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hegemony

Social Security has tilted to favor higher earners who delay claiming benefits

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I'm glad I'm not paying in. My spouse has hit the ceiling for almost 2 decades and I doubt she'll ever get out what she's paid-in.

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Whatever. Since we don't know our termination date, there's no solid answer. Retire when you want to, not by what some software program says. At the same time, take your social security benefit. The amount is calculated by actuary tables. It basically averages out at the end for the Social Security Administration. If you delay until 70, and pass away at 71, you lost. If you don't need the money, there's always a savings account to keep it in. I plan on retiring early and getting my Social Security benefit at the same time. I also have a pension and 401k/IRA stuff. I'm not going to over-calculate this. There are far too many articles telling you when to collect.

 

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14 hours ago, Burgerwars said:

Whatever. Since we don't know our termination date, there's no solid answer. Retire when you want to, not by what some software program says. At the same time, take your social security benefit. The amount is calculated by actuary tables. It basically averages out at the end for the Social Security Administration. If you delay until 70, and pass away at 71, you lost. If you don't need the money, there's always a savings account to keep it in. I plan on retiring early and getting my Social Security benefit at the same time. I also have a pension and 401k/IRA stuff. I'm not going to over-calculate this. There are far too many articles telling you when to collect.

 

I'm a fan of filing asap. WAiting until 70 might mean you enjoy better cat food by forgoing travel, steak, and new dentures when you;'re 62.

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We split the difference. My wife took hers right away at 62. I'm still working, selling real estate, and I'll wait until at least full retirement age. If I croak then the wife can switch to 50% of mine.  I look at SS as longevity insurance since we don't need it to pay the daily bills.

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