Poll: Poll Thread: Did You Or Are You Going To Start Collecting Social Security Retirement Income At 62, Full Retirement Age or 70.

[kmk1012]

I'm not trying for attention but it's easy for me, my cancer will return long before I'm that age. I'm ok with that and fully accept it, just enjoying life as it is now. I feel I've got at least ten more years but then I'll only be 53. I feel it's a blessing in certain ways as I make every day count now, before I went through all the chemo, transplants, and surgeries, I didn't have a real respect for the life is was living. My body lets me live an almost normal day to day life now, aside from all the monthly treatments now, I feel normal. I'm focusing all of my retirement money to set my kids and wife up for life after. I was fortunate to get a very substantial inheritance around the time of my diagnosis so it has helped not to worry about the mounting medical bills. Take my advice here please, appreciate EVERY day as it is not guaranteed.

 

[albin25]

How's about a selection of ..."I worked my butt off and retired before 62, luck had nothing to do with it!"

Both are retired, me at around 45* the wife waited 'till 65 and now are getting more than double our combined pre-retirement incomes from Canada Pension + CDN Old Age Security + US Social Security + Idaho Persi + Private Pensions, without touching cashy/savey stuff like RRSP's (CDN), 401k's, or touching equities... Our financial Gal figured that at 6%/year inflation, we should burn through our savings/nest-egg by our 110th birthdays and need to rely on Gov't pensions alone. If we make it that long we plan to become "dried apple" TicToc influencers and make a pile of cash posting photos of our daily gruel/medications and shaking our wrinkles on videos.

.... Our dilemma?.. we did what we wanted when younger (travel, boats, cars, etc) and after a efficient frugal life... we can't figure out what we want to do to spend our retirement $avings, now that everything either hurts or is starting to fall off. We'd rather remember how Europe, Asia, Mexico WERE rather than revisit them as they are now, and geeze, golf or pickle ball ?... no thanks.

Ya ya, I know... First World problems, boo hoo

Still love to shoot... THAT'S forever.
And, there's always the coming old-age medical stuff... I hear that can be a kinda "hobby"


* well... I flipped houses (our personal residences) 'till I turned 62.

 

[Hal OPeridol]

I am currently on Social Security disability, asconsidered 100% disabilited from my stroke 6 years ago. Not much money there, and medical bills and living expenses after my stroke ate up my savings. Fortunately it and my cardiac problems have been rated as 100% service connected by the VA so I have that too. Enough for a comfortable living, but definately no new cars in my future.

Next year it changes from long term disability to straight SS.

 

[arakboss]

65 or "full retirement age"? Rrrrrrrright...... What am I planning to do with my SS money?

View attachment 1477091

Yup......my check will be sooooo small. But I don't care (once I've cornered the market).

Aloha, Mark

PS........
View attachment 1477096

Back in my day there was so much toilet paper people used it to wipe their arse.

 

[arakboss]

How's about a selection of ..."I worked my butt off and retired before 62, luck had nothing to do with it!"

The poll was in regards to when a person started collecting Social Security. Only a small minority of people are able to collect Social Security before age 62.

Sounds like you and the wife did well for yourselves, congrats on that. I have worked my butt off all my adult life, as well. I should have redirected some of that hard work towards making more money per hour, saving money instead of spending it and investing it. I did not, so now I get to play catch up and settle for getting by in retirement. It's nobody's fault but my own.

Farm workers work hard as well and most of them won't die wealthy.
Achieving some things in life takes more than just working hard.

 

[oremike]

I started collecting SS at 62 and use it to pay my house payment. I don't even see it and the mortgage will be paid off before my wife reaches 62. She hasn't decided if she will retire then or keep working. Her choice, her way. I'm good with whatever she decides. Me, I retired at 59 1/2 and with 10 years of combined government service and was able to get a pension without penalty. I took the pension as one lump sum and started my ammo business with the money. I didn't want anyone else to manage my money. I got burned pretty bad financially in '08. The first couple of years I could make all the money I wanted but from age 62 until age 66 I had to watch what I made to stay below the SS cap. Now I'm past the age for full retirement so can make all I want again. I still have to pay taxes but no penalties.

 

[jackrv]

Not SS, railroad retirement at 55 through being disabled on account of a hip replacement.
They decided, since I mostly worked alone, it was better all around.

 

[Longwalkhome]

Worked with a man who was one of the smartest men I ever met. He retired out of the navy and worked long enough to get minimum SS then went to work for the State of Oregon to become a Triple dipper in retirement. His wife worked too but her dad died and left the a million dollars. Just as he retired he came down with Parkinsons and didn't last long.

My wife and I planned a great retirement and she died of cancer at 58.

Best to enjoy life now if you can, tommorrow isn't guaranteed to anyone.

 

[arakboss]

Worked with a man who was one of the smartest men I ever met. He retired out of the navy and worked long enough to get minimum SS then went to work for the State of Oregon to become a Triple dipper in retirement. His wife worked too but her dad died and left the a million dollars. Just as he retired he came down with Parkinsons and didn't last long.

My wife and I planned a great retirement and she died of cancer at 58.

Best to enjoy life now if you can, tommorrow isn't guaranteed to anyone.

My Dad has Parkinsons and advanced prostate cancer, my mom is on her second pacemaker. Those things could be in my future. I would rather gamble that I am going to make it to 90 and if my life gets cut short, the family can divvy up any remaining savings that are left. If I make it past 90 I will be screwed.

 

[arakboss]

My back of a napkin retirement plan is to start collecting SS at 65. I will rely on SS income to cover 50% of expenses, savings to cover 25% and part time work to cover the remaining 25%.

My plan will require that I start saving $1000 a month for the next 12 years. My plan accounts for a 50% reduction in my projected SS benefit payments. If SS benefits are cut beyond that or disappear completely, I will have to work more hours, reduce expenses or shorten my lifespan.

 

[Certaindeaf]

I have nice ankles so I'm pretty well set.

 

[kmk1012]

I have nice ankles so I'm pretty well set.

I'm sorry but that freaking got me, I laughed good on that one!

 

[Flopsweat]

I have nice ankles so I'm pretty well set.

What's your OnlyFans?

 

[Nosferatu]

What's your OnlyFans?

CertainlySexyDeafAnkles

 

[Flopsweat]

I have nice ankles so I'm pretty well set.

What's your OnlyFans?

CertainlySexyDeafAnkles

Yeah, if you think I'm looking that up, you're mistaken.


@sobo, check this out. You know you want to.

 

[Nosferatu]

Yeah, if you think I'm looking that up, you're mistaken.


@sobo, check this out. You know you want to.

You're more of a sexy wrist kinda guy.

 

[Flopsweat]

You're more of a sexy wrist kinda guy.

 

[arakboss]

A little gene therapy should allow me to get my money's worth out of social security.

New Breakthrough Paves the Way for Extending Human Lifespan – Scientists Successfully Transfer Longevity Gene

The successful transfer of a gene that produces HMW-HA paves the way for improving the health and lifespan of humans, too. In a groundbreaking endeavor, scientists at the University of Rochester have successfully transferred a longevity gene from naked mole rats to mice, leading to enhanced health

scitechdaily.com

 

[Flopsweat]

A little gene therapy should allow me to get my money's worth out of social security.

New Breakthrough Paves the Way for Extending Human Lifespan – Scientists Successfully Transfer Longevity Gene

The successful transfer of a gene that produces HMW-HA paves the way for improving the health and lifespan of humans, too. In a groundbreaking endeavor, scientists at the University of Rochester have successfully transferred a longevity gene from naked mole rats to mice, leading to enhanced health

scitechdaily.com

As long as I don't grow a tail.

Actually... Nah, nevermind.

 

[arakboss]

As long as I don't grow a tail.

Actually... Nah, nevermind.

Maybe they can package it up with a covid shot.