Quote:
Originally Posted by MBAtarga
If I live to be 85, it's better for me to take the SS at 70. If I live to be 84, waiting until 67 is better than taking it at 62. I've got good genetics on my side and expect to live at least that long God willing.
The other thing to consider - if you're married - is you/your spouse gets the higher of the two payments when the other dies. And odds are - our women will far outlive us. That will add up as my calculated SS payment is about $1-1.2K higher than hers.
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Methinks one's marital status, discrepencies between you, and whether you "need" the SS income, or simply reinvest it at a nice return (say 7%) for the duratuon, or risk getting nothing (if single) back matters. I think it's "play money" for many on this board ....
At 70, I would rather have several hundred K from SS $$$ already accumulated (a lump sum that's mine to do as I please with) rather than just starting to collect.
There is no "right" answer .... unless you know yer "croaked on date"
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My best childhood friend and college roommate .... a healthnut, died from Covid at 61. I've had a couple of "close calls" from idjuts blowing through red lights, and my elderly parents' don't even consume what they draw from SS each year....
I sell crystal balls for 19.95 on TV too!
If I were married, I would consider having the lower recipient begin drawing early too.... and investing it.
No "one size fits all" .... and no guarantees in life....
Except death and taxes
