I'm over 65 myself, I believe I understand how it works. I posted above.That is exactly what I am doing. The longer I work, the more I collect. Once you start collecting, you benefit is fixed.
Help me understand?
I'm over 65 myself, I believe I understand how it works. I posted above.That is exactly what I am doing. The longer I work, the more I collect. Once you start collecting, you benefit is fixed.
No. I won't live to 85. That is not the point. My wife will outlive me by 30+ years. At $1,000 per month, that is $360,000+ for her, over her lifetime, after I am gone. Easy decision right there. Break-even age for Social Security is 83. If you start earlier than 70, and live past 83, you lose money every month. No matter when you start, 62, MRA, FRA, 70, you will collect the same amount by age 83. If you live past 83, you are losing money if you collected earlier than 70.Yes I'm aware, how many years will it take for you to get the difference back along with you still working.
Max benefit at 67 & 6 months is $3.822 a month on SS. So that will gross $167,000 dollars you can invest before you turn 70 and still live and add to your SS with still working.
if you work until 70 its now $4,873 a month on SS. The break over is like 13+years and thats without the interest from the 167,000 you saved before turning 70.
Will it matter when you are like 85? will you be alive at 85?
Help me understand?
OK, food for thought.No. I won't live to 85. That is not the point. My wife will outlive me by 30+ years. At $1,000 per month, that is $360,000+ for her, over her lifetime, after I am gone. Easy decision right there. Break-even age for Social Security is 83. If you start earlier than 70, and live past 83, you lose money every month. No matter when you start, 62, MRA, FRA, 70, you will collect the same amount by age 83. If you live past 83, you are losing money if you collected earlier than 70.
A few years back I needed another vault, I just bought a BIG one. It would have been better for us if I had bought two medium sized vaults. If I need something from the back row I need to move a dozen or more out of the way to get the one I want from the back.That reminds me.... I need a new, or larger safe. Mine is chock full of guns, with no room for ammo. I have a few thousand rounds scattered all over shelves in the closet.
Is it worthy of someone buying it?I'm not selling my retirement.
No.Is it worthy of someone buying it?
I agree.No.
Everyone has their own plan, or no plan.
Some work 2 years past and bank one check, live off the other.
Some live off both like a teenager.
I'm not smart enough to figure it out. I probably should have my financial advisor run some numbers with/for me. I am retiring at the end of this year when I turn 65. I am done with corporate life and am only staying in so I can reach Medicare eligibility.Yes I'm aware, how many years will it take for you to get the difference back along with you still working.
Max benefit at 67 & 6 months is $3.822 a month on SS. So that will gross $167,000 dollars you can invest before you turn 70 and still live and add to your SS with still working.
if you work until 70 its now $4,873 a month on SS. The break over is like 13+years and thats without the interest from the 167,000 you saved before turning 70.
Will it matter when you are like 85? will you be alive at 85?
Help me understand?
It’s an investmentWhat excuses have you given to your wife/gf/ or significant other ,to justify buying a new gun without having a conflict? And go......
It’s an investment
I'd think it would be more like "I only have 10 of those" in your case or even better, "They are not making any more of these".I use that one as well.