Quote:
Originally Posted by masraum
I think the best thing is to delay SS as long as you can get away with it, because that increases your benefit. But hey, I'm sure there's a lot more to it than that.
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The amount part is pretty simple. If you take at 62 you get less but three years sooner. It was maybe $75,000 for me when I hit 65. Had I taken it at 65 I would get more monthly and have the same total benefit paid to me at 81. After 81 I'm stacking benjamins many hundreds a month more than had I taken at 62. Maybe $600-800 is my guess.
Defer taking it if you have other income. I think it's earned income they will beat you to death over tax wise when stacked on top of SS. After 69 you can earn all you want on top of SS. You will still pay taxes but at regular rates.