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Thank you for posting this. I also retired 5 years ago at age 55. The biggest shock was how much I have had to spend on healthcare. My spreadsheet estimates were way too low. I was able to stay on my employer's plan, but the coverage gets worse every year while the premium keeps rising...

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I found it interesting in the opensocialsecurity calculator, if you change the discount rate to any number greater than 4.5% when I modeled my situation, the suggested collection age was 62. I consider that 4.5% a fairly low hurdle when combined with potential future SS haircuts and other...

Foxcreek, were you trying to verify your number AFTER porting it to a prepaid cell ? GV will only accept phone numbers that are cell numbers, not landline numbers.

Strange. Have you looked online at some tutorials on how to do it ? Things may have changed since I did it. I found the tutorials to be very helpful.

Foxcreek9, you can port your number to a cheap prepaid cell phone (I think I paid about $20 for one at Walmart), then from that phone to Google Voice. But as far as the 911 issue, you are correct. They will not know your address. That is a risk I was willing to take, just like having to call 911...

Foxcreek9, wouldn't it be better to port your landline number to Google Voice, which is totally free ? I did so years ago and still have the same phone number I have had for 30 years and still use the same cordless "landline" phones. $0 monthly fees.

Had a landline for decades. Ported the phone number to a prepaid cell phone then to Google Voice. Now use the same landline phones and number for free through Google Voice.

I believe the article is saying that you should have the Medicare payments taken out of the social security payment to avoid the potential scenario of paying higher rates.

62 for me. Making Optimal Social Security Claiming Decisions - A Four Stage Analysis by Daniel Amerman

dmpi, I believe your physics professor was correct. The type of oil is much less important than a good filter and change frequency. Particles are the enemy of an engine far above oil breakdown.

Midpack, have you considered filling the 24% bracket with conversions before the income tax rates go up in 2026 ? It is a very large bracket and only 2% points above the 22% bracket you are currently filling. It may be worth it even with the extra Medicare premiums.

In my situation (everyone is different) filling the 24% bracket with conversions is the sweet spot. The current MFJ top of 24% is about $364k. In 2026 the 25% bracket will be about HALF of that figure. I agree with Runningbum on not hiring an advisor. I spoke with one and it was obvious I knew...

Koolau, Sounds like your variables are a bit different, in that between a small pension and soc sec I will not be depleting the IRAs much. So in your case it does make sense to not be as aggressive as I have been. Every case is different, and nobody knows the future tax rates, which is what...

Hi Midpack, You and I had discussions on this board several years ago on this topic. I have been converting to the top of the 24% bracket for a few years, and have probably been too aggressive in that my effective tax rate will likely be a bit lower in the future. If tax rates go up beyond the...

As already stated, the IRS is now all over this easement write-off. They also try the same thing with buying a partnership in an oil well. If it's too good to be true......run.

You mentioned you were in the bay area. Would the increase in car break-ins be a factor for rates to increase in that area ?

Genxguy, you are absolutely right. By law, if they do nothing, the cuts will take place.

dknighd, I did not view the article as trying to optimize, but pointing out that the typical break even calculation is too simplified. The article points out the effects of inflation, health of the system, and linkage between SS and Medicare. Every individual case is unique, but I believe the...

Apologies to those who have seen me post this several times on these SS discussions. I just think he brings up some good points that are not in typical articles on the subject. Making Optimal Social Security Claiming Decisions - A Four Stage Analysis by Daniel Amerman

I estimated break even at around 83 years old. My family history is such that it is likely I would not last past that, so for me 62 makes sense. In these decisions, each person has to think through these variables. You are correct in pointing out longevity as a big factor. I have also lost a...

gman1234, you make a very good point. And if you take at 62 and have the misfortune of passing away at age 70 or shortly after, you have $276k to pass on to your heirs vs. very little or none if you start at age 70.

Montecfo, 100% agree. Instead of just focusing on pay stubs, look at the whole compensation package. That is one reason consulting fees from sole proprietor consultants are elevated - to compensate for lack of benefits from "regular" employment. I think we are all saying the same thing. I was...

Montecfo, you are correct that the total paid to SS in both cases is the same. But in the case of the self employed, what he sees net leaving HIS pocket as self employed is greater than what leaves HIS pocket as "regular employee" at a corporation. He is not focusing on the fact that at...

I think he is just looking at the net leaving his pocket for SS. The "screwed" part is paying more out of pocket for the benefit as self employed and then on top of that potentially seeing cuts to that benefit.