Social Security

[GTOguy]

Originally Posted by slewfoot

62 was my original plan 20 years back but changed a bit over the years when I wanted a higher employment retirement. So, with the math, did the basic medicare-no supplements at 65 because I use the VA and I retired from my employer and took SS at my SS number of 66 & 4 months.

My wife decided to go the distance and will start SS next year at 70.

This will work out to your favor if you and the wife live to 115-120 and are active up to that point. Well done.

[Mick]

Originally Posted by GTOguy

This will work out to your favor if you and the wife live to 115-120 and are active up to that point. Well done.

That's a joke, right?

[GTOguy]

Originally Posted by Mick

That's a joke, right?

Not at all. I have yet to see ANYBODY who 'ups their game at age 80 and takes off running into active retirement. The people I see who wait for the maximum end up either dying before getting any SS, or dying well before the 'break even' point. The ones that make it generally don't have use for the extra $$$ per month at that age unless it's used to pay for hospice care. They certainly aren't buying jet-skis and taking ski vacations abroad.

Many people are under the delusion that they will feel the same at 75 or 80 as they do at 60-65. I can think of 3 or 4, but that's it.

[Big bob]

Originally Posted by GTOguy

Not at all. I have yet to see ANYBODY who 'ups their game at age 80 and takes off running into active retirement. The people I see who wait for the maximum end up either dying before getting any SS, or dying well before the 'break even' point. The ones that make it generally don't have use for the extra $$$ per month at that age unless it's used to pay for hospice care. They certainly aren't buying jet-skis and taking ski vacations abroad.

Many people are under the delusion that they will feel the same at 75 or 80 as they do at 60-65. I can think of 3 or 4, but that's it.

So what is your advice for Yadkin? How long before he can collect? When should he collect?

[GTOguy]

Originally Posted by Big bob

So what is your advice for Yadkin? How long before he can collect? When should he collect?

Yadkin is still working, so will get penalized to some degree if he draws before his full retirement age of 66 years 11 months. His wife is a factor as well, being a little younger and in an unknown contribution bracket. (He may be better off on her SS---who knows?)

Bottom line is, Yadkin will be 65 in a month or two, still skis, is still active, not fat, not out of shape. As you stated, he's a 'scrawny little ****.". His dad lived into his 90's, so I see Yad doing the same. So even if he waits until 70, he'll draw SS for 25 years. Like the termites and roaches that walk the earth, Yadkin will be here long after we're gone.

[dvarapala]

Originally Posted by GTOguy

Bottom line is, Yadkin will be 65 in a month or two, still skis, is still active, not fat, not out of shape.

So you've seen him lately?

[GTOguy]

Originally Posted by dvarapala

So you've seen him lately?

No. He lives on the other side of the country. I've never seen him in real life. Just photos. Is he starting to take steroids or something? Hair implants? Lasic eye surgery?

[Yadkin]

Originally Posted by GTOguy

Not at all. I have yet to see ANYBODY who 'ups their game at age 80 and takes off running into active retirement. The people I see who wait for the maximum end up either dying before getting any SS, or dying well before the 'break even' point. The ones that make it generally don't have use for the extra $$$ per month at that age unless it's used to pay for hospice care. They certainly aren't buying jet-skis and taking ski vacations abroad.

Many people are under the delusion that they will feel the same at 75 or 80 as they do at 60-65. I can think of 3 or 4, but that's it.

"60s are to go gos. 70s are the slow goes. 80's are the no goes."
Baby Doll, 2015

[Yadkin]

Originally Posted by GTOguy

Yadkin is still working, so will get penalized to some degree if he draws before his full retirement age of 66 years 11 months. His wife is a factor as well, being a little younger and in an unknown contribution bracket. (He may be better off on her SS---who knows?)

Bottom line is, Yadkin will be 65 in a month or two, still skis, is still active, not fat, not out of shape. As you stated, he's a 'scrawny little ****.". His dad lived into his 90's, so I see Yad doing the same. So even if he waits until 70, he'll draw SS for 25 years. Like the termites and roaches that walk the earth, Yadkin will be here long after we're gone.

I maxed out my SS contribution for 8 or 9 of the 10, Baby Doll did 10/10. (The 2008 crash hurt my business untill I changed course a bit.) Not much difference between our projected benefit.

[dvarapala]

Originally Posted by GTOguy

I've never seen him in real life. Just photos. Is he starting to take steroids or something? Hair implants? Lasic eye surgery?

So you don't really know what he looks like now...

[Mick]

Originally Posted by Yadkin

I maxed out my SS contribution for 8 or 9 of the 10, Baby Doll did 10/10. (The 2008 crash hurt my business untill I changed course a bit.) Not much difference between our projected benefit.

What does this mean? To get the max SS benefit, you would have to make above the max taxed for 35 years.

[GTOguy]

Originally Posted by dvarapala

So you don't really know what he looks like now...

Saw a video of him skiing with his son about a year ago and he was in fine form. I'd say in better shape than probably 90% of the people posting here.
How many of you still ski? Or can wear sport shirts you've had for 35 years?

[dvarapala]

Originally Posted by GTOguy

Saw a video of him skiing with his son about a year ago and he was in fine form. I'd say in better shape than probably 90% of the people posting here.
How many of you still ski? Or can wear sport shirts you've had for 35 years?

Sounds like you might need to go rub one out.

[Yadkin]

Originally Posted by Mick

What does this mean? To get the max SS benefit, you would have to make above the max taxed for 35 years.

Whatever. It's chump change at this point.

[Yadkin]

Originally Posted by dvarapala

So you don't really know what he looks like now...

[Mick]

Originally Posted by GTOguy

Saw a video of him skiing with his son about a year ago and he was in fine form. I'd say in better shape than probably 90% of the people posting here.
How many of you still ski? Or can wear sport shirts you've had for 35 years?

I could wear any piece of clothing I had 35 years ago, but wouldn't. It would look ridiculous because all of it would be way too big for me. Late '80s and early '90s were when I was big into lifting weights, and weighed as much as 255. I'm 215 now.

[GTOguy]

Originally Posted by dvarapala

Sounds like you might need to go rub one out.

Post a picture of yourself, Varla. The one in the red dress.

[Steve_R]

Originally Posted by GTOguy

S
How many of you still ski? Or can wear sport shirts you've had for 35 years?

Still ski and could wear anything from 35 years ago.

[Blademaker]

Originally Posted by Yadkin

I've worked hard, lived within my means, invested, all within the concept that FedCo's Ponzi scheme would crash the day that I retire. And it's all come to fruition. So now, any money I get from it is dedicated to things that I don't need, like two seat sports cars and European river cruises.

Likewise, I never counted on ANY $$$ from social security, ever. When I sold out and retired @ 50, I made damn sure that I wouldn't need anything from SS.
I didn't think it would be there, and the .gov would go to stealing it.
Again.
So at 62, I went ahead and signed up.
My wife retired from teaching a couple years ago, so we have really good health insurance as well as her pension, as well as money wisely invested.
0 debt for well over 20 years. We never spend all of the income we have every month, so the SS is just gravy. We have decided that we both have no desire to be the wealthiest people in the cemetery, so we informed our kids that we're going to piss the money away on a helluva lotta nice trips all over the US, and whatever we want to do, they would be able to split a few mil worth of real estate.
Being a full time, professional **** off is awesome.
YMMV.

[The_Dude]

My SS should cover my new C8 payment