SS at 62 or 70?

[Pilot2013]

Wasn't the last major change to SS about 30 years ago? If I remember correctly, everyone that was affected by it was under the age of 40 or 45. I highly doubt any new changes will affect anyone above the age of 50. I also think it's more likely that the maximum tax amount will keep rising.

Having said that, I plan on taking SS at age 70 unless things get real bad after I turn 62 with the market and my portfolio takes a huge hit. So my plan is to wait as long as it's feasible for me to wait.

I'm 100% ok with lifting the SS Tax cap, (and only marginally increasing the max payout) to keep SS solvent, as long as we look at what we need to change benefit wise on SS and Medicare. My 90 year old in-laws (deceased in the last year) did not need birth control, etc...

 

[retiredunder50]

I seem to recall about a year and half ago, we were mostly surprised by the passing of the file and suspend/restriced application elimination. It wasn't heavily advertised before it happenned and it didn't grandfather most of the population. Some people considered it a big change/loss.

 

[travelover]

......... My 90 year old in-laws (deceased in the last year) did not need birth control........

Yea, if followed closely, the rhythm method works.

 

[mathjak107]

Frankly I don't have a clue what you are saying here. But to me maximized benefits as a couple is the same as milking the system. I know I have a way with words.

optimizing social security benefits by using the tools and laws left in place to be used is no more milking the system than using the tools and laws in place so your fair share of taxes is the lowest amount you can legally figure out you should pay .