VIDEO ON MSN MONEY
"Those who delay until age 70 can boost their checks by .."
unstated is how many people are DEAD by 73 years old......
"How to really mess up your retirement."
Okay. Dying before you retire. That's the only way that you can REALLY mess up. And that's exactly what the SSA wants you to do. Die before, or shortly after, payment is realized.
Retire and thus, open a job position for someone younger that needs a job.
calculate your own numbers, take SS at 62, and make a guess on when you might die. add up the "early" SS cash.
then do the same calculation if you start later untill that same death date.
THEN decide if starting SS at 70 years old makes sense for you
Retire as early as possible! Don't be fooled into those investment people who tell
you that most people live to 80 or 90. Just seen alot of friends not make it long after
retirement . One telling me to work like him till 67 and collect that larger SS check.
Well now his first year of retirement he's dealing with cancer. Look at the difference
in that SS check its only a couple of hundred dollars! RETIRE ASAP life is short.
You only live once..but your Dead Forever!!!!
Y'all think it would be OK for us to have just spent $35K on remodel to stay in our house bought in 1977 and that we intend to die in? Or to take $15-20K and spend a month in Europe?
I mean, we typically live off about $50K a year. I think we ARE good to go...kind of tired of sitting on this money and want to USE some of it NOW.
The group most likely to mess-up your retirement is THE GOVERNMENT.
1) They will tax your SS benefits if you have too much saved.
2) They will increase the tax on your IRA and 401k money.
3) They will start taxing your Roth Accounts
4) They will decrease you SS benefits.
Why will they do these things, because they will not want to cut government spending, to pay for Obamacare, and to keep their retirement benefits fully funded.
The only way to stop it is to take your SS benefits ASAP, before they have the chance to screw you over.
This advise is all well and good .... I had severe back surgery and had to quit work ... I am on Social Security Disability .... I would have never made it to retirement without the surgery. Seriously take a good assessment of your health .... retire while you have quality of life. My wife is a kidney transplant recipient (17 years) and I am having difficulty trying to convince to file early (she is 64) for Spouse Benefits ...... "We ain't getting any younger".
I am enjoying retirement ..... I volunteer at church, hospice, school. I love to read, enjoy digital photography. My wife and I live near a small rural town (25000 people) with lots of great things going on ...... I DO NOT MISS WORK just the wonderful people I worked with ..... whether you live to 55 or 105 life is short ... ENJOY IT!!!!!!
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