Re: Age you started Social Security?
 

If you retire early at age 62 you would get roughly 70% of what you would get at normal retirement age (which is 65, 66 or 67 depending on when your were born). If you wait until 70 or older you would get 25-30% more than if you retired at normal retirement age. That's all assuming SS is still around when you do decide. If your family medical history shows a pattern of living longer, then it might be worth waiting. Both my grandfathers passed away in their late 70's early 80's but my grandmothers lived to 96 and 100 so that's a really big spread to be hedging against. There is no easy answer but looking at the SS information they send you each year and going to the website to look into it further might help you plan it out. Some people get bored quickly, others don't. I never planned on SS being there so I started putting money into plans a while ago.

Re: Age you started Social Security?
 

Financial advisor and my CPA both said to take it at 62 and have fun........if I live to the break even point in old age then I still win 'cause I'm not horizontal.

Re: Age you started Social Security?
 

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: SS4Real</div><div class="ubbcode-body">Financial advisor and my CPA both said to take it at 62 and have fun........if I live to the break even point in old age then I still win 'cause I'm not horizontal. </div></div>

Mine said same thing. Take it as early as you can

Re: Age you started Social Security?
 

I loved my job at IBM - but not the stress - so having said that, i retired at the age 53. Am financial set with all the hard work and sacrifice my wife and i put into IBM (she worked there as well). Not having kids has its benefits as well and some downside, but i understand that. So at the age of 53 i turned the hobby into a larger hobby, play golf and travel and enjoy life for the most part, and help out family and friends when they need something. 10 yrs later I took my SS when it came up - don't need the money, so i use it to draw less on the retirement funds to enjoy life.

Optionally i can use it to pay down the house mortgage sooner, or buy Kimberly a new lexus RX, or just save it.

I cannot complain.....

Re: Age you started Social Security?
 

Unfortunately I started receiving SS survivor benefits at 13 when my dad passed away. I continued receiving it until I was 23 and it was a major factor in being able to go to college and get a degree. It was incentive to get school done because I knew I was on the clock. Almost simultaneously, I finished school, turned 23 and President Reagan killed the program. You would no longer receive survivor SS benefits after 18. I was lucky in the sense that as a poor kid I wouldn't have been able to afford college. College for me was a combination of SS benefits, VA benefits, scholarships and grants as well as what I made during the summer and spring breaks. I took full advantage of the program, got my degree and the USAF offered me a pilot slot when I finished. I've paid in a lot to the program in the meantime but not complaining.

Re: Age you started Social Security?
 

About 10 years ago at a Merrill Lynch financial meeting, they had some reps from the Social Security Administration. They recommended taking it at 62. Given all the ideas mentioned earlier, that is something to consider.

Re: Age you started Social Security?
 

I'm 46 and I've had the conversation many times with my friends that are in the same boat, roughly. None of us even figure SS into our retirement plans, so if there is anything available when I am 62, I will take it, but I'm sure not counting on it.

Re: Age you started Social Security?
 

Tell me your going to die and I can advise you when to start drawing SS