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Re: Collect at 62 or 65
Old 02-22-2005, 08:49 AM   #21
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Re: Collect at 62 or 65

In this example I believe it is statistically beneficial to take the smaller of the two benefits as early as possible and the larger of the two benefits at about age 70. This can be mathematically demonstrated but is also somewhat intuitive. The larger benefit will be collected until both spouses die (a much longer life expectancy than for an individual) and the smaller benefit will end when either of the spouses dies (a much shorter life expectancy than for an individual).
My only problem with those numbers is I think of retirement someday as being a time i'll spend with my wife. At 33, my "life" for the most part, centers around my wife and my son. The day I lose my wife, I don't think i'll have much life left in me, figuratively speaking. My wife is my "buddy", and i'd just assume think the day she isn't here is never going to come. With that thought, i'd prefer to live that way too. That means taking both checks at 62.

I guess said another way, I dont see either her or I "strategizing" how things are going to be when one of us dies. We're just too optimistic to even go there. There'll be enough when that happens. That's all that matters.


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Re: Collect at 62 or 65
Old 02-22-2005, 08:54 AM   #22
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Re: Collect at 62 or 65

God I hope the 62 option will still be available 12 years from now. :-/

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Re: Collect at 62 or 65
Old 02-22-2005, 09:13 AM   #23
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Re: Collect at 62 or 65

I have two kids but have no plan to leave them a fortune when I die.Spanky
I assume your love is mutual?

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Re: Collect at 62 or 65
Old 02-22-2005, 09:31 AM   #24
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Re: Collect at 62 or 65

Wanna have some fun? Apply for Social Security. I did, online this Sunday. Of course, they need backup documents, like birth certificates, DD214s, etc. I was given an address to mail them too, but since they're so important and the office was so close, I drove over there. There was a 2 1/2 hours waiting time, so I took a number and went to the gym. Returned in 2 hrs 15 mins, and there was still a 2 hour waiting period. Plus, the "nice" bureaucrat decided to close one of the windows for lunch.

I'm mailing it.

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