Thumb of Michigan | davpal - 3/24/2017 11:56
Let's put it this way. If I live to be 62 I will be taking it that day. I never understood the "Get rich after 70 mentality". If you don't really care if you have it or not don't take it. Kicking up my heels and partying after 62 doesn't have much appeal to me at this point. Wait until you're 67 or 70 for what? A couple extra hundred bucks a month that you're usually to old to enjoy anyway. I know a lot of people that get to that age and putter and fart around all day. Maybe go to the grocery store or gas station or out to eat. Doesn't cost a lot to do those things. A bird in the hand is worh two in the bush and I would take it the day it gets started. At age 62 I'm not going to start saving for my old age.
In my case, I have no plans of "retiring"- well, ever I guess. Life style changes, probably. But as of today (and I have a few years yet to decide) I fully intend to be as productive as possible into my 60's. Hopefully, well into my 60's. I refuse to let the SS administration put a cap on my earnings, which will happen before my full retirement age. As Boone correctly points out, waiting pays 8% . That ain't bad. If I have no wage or earnings limits due to SS rules, thats great. I have friends who have drawn early and are in great shape, and want to stay employed in a different career now. Its tough to do when they get nicked so hard after earning their limit. If I get a bigger benefit to waiting, thats great too. My fear is that something like illness or long term care or some other unforeseen problem crops up at a time when my wife or I simply aren't able to earn extra bucks because of our advanced ages.
My bigger fear is that my bucket list continues to get longer and more expensive, and I run low on dough to get it all done.
Right now, for example, my goal to race in the 24 hrs of Lemans before I turn 70 fund is a couple hundred K short, so every little bit helps...... |
Taking S.S. at age 62
