Ronstar
Moderator Emeritus
$2904 net of medicare deduction. Took at 65.
It's really amazing how little 16 years of ER ($0 income) has affected my SS payment. I was above the yearly cutoff salary for about 10 years, but still, I expected more of an impact. I've really enjoyed these years of ER, and the cost of a few hundred dollars per month is a small price to pay for it.
I didn't claim until 70 (this July), which was difficult, watching the savings dwindle (I retired part-time in 2018, and finished working in 2019). I'm happy that I did; I get around $3,800 per month gross. I am pretty sure I can hold off taking RMDs at least until 71 (there are still some post-tax savings left), and maybe until 72. Might have a discussion with my accountant about that, though.
I've been struggling with worsening arthritis and other aches and pains, and have begun to believe that structuring my retirement to last until 100 may not be necessary, and after these years of scrimping (sort of - I bought a house with cash, added solar and heat pumps/mini-splits, and had a major fencing project done) I think I'd like more spending money. Like going out to eat a little more, and of course, ski trips, though not too far. And the house will always need something.
I claimed at 62 and currently receive $2488/mo. The young wife will never receive any sort of social security - not her own, not spousal, not survivor (thank you GPO).
Claimed at 62 and now get $733.50/month, $136 after deductions. My last year of taxed SS earnings was in 1991. 31 years ago - Wow! Thank you SS. Thank you real estate.
... I'm pretty laid back, but this lesion, so close to my eye in what I consider a hard position to work in, has me concerned.
Not sure I understand what you wrote.
"You must take your first required minimum distribution for the year in which you reach age 72 (73 if you reach age 72 after Dec. 31, 2022). However, you can delay taking the first RMD until April 1 of the following year." From https://www.irs.gov/retirement-plans/retirement-plan-and-ira-required-minimum-distributions-faqs
Sorry! I was trying to say I wanted to wait, but I don’t think I can.
At 68yrs and 6months, I have been a little more focused on health and longevity. One year ago I was diagnosed with abnormal bone marrow cells.
Cancer doc said it is just wait and watch. Then, last month I saw my family doctor, I ask about a spot on the bridge of my nose, he said, that's not a concern, but you do have a lesion higher up, (very close to my eye) that I want you to see a plastic surgeon about. So that happens in the morning.
I was sure I'd wait until 70 to collect SS, now I'm really having second thoughts about even pushing it to Mar 2024 when I'll be 69. I also pulled out our trust and started working to get that complete. I have a piece of land I don't want to leave my wife to have to sell, but the state is widening the road, so the area will have improvements if I can wait long enough. Other than that, I feel fine, did my 3 mile walk and have no more than the usual older person aches and pains. I'm pretty laid back, but this lesion, so close to my eye in what I consider a hard position to work in, has me concerned.
What?? They withheld $597.5 from your SS?
Wowza! What's the story here?
Then, last month I saw my family doctor, I ask about a spot on the bridge of my nose, he said, that's not a concern, but you do have a lesion higher up, (very close to my eye) that I want you to see a plastic surgeon about. So that happens in the morning...
I'm pretty laid back, but this lesion, so close to my eye in what I consider a hard position to work in, has me concerned.
I am sorry to hear about your problem. I hope it will be all right.