social security

redcoats1976

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sat down and filed online to start my benefits in december.i will be 63 at the end of november and im ready to retire,have been at the same job for 27 years,and its been both physically demanding and rewarding at various times.in some ways i think i will miss it but in other ways i cant wait to stop working.12 weeks.not quite sure i can process the changes,being able to sleep late when i want to,etc,but also knowing i will have to fill all that extra time i will soon be enjoying(i hope) maybe some advise from the people on the forum and how it worked out fr or them?
 

TheX

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My wife started getting her benefits at 66, and she LOVES being retired.
 

fett

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I filed online many years ago and I thought I did everything just right. I had that summary of lifetime earnings and I was expecting $X per month. I messed up somehow and my app didn't take. I made the call and got a very nice person. She was all over her computer and started asking me all sorts of questions. I answered them. She would put me on hold and come back with more questions. Oh,Oh. Now what. The call lasted close to 1 hour. The end result is my benefit amount almost doubled. I had no idea how the death of my wife at the age of 38 came into play. One of the questions was how long we had been married. A little over 10 years. Bingo. That meant the benefit was based on her higher earnings. If I not made that mistake filing online, I would have left thousands of dollars on the table. The moral? Before you file online something as important as SS, make sure you know all the things that may have an impact. If you have a question, call somebody there and they will help you eagerly. :dude:
 

sonar1

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Been retired for twelve years.
It was like hearing from the governor that my sentence had been commuted.
My daughter asked me a couple years into retirement if I ever missed working, the guys, etc.
My job was never what I set out to do in life. It was just a convenient way to make a living for my family’s sake. I was burned out after ten years of my “career.” I did another 20 years of grinding servitude in it for security’s sake.
No. I never missed working.
I immediately transitioned into playing more gigs (I had kept my my hand in on weekends).
Soon, I couldn’t figure out how I had ever had time to work!
I made a decision that retirement would be great.
And it has been.
 

SteveC

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I gave it all up last year... I'll turn 63 this Sep and my bride will be 64 a month later... we are going to start taking her SS in Jan, and I would like to hold off for another year before taking mine. A lot of my decision has to do with things we cannot discuss on this forum. But, I'll get more clarity in a few months on what I may or, may not need to do regarding when I may need to start taking my SS.

You see, we will have a healthcare-gap, starting in March, when my COBRA runs out. I am praying that the Marketplace will still exist, so I won't get ass-raped on coverage (7 mos for wife, 18 mos for me), until I reach Medicare age. That's why I may not be able to hold out a bit longer before claiming SS. I might need more $$$'s to help pay the premiums during the gap, if things go sideways with healthcare next year. In a perfect scenario the Marketplace remains and I can wait another year for SS.

Anyway, I wish you huge congratulations on your retirement. Well done, sir!!!

:applause: :applause: :applause: :applause: :applause:


I've been doing it for about a year now. I can tell you that you probably will go through some withdrawal symptoms, at first. But, they do go away. And, after a few months, you will find that all that free time you think you will have... will get filled up with "stuff". That's a good thing.

Don't force the issue... let it happen. The first 4-6 months will be a huge adjustment, as you are already suspecting.

For me, the adjustment was not having to get my fat ass out of bed at 0-dark-30 and haul it down to the airport for a flight somewhere. But, I started hating that several years ago, so it was actually more of a relief - especially with the current situation today. But, no more meetings, conference calls, an inbox with 100 new messages each day, reports, managing people, kissing ass - playing the game, hotels, rental cars, dinners at 10P, etc.

Now, it's just a little golf, guitars, competitive shooting, (hopefully next year) traveling with my bride, enjoying the grandkids, the beach... and best of all... no pressure whatsoever to do anything. If I wake up on any given day and want to just lay around in my underwear and do nothing... I lay around in my underwear and do nothing.

You earned this, man. Enjoy every minute. Have a long and great retirement.
 

Uncle Vinnie

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I could collect SS, but as of today I have to work another 2 years 358 days before I can collect my county court pension to supplement SS and maintain our health care.

I can't wait to retire. Been a court reporter for 32 years and I'm ready. Wifey and friends who are retired tell me every day is like Saturday.

I'm going to sleep late, drink coffee, play guitar, and search the internet for guitars to buy behind my wife's back.

It'll be grand.
 

ehb

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Running the numbers, I filed last summer at 62... Running the numbers told me to file at 62... Waiting would take years to make up the not drawing at 62....

Retired from college system at 54.... SS is like gravy on a biscuit.... I recommend retirement highly as soon as you can if you can pull it off... Still have my little shop that runs itself for the most part and I don't need money from it... Not rich but doing ok.... Can gig when I want....

Always run numbers from every angle before deciding anything...or get somebody sharp with numbers stuff to do it...
 

SteveC

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For many ppeo
Running the numbers, I filed last summer at 62... Running the numbers told me to file at 62... Waiting would take years to make up the not drawing at 62....

Retired from college system at 54.... SS is like gravy on a biscuit.... I recommend retirement highly as soon as you can if you can pull it off... Still have my little shop that runs itself for the most part and I don't need money from it... Not rich but doing ok.... Can gig when I want....

Always run numbers from every angle before deciding anything...or get somebody sharp with numbers stuff to do it...
Correct.

For many people, taking it at 62 is the best option. There are some cases where delaying will make sense though; many of those scenarios are tax related, and should only require a delay of a couple years. I'm in that particular situation. For me the right age should be 64, to minimize my tax liabilities.

Those folks holding out until age 70 are making a huge gamble on life expectancy - LOL
Even waiting until 66.x ("full retirement age") is a crapshoot, where most will lose.

But, I agree with you 100% - when you get close to 62, you need to know what your BEST option is and if you cannot figure it out alone, find someone reputable to help you figure it out.
 

SteveC

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Congratulations on your future retirement.

I'm 38. My entire life I have been told SS won't be available when I retire, so I'm trying to plan to not need it and if it's available then it will be bonus money.
Pete - take a serious look at the math on a regular 401k v. a Roth. I'm flipping my kids 100% to the Roth for the very reason you say... SS may be a less of a contribution to their retirement income. It's never going away, though. No mater what you hear, it will be available.

Tax free income in retirement will be KING.
 

PeteK

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Pete - take a serious look at the math on a regular 401k v. a Roth. I'm flipping my kids 100% to the Roth for the very reason you say... SS may be a less of a contribution to their retirement income. It's never going away, though. No mater what you hear, it will be available.

Tax free income in retirement will be KING.
My employer doesn't offer any Roth options. I don't technically have a 401k either. I have a combination 457/401B, though tax wise it's essentially the same thing. I am fortunate to also have a state pension separate from those, so hopefully SS won't be needed.
 

Meatwad

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..... I am fortunate to also have a state pension separate from those, so hopefully SS won't be needed.
I started working at a state college right after I turned 23, and paid into a state pension system for 31 years.

I retired one month after I turned 54.
Today is the one year anniversary of my retirement. :cheers:

So happy that I don't have to deal with any of that bullshit anymore. :thumb:
 
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Dun Ringill

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sat down and filed online to start my benefits in december.i will be 63 at the end of november and im ready to retire,have been at the same job for 27 years,and its been both physically demanding and rewarding at various times.in some ways i think i will miss it but in other ways i cant wait to stop working.12 weeks.not quite sure i can process the changes,being able to sleep late when i want to,etc,but also knowing i will have to fill all that extra time i will soon be enjoying(i hope) maybe some advise from the people on the forum and how it worked out fr or them?
 

dc007

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Congratulations on your future retirement.

I'm 38. My entire life I have been told SS won't be available when I retire, so I'm trying to plan to not need it and if it's available then it will be bonus money.
Good for you. I did the same. My investments of the years are modest but do provide me well enough that SS is just icing on the cake. Hopefully our leaders and future leaders will not let that well dry up.
 

Mike I

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I retired at 60, and plan on taking SS at 66+4 mos. In two years.

That's when I get the 100 %. Waiting until 70 made no sense. Too late of a start, and would take 11 years to recoup what I missed at 66.

Likewise, taking before 66+4 would have cost me a great deal of money if I make it to 85 or so, which should be about right given my family history and my good health,

By waiting until 66+4, I'll make an extra 150K.

Plus I have a pension, so the SS will be for GAS!
 


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