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View Poll Results: When Did You or Are Planning to start Soc Sec?
Age 62, as early as possible 103 22.25%
More than 62 but less than FRA 41 8.86%
Your FRA (65 to 67) 71 15.33%
More than FRA age but less than 70 40 8.64%
Age 70, as late as possible 208 44.92%
Voters: 463. You may not vote on this poll

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Old 03-24-2021, 01:16 PM   #161
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Very confident first post after 10 years.
Indeed.
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Old 03-24-2021, 01:30 PM   #162
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Taking at fra which is 66 yrs and 2 months. Maybe a dumb question, my bday is is 1st week of august. Should I be looking to get my first full fra check the 2nd week of October?
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Old 03-24-2021, 01:52 PM   #163
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Would delaying until 70 leave you headroom to fully convert your IRA by age 70 within the 12% tax bracket?
Yes. The only advantage is paying less tax from 55-62, which reduces SORR. And it leaves lots of room for 0% LTCG so I can tax gain harvest my large taxable account.


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There might be something to that, though I think this goes somewhat hand in hand with the notion of taking SS if the market tanks. I think reacting to the market is better than predicting it, in terms of starting SS.

While the market is high, I don't see a good case for starting SS just in case it tanks, because while it's high you would rather be taking more out of your investments for spending. Meanwhile, defer your SS benefit so that it will be higher later.

But if the market does tank, that's when you'd rather not be selling investments for living expenses, so it would be good to start SS at that point.

So I'll stick with being reactive to a down market to start SS, rather than starting SS because of a possible market downturn.
Yup. I will maximize 0% LTCG tax gain harvesting from 55-60 and do some Roth conversions. Then take a look at how things are going @ age 60 and make a new plan. If the bull continues for those 5 years, I'll delay SS. If the market has crashed or is crashing, I'll probably start SS @ 62.
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Old 03-24-2021, 02:02 PM   #164
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Taking at fra which is 66 yrs and 2 months. Maybe a dumb question, my bday is is 1st week of august. Should I be looking to get my first full fra check the 2nd week of October?
Yes. Your first month of eligibility is September and they pay in arrears. So you'll get your first check in October.
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Old 03-24-2021, 02:09 PM   #165
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Definitely age 70. The 8% return is too much for me to give up, and my mother's family lives a long time. Dad's side, not so much, but they were all smokers.
It's been mentioned many times in SS threads, but the return is not 8%, because if you choose to wait and accrue the 8% you are not drawing payments, while you do if you take it now. In fact, in inflation adjusted dollars, if you die at the "standard" age computed by the actuaries (around 81), then the gain is exactly zero, or the rate of inflation if you want to compare to other investments (because SS is COLA'd at whatever inflation index they use). So it's a matter of guessing your longevity, of thinking whether you have better investment options, of marriage status, whether it can serve as a hedge for other investments, taxation at time of RMD, and related to it, aggressive Roth conversions before SS so SS won't be taxed as much (the decisive factor for me to wait), and a whole lot of other factors. There is no simple universal answer, the more you think and read the more you discover, and it's best to run one of the various good calculators.
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Old 03-24-2021, 03:19 PM   #166
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Early 50s, we're planning to wait 'til our 70s to draw SS.
We're below 2% WR and feel no need to spend, are very happy as is... but as others here point out, our perspective may change over time. Grateful to be in this position.
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Old 03-24-2021, 03:24 PM   #167
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Never! I am short about eight quarters. I paid into a CSRS pension during most of my career.
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Old 03-24-2021, 04:14 PM   #168
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I'm flabbergasted at that national poll.

I'm just a poor blue collar guy who never made much of a salary. I retired at age 51 four years ago. I will be taking SS at 70. I was also flabbergasted last year when I called into SS and found out how much my SS will be with making $0 in salary going forward. My SS will be way higher than I could have ever imagined.

Now if I can get the Govt to stop sending me these asinine stimulus checks.
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Old 03-24-2021, 05:56 PM   #169
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I'm flabbergasted at that national poll.

I'm just a poor blue collar guy who never made much of a salary. I retired at age 51 four years ago. I will be taking SS at 70. I was also flabbergasted last year when I called into SS and found out how much my SS will be with making $0 in salary going forward. My SS will be way higher than I could have ever imagined.

Now if I can get the Govt to stop sending me these asinine stimulus checks.
Just send the stimulus checks back.
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Old 03-24-2021, 08:46 PM   #170
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Yes. Your first month of eligibility is September and they pay in arrears. So you'll get your first check in October.

Thanks, appreciate it.
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Old 03-25-2021, 07:47 AM   #171
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Planning on taking the calculator advice: 63 for me and 70 for DH. That also coincides with losing ACA tax credit when DH goes on Medicare.
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Old 03-25-2021, 12:21 PM   #172
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Yes. Your first month of eligibility is September and they pay in arrears. So you'll get your first check in October.
So does that mean if one dies in August, they still get a check for Sept and/or Oct?
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Old 03-25-2021, 01:12 PM   #173
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No. Social security does not pay partial months, so you don't actually get a benefit until the end of the first full month you are eligible. Thus, in the scenario we have been discussing, if you turn 62 in early August and then die before the end of the month, you will never start benefits. You also don't get paid social security for the month in which you die. So if you died in September, you won't get benefits. Your survivor is required to report your death to the SSA and return any money received for the month of your death or thereafter.

But let's assume everything goes well. You turn 62 in August. You will not receive any benefit for August.* You will start accruing benefits on September 1 and you will get a check the second Wednesday in October. That check is the payment of your September benefit. Your benefit for October will be paid the second Wednesday of November, and so on. (i.e. - payment in arrears)

* Except if you were born on the 1st or 2nd, then you get credit for a full month.



Here's a site that goes into greater detail -- https://www.simplywise.com/blog/when...enefits-begin/
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Old 03-25-2021, 02:36 PM   #174
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No. Social security does not pay partial months, so you don't actually get a benefit until the end of the first full month you are eligible. Thus, in the scenario we have been discussing, if you turn 62 in early August and then die before the end of the month, you will never start benefits. You also don't get paid social security for the month in which you die. So if you died in September, you won't get benefits. Your survivor is required to report your death to the SSA and return any money received for the month of your death or thereafter.

But let's assume everything goes well. You turn 62 in August. You will not receive any benefit for August.* You will start accruing benefits on September 1 and you will get a check the second Wednesday in October. That check is the payment of your September benefit. Your benefit for October will be paid the second Wednesday of November, and so on. (i.e. - payment in arrears)

* Except if you were born on the 1st or 2nd, then you get credit for a full month.



Here's a site that goes into greater detail -- https://www.simplywise.com/blog/when...enefits-begin/
So the govt makes out a little bit on each person.
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Old 03-25-2021, 03:45 PM   #175
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So the govt makes out a little bit on each person.
Not really. The law is that you get paid a benefit for every full month that you are eligible. They also only pay in whole dollars, and they round down from $0.99 to the lower dollar. You may think it should be different, but that's the law.
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Old 03-25-2021, 04:27 PM   #176
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So does that mean if one dies in August, they still get a check for Sept and/or Oct?
I was worried that I'd have to return dad's Social Security check that he received in the first week of January, because he died on the 16th of January. I called Social Security to find out, and they said that because Social Security is always paid one month "late" (i.e, January's heck arrives in February) that I didn't have to return the January check, but if one had arrived in February I'd have had to return it. Because I'd called them and notified them - and so, apparently, did the funeral home) I didn't have to return anything.
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Old 03-27-2021, 10:32 AM   #177
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I’m just guessing this group will poll differently than the mainstream, though there are perfectly legit reasons to start early or late regardless. I’m not asking for anyone to explain, just curious how an ER.org poll pans out.
I always looked at it that if you didn't need the money - consider taking it early, but if you thought you might - consider waiting. We took at 62.
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Old 03-27-2021, 10:41 AM   #178
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My SS will be greatly reduced due to WEP so Im waiting till FRA.
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Old 03-28-2021, 07:42 AM   #179
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Im 59. My husband passed unexpectedly in 2015. I think Im going to start collecting at 60. I believe I can collect a percentage of his at 60 and switch to my own, if it is more, at 62, 67 or 70. I really dont see myself living to 70 with this anxiety.
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Old 03-28-2021, 07:56 AM   #180
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Im 59. My husband passed unexpectedly in 2015. I think Im going to start collecting at 60. I believe I can collect a percentage of his at 60 and switch to my own, if it is more, at 62, 67 or 70. I really dont see myself living to 70 with this anxiety.
Oh Joy I am so sorry about what you are going through. Sounds like a good plan to collect your husband's SS at 60 and delay yours. Do you have the numbers from SS about what you will receive at various ages? I am so sorry about your anxiety. Can you get any help for that? Can we help you on any way here in this Forum?
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