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02-14-2020, 04:14 PM | #3436 | |
Seize life. Be an ermine.
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Quote:
There's a maximum social security payment that a person can get. But does that maximum go up if you take a delayed payout? In other words, if I'm eligible for the maximum amount at age 67, is the amount still going to be higher if I wait until 70? Or is the cap always the cap?
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Active fan of the greatest team in NFL history. Last edited by Rain Man; 02-14-2020 at 04:21 PM.. |
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02-14-2020, 04:15 PM | #3437 |
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Good post by Rain Man. He must have been a Claims Rep in another life.
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02-14-2020, 04:16 PM | #3438 |
Seize life. Be an ermine.
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Yeah, the goal is to not die at 71, because then you've left money on the table. I've built that into my plan.
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02-14-2020, 04:18 PM | #3439 |
Banned
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Burst.
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02-14-2020, 04:20 PM | #3440 | |
Seize life. Be an ermine.
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Yeah, I guess you want to take into account your own genetics. If you don't think your odds are good of living a long life, then take it early. But I think there's a risk in that that may not offset the reward for most people. My family tends to be long-lived, and barring some bad luck I've saved enough to live well until age 70. So for me, taking a delayed social security minimizes my chances of being evicted penniless from a flophouse at age 97.
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02-14-2020, 04:21 PM | #3441 | |
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Big deal is you can’t take Medicare until 65 so you’re either buying health coverage on a prorated social security check or flying naked for 3 years. Don’t do it. My recommendation is always work as long as you can and don’t take anything RMD Or SS until they make you. |
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02-14-2020, 04:27 PM | #3442 | |
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02-14-2020, 04:29 PM | #3443 | |
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Delayed retirement is a separate beast itself. If I remember right, I think you can earn a MAXIMUM of 8% per year AFTER your FRA (Full Retirement Age). The benefits accrue each month after you reach FRA, and terminate at age 70. You can't earn anymore past 70. So, you can up your age 70 benefits. Again, this would be wise if you are making a decent living and working/have enough saved to wait. |
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02-14-2020, 04:30 PM | #3444 |
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02-14-2020, 04:32 PM | #3445 |
Stroking to the SB Champs!
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Men in my Family don’t live very long. Got to enjoy while you can
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02-14-2020, 04:34 PM | #3446 | |
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02-14-2020, 06:58 PM | #3447 | |
Fish are scared of me
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Guess I'll find out in about 7 years. |
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02-15-2020, 02:28 AM | #3448 |
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If anyone has an inclination to buy Bayer, I’d stick that one on hold.
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02-24-2020, 06:54 AM | #3449 |
Roy E.
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Today is gonna be brutal.
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02-24-2020, 07:30 AM | #3450 |
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