ShokWaveRider
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Facts:
If I take my SS at 69 instead of 70 I would get $xxx a month more ($x,xxxpa). The actual numbers are not the really the point of this post. At my 69 rate it would take approximately 16 years to benefit from waiting till 70. Here is where I am coming from:
69 rate divided by the difference per annum is approximately 16. I will be 85 if I make it, and based on my health, I am not sure I will.
The dilemma is DW is still on the ACA till I am 70, we have a 5 year difference in our ages.
Here is what I am struggling with. At what point will the ACA increase (as our MAGI will increase substantially) make taking SS at 69 viable or non-viable. The increase will not be as much as my SS of course, but I am struggling with taking SS at 69 and paying a substantial part of it to an insurance company for DW's ACA premiums and the associated OOP costs. If 50% has to be paid to ACA if DW needs to make the max OOP, should we be happy with the other 50%?
We do not need the money to live comfortably, but I am struggling in leaving the money on the table. We have no Heirs.
Have any folks here faced the same issues, If so, what did you do? For the other SS experts here, what do you all think?
Thanks in advance for your opinions.
If I take my SS at 69 instead of 70 I would get $xxx a month more ($x,xxxpa). The actual numbers are not the really the point of this post. At my 69 rate it would take approximately 16 years to benefit from waiting till 70. Here is where I am coming from:
69 rate divided by the difference per annum is approximately 16. I will be 85 if I make it, and based on my health, I am not sure I will.
The dilemma is DW is still on the ACA till I am 70, we have a 5 year difference in our ages.
Here is what I am struggling with. At what point will the ACA increase (as our MAGI will increase substantially) make taking SS at 69 viable or non-viable. The increase will not be as much as my SS of course, but I am struggling with taking SS at 69 and paying a substantial part of it to an insurance company for DW's ACA premiums and the associated OOP costs. If 50% has to be paid to ACA if DW needs to make the max OOP, should we be happy with the other 50%?
We do not need the money to live comfortably, but I am struggling in leaving the money on the table. We have no Heirs.
Have any folks here faced the same issues, If so, what did you do? For the other SS experts here, what do you all think?
Thanks in advance for your opinions.