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Re: When will you collect Social Security?

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Message 31 of 53
You did the right thing, Bro!
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Re: When will you collect Social Security?

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Message 32 of 53

I had intended to work until 70 before I started collecting Social Security (I was a work-a-holic) who rarely took time off from work. A few months after I turned 61 I was laid off from a full-time job. For 6 months while collecting Unemployment I tried to find another full-time position, during this time I decided to go back to school to update my skills with the hope that the updated skills would help me. With no luck finding a job, even part-time, I decided to apply for Social Security Benefits to go into effect at age 62. After a few months I did find a part-time position which gives me some additional income. Athough my income decreased it is enough to live frugally. With the extra time I have been able to spend more time with my grandchildren (which is something I really cherish), attend programs and functions during the day, and participate in other things that I enjoy. 

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Re: When will you collect Social Security?

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Message 33 of 53

I retired at 62 because I couldn’t take corporate bs 💩 anymore, but was able to live off my pension and savings until I turned 65 and I cashed in on it then.  Long live social security!

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Re: When will you collect Social Security?

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Message 34 of 53
Everyone will begin paying the same for Medicare. The catch up increase is already in effect.
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Re: When will you collect Social Security?

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Message 35 of 53
ED, your amount for age 65 will be 93.33 % of your FRA amount.
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Re: When will you collect Social Security?

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Message 36 of 53

My wife and I started in March 2018 at age 62. Because of high credit card debt, we have paid off $10,000 so far and will be totally out on debt Nov 2019. If we had not taken SS at 62 we would of had to file bankruptcy. Since my wife never worked her benefit has put us $100 over what my FRA amount would of been.

We did lose $352 per month by not waiting until FRA but we are saving over $200 per month on credit card interest. Also, since I am not working and have a military pension we will be ok. 

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Re: When will you collect Social Security?

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Message 37 of 53

I took early retirement at age 55 as my dad was exhibiting signs of Dementia.  I had planned to retire at 62 as I already had 35 years in the company.  The time I spent with my Dad was worth it, but he passed away 2 l/2 years later.  As I was far from age 62 yet, I was still able to stay retired and live off of some savings I had.  When I turned 62 and was eligible for Social Security I signed up online.  It is just one of those little roadblocks life throws at you, but I weathered a few tough years, but now I have a pension, Social Security, Medicare and my 40lk to carry me through.

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Re: When will you collect Social Security?

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Message 38 of 53

I was planning to put off collecting Social Security until age 70, as everyone, including Social Security, recommends. My reward was an increase of $25/month in my Medicare premium. Others in my cohort who started collecting earlier were "held harmless" from the premium increase. This is on top of the $3900 that I spent out-of-pocket paying my Medicare premiums the previous three years.

Because of this, I went ahead and started collecting Social Security at age 68, which did save me from another premium increase, but I'll still be paying $300 per year more for Medicare than those who started collecting earlier, and I'll be doing it for the rest of my life. 

Now that's unfair!

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Re: When will you collect Social Security?

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Message 39 of 53
Started collecting at age 62, had a heart attack at age 58 and wanted to do things before the sun set on my life. Quit work at age 44 and moved aboard a sailboat and went sailing - was able to live my dream. ^ months after heart attack the cardio dr said that if I kept improving we might be able to go sailing again in a few years. My wife looked at the dr and said, "so we are out there sailing and he has an event and we are out of radio contact and no where ear land and I now have to take care of him and the boat? "We're selling the boat!" DR REPLIED: SMART WOMAN - that was 1984
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Re: When will you collect Social Security?

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Message 40 of 53

I retired at age 65, 8 months before my full retirement age due to my wife's health issues of visiting doctor's offices and the difficulty in getting time off from work to take care if this. While applying for Social Security, my pension, Medicare, Medigap insurance, etc. I realized that it was time for me to retire anyway. My body was telling me to cut back if not cut out the amount of time I was on the job. Besides, changes were occuring on the job that no longer made it fun anymore. So I felt my time there should end anyway.

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