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02-23-2020, 11:29 PM
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#121
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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Quote:
Originally Posted by badatmath
"Counting on?" No. "Expecting". Yes.
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Quote:
Originally Posted by ugeauxgirl
+1
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+2
More than expecting, my wife is drawing it already. I am delaying mine till 70.
My wife's benefit is a small part of our expenses, but seeing that amount deposited in our account every month is nice. Almost makes me want to get mine too.
PS. Oops, the OP was asking of people mid-50 or younger. Well, obviously I don't belong in that group. Sorry.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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02-24-2020, 04:34 AM
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#122
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2018
Location: Tampa
Posts: 11,197
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60 y.o. here and still expecting it and is mostly factored into the calculations.
DGF already collecting due to SSDI.
__________________
TGIM
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02-24-2020, 05:26 AM
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#123
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Thinks s/he gets paid by the post
Join Date: Jun 2014
Posts: 1,188
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Quote:
Originally Posted by pj.mask
I just read a post of someone who retired on 25k with about 700k assets at this age on reddit.
With a high paying profession saving half, you can have the equivalent of 16 years max earnings for SS and that’s probably more than many people earn in a 40 year career.
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Maxing out likely, but they could have way more than 16 years and not all just tiny. I retired at 43 and had 29 years of earning records. My first co-op I was 19, earned $15k (now worth $31k on the earnings record), so not insignificant.
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03-03-2020, 09:50 AM
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#124
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Full time employment: Posting here.
Join Date: Oct 2009
Posts: 640
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Jane Bryant Quinn in this CNBC interview (3/1/20):
Quote:
Can you imagine telling your grandmother that her benefits are going to be cut by 20%? No way. Now, certainly we need either higher taxes or benefit adjustments to keep the system going for five more generations. But it’s going to be done.
Might benefits be adjusted down if you are 20 years old today? Possibly.
So the idea that Social Security will go broke is an idea promulgated by people who want to privatize it, people who want to cut benefits for older people. They are not people who have your best interest in mind when they tell you Social Security is going broke. It won’t go broke. It will be there. It will certainly be there at present rates for older people and people near retirement.
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__________________
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"Wealth consists not in having great possessions, but in having few wants."
--Epictetus
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03-03-2020, 10:20 AM
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#125
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gone traveling
Join Date: Sep 2018
Location: Washington, DC
Posts: 575
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It's interesting (and I'm amazed) at the number of people that are seemingly mid to late 50's saying "don't plan on SS". I'm curious how that breaks down to income level, ie, i have paid the max for over 20 years now, and I am not only planning to get SS, I expect to get it.
Whether and when I could retire if the US Gov't failed and I didn't get it is a question of when I would retire, and what level of retirement I would have.
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03-03-2020, 10:22 AM
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#126
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2013
Location: Les Bois
Posts: 5,761
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I'm 56. Why wouldn't I count on my SS? I paid enough into it - about 12% of pay for 33 years
__________________
You can't be a retirement plan actuary without a retirement plan, otherwise you lose all credibility...
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03-03-2020, 10:41 AM
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#127
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Thinks s/he gets paid by the post
Join Date: Nov 2009
Location: SF East Bay
Posts: 4,321
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Quote:
Originally Posted by NotYourAverageJones
My parents always reminded me and my sister "don't put all your eggs in one basket".
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+1. This is my approach too. At age 56, I'd be pretty surprised if most of what I expect to receive from SS isn't available when I claim. However, I've been surprised before. I like the feeling of autonomy that being able to get by on my investment portfolio alone gives me.
Extra money is always good.
__________________
Contentedly ER, with 3 furry friends (now, sadly, 1).
Planning my escape to the wide open spaces in my campervan (with my remaining kitty, of course!)
On a mission to become the world's second most boring man.
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03-03-2020, 01:59 PM
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#128
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Recycles dryer sheets
Join Date: Mar 2018
Location: Oklahoma City
Posts: 154
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I'm 55 & DW is 56. Planning to wait until 70 because it makes the most financial sense for us (in a perfect world).
But got to admit there's a part of me that wants to start drawing at the earliest possible moment. Guess the feeling is once you start, you're inside and they can't shut you out.
I imagine this is a common feeling.
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03-03-2020, 02:16 PM
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#129
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gone traveling
Join Date: Sep 2018
Location: Washington, DC
Posts: 575
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Quote:
Originally Posted by Lienlord
I'm 55 & DW is 56. Planning to wait until 70 because it makes the most financial sense for us (in a perfect world).
But got to admit there's a part of me that wants to start drawing at the earliest possible moment. Guess the feeling is once you start, you're inside and they can't shut you out.
I imagine this is a common feeling.
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Depending on your and your spouses earnings, it may not make sense for both to wait until 70. Lot's of SS planners to help with that. In my case, DW will start at 62 or shortly after, I will likely wait until 67, or maybe 70 depending on how things are going for me!
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