Pulled the trigger this month

[hpnutty]

COVID and a nice retention bonus pushed it back a couple of years, but I'm here! Thanks to everyone that helped me along the way. Firecalc and this website have been wonderful guides.

Age: 62
Lump Sum Pension
401K and some taxable investments
Company paid medical premiums 'til 65
Wife started SS @ 62, I will start @ 70
Debt free since '08
NW $8MM

Although I was a bit nervous starting the process, I'm so anxious to start my Roth conversions, sell the house and move to the country and live the one Sunday and six Saturdays a week routine!

 

[bobbyr]

congratulations!

 

[Ready2Go]

WOO HOO! Congrats!

 

[Dtail]

Congrats. 8mm should see you through.

 

[nadnerb]

Congrats! Hope to follow your footsteps in a year or two!

 

[Retireby45ish]

Congrats.

Curious why the wife started SS at 62 and you are starting at 70. Seems if you can put it off for one you can do so for both or vice versa?

 

[Sanstar]

Congrats.

Curious why the wife started SS at 62 and you are starting at 70. Seems if you can put it off for one you can do so for both or vice versa?

Don’t know OP’s situation but in my case, I don’t have a lot of confidence in making it to 70. DM passed at 67 of CV disease. I hope lifestyle trumps genes but who knows. FIL passed at 93.

I started SS at 62, DH will continue to draw spousal until he is 70 and then draw his own SS.

I understand it all comes out in the wash anyway. Draw less sooner or more later. YMMV

 

[hpnutty]

Congrats.

Curious why the wife started SS at 62 and you are starting at 70. Seems if you can put it off for one you can do so for both or vice versa?

DW has family history of shorter life spans and she made significantly less than I did during her career. There is something rewarding about getting something back from the government finally too, but it’s a good strategy for us. Even if she lives in her 90s it’s like 98% of her waiting till FRA. Also, she will switch to spousal benefits when I start collecting which will increase her benefits 43%

 

[Out-to-Lunch]

Congrats to hpnutty! Maybe you should post on the 2021 thread?

Congrats.

Curious why the wife started SS at 62 and you are starting at 70. Seems if you can put it off for one you can do so for both or vice versa?

I am obviously not the OP, but this is often the a priori optimal solution. Let the higher earner wait until 70, and the lower earner claim ASAP. In a nutshell, waiting until 70 could be considered purchasing longevity insurance. However, there is little sense in BOTH members of a couple purchasing it.

Take a look at opensocialsecurity.com for an analysis.

 

[Surewhitey]

Dang! Living high on the hog with 8mm! Or brisket in TX... Congrats!

 

[MarieIG]

Very nicely done!

 

[RobbieB]

Cool beans baby!

 

[CSdot]

Congratulations! What general line of business did you say adios to?

 

[hpnutty]

Congratulations! What general line of business did you say adios to?

IT.

 

[pacergal]

Congratulations!

 

[Bee4]

Good for you!

 

[Toddtheformeraccountant]

COVID and a nice retention bonus pushed it back a couple of years, but I'm here! Thanks to everyone that helped me along the way. Firecalc and this website have been wonderful guides.

Age: 62
Lump Sum Pension
401K and some taxable investments
Company paid medical premiums 'til 65
Wife started SS @ 62, I will start @ 70
Debt free since '08
NW $8MM

Although I was a bit nervous starting the process, I'm so anxious to start my Roth conversions, sell the house and move to the country and live the one Sunday and six Saturdays a week routine!

Nice...congratulations! You’re in fat fire territory. Oink away and enjoy!!