Another Reader
Thinks s/he gets paid by the post
- Joined
- Jan 6, 2013
- Messages
- 3,417
Okay that is fair.
A high COL may need more than what your SS will provide. So even with SS you may still need cash flow from investments. But that is after you have turned 65.
If you want to Retire Early, you need that same level of cash flow without SS.
Many people rely on their investments early in retirement and then reduce their withdrawal rate when Social Security and pensions kick in. You can retire very early and have decades before you are eligible to collect Social Security if you do it right. Look at some of the blogs written by early retirees, including Root of Good, written by ER member FUEGO, Go Curry Cracker, and Mr. Money Mustache, to name a few.
I live in the highest COL area in the country, Silicon Valley, and did not collect Social Security when I retired early. It's a nice check to get every month now, but I would be fine without it.