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Old 03-15-2019, 11:45 AM   #41
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DW and I both took SS at 62 and are still very hopeful we live long enough to regret the decision. Now it's time to book another trip. Courtesy of the US govt.
Courtesy of the money you gave to them when you were working, and the current workers giving them money now.
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Old 03-15-2019, 11:47 AM   #42
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Courtesy of the money you gave to them when you were working, and the current workers giving them money now.
You bet. And I'm certainly not going to wait almost another decade to get more.
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Old 03-15-2019, 11:51 AM   #43
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You bet. And I'm certainly not going to wait almost another decade to get more.
Nope get it now. More for me later.
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Old 03-15-2019, 12:09 PM   #44
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Nope get it now. More for me later.
Yep. I'm just trying to pay it forward. That way when the system has to give a haircut I can't say I didn't do my part.
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Old 03-15-2019, 12:14 PM   #45
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Nope get it now. More for me later.
And furthermore I've spent 4 decades waiting for later. I think it has arrived. The trivial matters like this just don't matter all that much.
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Old 03-15-2019, 12:24 PM   #46
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DW and I both took SS at 62 and are still very hopeful we live long enough to regret the decision. Now it's time to book another trip. Courtesy of the US govt.
Yep! Good for you, enjoy more now when you can, and while you have great health. At 70 I see many and no many that struggle with life, just seen one today with a cane. He is a very wealthy man and can't do much. Sad!

I have lost about 20 people plus I have known, and most very well, that have passed away in the last year and half. The range of age are from 65 to 53 year old. I'm not going to gamble on this game, I'm taking early and not going to leave anything on the table, betting on my longevity.

There is no right way or wrong way IMO.
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Old 03-15-2019, 01:46 PM   #47
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..................... I'm taking early and not going to leave anything on the table, betting on my longevity.

How are you planning on 'not leaving anything on the table' as far as your portfolio?


Have you already purchased your SPIA?
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Old 03-15-2019, 02:20 PM   #48
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How are you planning on 'not leaving anything on the table' as far as your portfolio?


Have you already purchased your SPIA?
He probably is referring to just the SS in a somewhat theoretical sense.
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Old 03-15-2019, 02:39 PM   #49
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I retired 12 years ago, but now I feel old. I’ll be 62 in May and went ahead and filed. Took about 5 minutes online and today I see that I’m approved. First check will be deposited July 24.
I applied on 3/1/19 and mine says it's received but no update after that.

I turned 64 last month. I always planned to wait until 65 when Medicare starts. We get a hefty ACA subsidy so I wanted to wait until 65 when that wouldn't be an issue anymore. This year we have a high deductible plan that is HSA compatible so the $9,000 HSA contribution more than offsets the SS income for ACA.

My SS benefit will be $718 a month. I've been watching it go up every month since I turned 62. The main reason for waiting has been the ACA but I also waited because it was only $578 to start at 62.

I have a pleasant little part-time job as a school crossing guard . I make about $4200 a year, far below the amount where SS takes some of your benefit. DH is retired with a government pension. He does not have enough SS credits to get a benefit right now. If he did complete his credits he would be WEPed and GPOed. He would not get anything as a spouse so that does not impact my decision to start my benefit now.

If my application gets approved I'm hoping to get my first deposit in late April.
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Old 03-15-2019, 02:48 PM   #50
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For the DW and I the decision was easy. We didn't need it (and never will) but the DD could use it now. So we both took it at 62 and effectively just give it to her.


And no, we're not adopting anyone.
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Old 03-15-2019, 02:50 PM   #51
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This year we have a high deductible plan that is HSA compatible so the $9,000 HSA contribution more than offsets the SS income for ACA.
Did you mean $7,000 HSA contribution?
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Old 03-15-2019, 02:51 PM   #52
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How are you planning on 'not leaving anything on the table' as far as your portfolio?


Have you already purchased your SPIA?
I don't plan on living past my break even point at 82 years of age, I might but I don't know that.

You are very welcome to all I leave to YOU! I hope you live till your 115 plus and collect from others have taken SS at age 62. I really do wish you to make a century plus in age and have a healthy body and mind to enjoy your large SS check.

I hope I answered that question of yours.
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Old 03-15-2019, 02:56 PM   #53
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I hope I answered that question of yours.

No you didn't answer my question..... I'll re-phrase.... You said 'You didn't want to leave any money on the table'.


I assume that you have investments, savings in cash, stocks etc..... So again my question is; How are you going to NOT leave anything on the table as far as your portfolio is concerned?


I mean .... You don't want to die with 'money on the table' - do you?
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Old 03-15-2019, 03:10 PM   #54
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SS evaporates when one dies. It's not inheritable. By not collecting at least the minimum amount by taking at 62 before dying is 'leaving money on the table' in my opinion. My investments, savings and real property all go to heirs. Not left on the table, instead my family benefits. SS money, no one I care about benefits when I die.
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Old 03-15-2019, 03:11 PM   #55
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Did you mean $7,000 HSA contribution?

If you are over 55 you can contribute an additional $1000 per person.
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Old 03-15-2019, 03:12 PM   #56
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Originally Posted by Cut-Throat View Post
No you didn't answer my question..... I'll re-phrase.... You said 'You didn't want to leave any money on the table'.


I assume that you have investments, savings in cash, stocks etc..... So again my question is; How are you going to NOT leave anything on the table as far as your portfolio is concerned?


I mean .... You don't want to die with 'money on the table' - do you?


Well I donít know about you, but I havenít figured a surefire way (short of shooting myself in the head) of flopping into my grave with only my last dollar in my pocket.

So I pretty much expect to die with too much "money on the table".

But Iím open to any suggestions on how to pull a trick like dying broke that doesnít include poverty... ;-)
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Old 03-15-2019, 03:18 PM   #57
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Well I donít know about you, but I havenít figured a surefire way (short of shooting myself in the head) of flopping into my grave with only my last dollar in my pocket.

So I pretty much expect to die with too much "money on the table".

But Iím open to any suggestions on how to pull a trick like dying broke that doesnít include poverty... ;-)

SPIA.
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Old 03-15-2019, 03:19 PM   #58
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SS evaporates when one dies. It's not inheritable. By not collecting at least the minimum amount by taking at 62 before dying is 'leaving money on the table' in my opinion. My investments, savings and real property all go to heirs. Not left on the table, instead my family benefits. SS money, no one I care about benefits when I die.

Your higher S.S. taken at age 70 is indeed 'inheritable' by your surviving spouse. She/He will thank you for this.
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Old 03-15-2019, 03:25 PM   #59
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SPIA.


Think Iíd rather shoot myself in the head... ;-)
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Old 03-15-2019, 03:28 PM   #60
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Your higher S.S. taken at age 70 is indeed 'inheritable' by your surviving spouse. She/He will thank you for this.
Based on both family history and personal medical history, it is unlikely DW will survive me. If she does, she'll still end up with a butt load more disposable income than she could ever hope to burn through with all the money I won't be spending on 'stuff'.

We've discussed what she would do if I precede her in death. She would like to move to an independent living facility that has transition to assisted and eventually nursing. Not hard to find in our area and compared to our budget for both of us now, definitely less than we are currently spending. Our current living arrangement is a rather large and laborious estate where I spend much of the year maintaining and she wouldn't want to get involved with at all. Example; I spend several hours each day this time of year clearing downed trees, brushing up and burning. I enjoy it and it's necessary to reduce fire hazard. I doubt she could even figure out how to fuel the tractor, let alone start it and operate it. She certainly wouldn't consider it her idea of retirement even to hire it out. She enjoys her sewing, quilting, female friend gatherings and a to a lesser extent cooking and general home making. We are very traditional that way and wouldn't have it any other. Today she and 2 other lady friends are on a fabric shopping spree, then dinner at Cracker Barrel. I have buckboard bacon in the smoker ready to be pulled later for slicing and storing.
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