Take Reduced Benefits ????

[SteveR]

Money in the pocket today is better than than a future promise. I even took my pension early to have cash to invest over a longer period that waiting for a slightly bigger check 15 years from now. I can make more on it by investing it than I could by waiting for it to increase as part of their defined benefit plan.

When I am 62, I will file for SS and take it as soon as I can. Take the money and run. Waiting for a future payback that might not happen is not my plan. Who knows when your number is up and you won't be around to spend it?
I plan on taking my IRA distributions early too. If the numbers continue to climb too high too soon, I will be faced with much larger required distributions and having to pay income tax on the whole distribution instead of smaller ones I can take after 59.5 I pay enough taxes without adding to the pile. I already feel like I have been supporting several families in addition to mine.

[JPatrick]

Is there any doubt?

[bosco]

Quote:

Originally Posted by ((^+^)) SG While I recognize this is true for many, I'm not convinced this will be true for us. My DW and I love to travel. We are almost never home.

This will cost you less money....if you get old enough, you will be "almost never home" for free!! (if you have LTC insurance). You might think you will be flying around a lot when you get too old to hike and cycle, and you probably will for a while. But then there will come a time when you will fly around a lot without an airplane....even time travelling is possible!

[sgeeeee]

Quote:

Originally Posted by bosco . . .But then there will come a time when you will fly around a lot without an airplane....even time travelling is possible!*

This sounds great. Fortunately, we both have some experience with this kind of travel from our younger days.

[HFWR]

Timothy Leary's dead... 8)

Moody Blues, Legend of a Mind

"In the Seventies we did acid; now we won't eat white bread!"

Source unknown

[Michael Moore]

Sadly, I seem to know a number of people in their early to mid 50s (my age) who are either dead or getting ready to enter that state. I'm all for the "get it while you can" school of thought as I seem to have misplaced my lifetime warranty that was given to me when I was born.

cheers,
Michael

[73ss454]

That's why I always get the extended warranty!!!