-65. The break even time is years & years!!
