Camas Lilly
Recycles dryer sheets
- Joined
- Sep 18, 2007
- Messages
- 318
I am really on the fence whether or not to collect SS early. I am 7 years younger than DH. I am 60.5 and I am wanting to retire at 62-63. We are still going to have two debts to pay off at that point, mortgage and a new truck, but do plan on selling the house and downsizing to another state with enough money left over to pull most of that off although that is going to take a good chunk of the equity, about 1/3. Actually considering starting dividend withdrawals to help pay these two debts down.
My husband is 67.5, retired and collecting a pension and early Social Security.
When I turn 62-63, we could just make it on his pension, Social Security, Dividend income and 3% RMD without having to touch my Social Security.
I keep waffling between taking it at 62 or holding off as long as I can. Wouldn’t it be a no-brainer that even delaying my Social Security it will only max out at approximately what he is getting right now and if something happened to him, I would collect his Social Security anyway. To me it seems like a waste if it could possibly go away anyway. This money would really come in handy and we could possibly back off on the dividend income. If we collect all 4, we would be sitting pleasantly.
I also realize time is short, and I want to be active in his retirement years while he can still get around OK because we will probably have 1-3 acres and he is wanting a shop to tinker, granted he still can, when we get there. There is also the possibility we are going to have cows and chickens too, so really looking forward to working together on the “farm”. ☺
He is not the healthiest – arthritis, knee replacement, shoulder needing replacement, previous back surgery, smokes a cigar, has pretty high blood pressure and is about to go on meds for diabetes. So I am really trying to look at the facts. First he is 7 years older, secondly his (male) life span should be shorter than mine and then with the health issues on top of that to shorten life expectancy even further. I am petty healthy, have never had anything wrong with me other than recently “normal” slightly elevated blood pressure, although I don’t get enough exercise while still working. I have quit all my bad habits – quit smoking, lost 50 lbs and also now eat very well. I am expecting I could very well live at 15-20 years on my own, unless something kills me first. LOL. Yes, Alzheimers and diabetes runs in both sides of the family, but I am thinking positively!
So, I thought I would get input from the good smart people on the forums here. ☺
Thanks
My husband is 67.5, retired and collecting a pension and early Social Security.
When I turn 62-63, we could just make it on his pension, Social Security, Dividend income and 3% RMD without having to touch my Social Security.
I keep waffling between taking it at 62 or holding off as long as I can. Wouldn’t it be a no-brainer that even delaying my Social Security it will only max out at approximately what he is getting right now and if something happened to him, I would collect his Social Security anyway. To me it seems like a waste if it could possibly go away anyway. This money would really come in handy and we could possibly back off on the dividend income. If we collect all 4, we would be sitting pleasantly.
I also realize time is short, and I want to be active in his retirement years while he can still get around OK because we will probably have 1-3 acres and he is wanting a shop to tinker, granted he still can, when we get there. There is also the possibility we are going to have cows and chickens too, so really looking forward to working together on the “farm”. ☺
He is not the healthiest – arthritis, knee replacement, shoulder needing replacement, previous back surgery, smokes a cigar, has pretty high blood pressure and is about to go on meds for diabetes. So I am really trying to look at the facts. First he is 7 years older, secondly his (male) life span should be shorter than mine and then with the health issues on top of that to shorten life expectancy even further. I am petty healthy, have never had anything wrong with me other than recently “normal” slightly elevated blood pressure, although I don’t get enough exercise while still working. I have quit all my bad habits – quit smoking, lost 50 lbs and also now eat very well. I am expecting I could very well live at 15-20 years on my own, unless something kills me first. LOL. Yes, Alzheimers and diabetes runs in both sides of the family, but I am thinking positively!
So, I thought I would get input from the good smart people on the forums here. ☺
Thanks