Age you started Social Security?
 

What age were you when you started to draw Social Security and what made your decision? I'm 58 and while I have a few years to decide, not sure which approach is the smartest. I know some of you have already started the process (or delayed payments) and I'm curious as to what drove your decision?

Re: Age you started Social Security?
 

If you had a crystal ball, and knew exactly when you will die, you can figure out the date you should start.... assuming it doesn't implode.
If you are in good health, and plan to work beyond age 65, waiting until 70 will NORMALLY pay off in the long run... again assuming it doesn't implode.

Good place to start: https://www.ssa.gov/planners/retire/applying1.html

Re: Age you started Social Security?
 

Good advice from Lynn. Also, if at all possible, don't collect until your full retirement age (even if you retired before that age). Which for you would be about age 66 and 8 months.

Re: Age you started Social Security?
 

Don't agree, you do not have the crystal ball, start ASAP, Just one opinion. And don't work so long, you may take the dirt nap sooner than expected...... [img]<<GRAEMLIN_URL>>/shocked.gif[/img]

Mike

Re: Age you started Social Security?
 

And... just to be clear, you will get the same divergent answers you got from Sam and Mike from financial professionals. There is even a significant contingent that really believes to start early, and get it while you can before it does go belly up.

Personally, I like working. I like what I do; I like my clientsp; and I have the world's best legal assistant (Sherri) who is 14 years younger than me, so she is not ready to quit working either. We have already cut back our hours (that's why I have time to piddle on the cars and spend time with the grandsons) but I don't intend to fully retire until the day I turn 83. I have several healthy clients who retired in their 70's and really regret it.

Yep, the dirt nap could come any day. I have made sure Sherri is taken care of, and will have no regrets. BTW, I am 64.

Re: Age you started Social Security?
 

Difficult answers. While I am the part of the boomer generation, 56, I am not the age group &quot;riding the wave&quot;. More like the group sucked up in the under toe. I think this depends if you really enjoy your work, like Lynn. I have known so many guys who retire and die shortly after. That was their life (working) , and it was what gave them a reason to live. While others can't wait to retire to pursue other interests. So, I feel it is a personality thing that decides which strategy plan of S.S. Then, there is health to consider.
I am in the camp that you better get it while you can and as soon as you can. Life is a very uncertain and a precarious feat. Enjoy it while you can and do not look back with regret.

Re: Age you started Social Security?
 

Good point on work Lynn. In my case I still work, almost every day doing restoration work. I left a great job at 59 and have enjoyed the last 10 years. Point is have a plan, sitting in the mall drinking coffee with the other geezers won't cut it. [img]<<GRAEMLIN_URL>>/biggthumpup.gif[/img]

Mike

Re: Age you started Social Security?
 

My take: As long as you feel good and are enjoying working, don't take it.... if you have a scare and get tiered of working and are set with other investments, take it and have fun!

Re: Age you started Social Security?
 

Thank you for the excellent responses so far as they are very helpful. I'm retired, financially secure, estate planning is completed and I'm covered by my wife's health insurance which is terrific. I am in excellent health, however, both of my parents died in their mid 60's and that certainly is on my mind. I don't need the money, but don't want to leave it on the table either.

I know there must be a bunch of you in the same or similar situations as I am. Any of you think you should have waited longer to take it, or conversely, started it earlier?

Re: Age you started Social Security?
 

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: SS4Real</div><div class="ubbcode-body">Thank you for the excellent responses so far as they are very helpful. I'm retired, financially secure, estate planning is completed and I'm covered by my wife's health insurance which is terrific. I am in excellent health, however, both of my parents died in their mid 60's and that certainly is on my mind. I don't need the money, but don't want to leave it on the table either.

I know there must be a bunch of you in the same or similar situations as I am. Any of you think you should have waited longer to take it, or conversely, started it earlier? </div></div>

If you don't need it, TAKE IT and start a trust for something you love, Grandkids, a Charity .... something that will make you feel good and leave your mark [img]<<GRAEMLIN_URL>>/smile.gif[/img]