AK Retiree Club

That's a good project right there, I don't care who ya are :thumbsup:


Had on screw stripped and wanted to keep it as vintage looking as possible. Had been using a sheet metal screw in the spot. hated drilling out the other three.
To late now.....
 
Spent the day at the beach and got sunburned today. This trip is starting to wind down and we're going to move north a little to Nags Head tomorrow. There's a record store there I'm gonna hit tomorrow, it's in a Radio Shack of all places. I remember picking up a few cheap albums the last time I was there
 
I’m 55 but wife hasn’t worked in almost 30 so I probably have another 10 to go.
Regarding SS, I’ve heard it’s best to start drawing ASAP instead of waiting later for a higher payout. True?
I play golf so I’m ready to give Corp the finger ASAP.
 
Most recommend waiting as long as possible to start SS, to get higher benefits, which makes sense if you can wait and/or health is not an issue. Also depends on the size of projected SS payments, and relative to other retirement income, and how to fund life before starting SS. I chose to go on it asap, but mostly b/c of truly intolerable work conditions and related stress.
That may have cost me a couple hundred a month for life (over, say age 66), but the extra 'front end' years of still great health was worth it! I did TRULY enjoy giving them The Finger, as they did NOT see it coming:)
(My pension plan also includes a feature whereby it 'pays' the SS amount extra if you retire before being eligible for SS - in my case six months - THAT only cost me about $40/mo long term, also worth it in my circumstances, for an additional summer in early retirement.)
Good luck and happy dreams!!
 
I’m 55 but wife hasn’t worked in almost 30 so I probably have another 10 to go.
Regarding SS, I’ve heard it’s best to start drawing ASAP instead of waiting later for a higher payout. True?
I play golf so I’m ready to give Corp the finger ASAP.
Don't wait, you'll never catch up. If I waited to collect that extra $200 I would be in my 80's before I regained the lost $$
 
I’m 55 but wife hasn’t worked in almost 30 so I probably have another 10 to go.
Regarding SS, I’ve heard it’s best to start drawing ASAP instead of waiting later for a higher payout. True?
I play golf so I’m ready to give Corp the finger ASAP.
Depends.

For every year you delay taking benefits past Full Retirement Age, you get 8% per year *guaranteed* in benefit increase, plus any cost of living adjustments.

I can't think of any guaranteed investments that will return 8% per year. I plan on waiting until 70 so I'll get a 32%+ return on waiting.

Plus, consider your spouse.

Typically women will outlive men.

If your wife's SS benefit is less than yours, she'll get her own SS benefit plus 1/2 of yours for the rest of her life. It ain't all about you, or at least it shouldn't be if you are married.
 
The reason it is suggested to wait for SS is that it pays 8% a year until you start, up to the age of 70, i believe. In the world of investing, it would be difficult to get that kind of percentage of return from investment in bonds or funds.
 
Don't wait, you'll never catch up. If I waited to collect that extra $200 I would be in my 80's before I regained the lost $$
There are charts all over the internet that prove this point. (At least in my case it did.)

That, and the constant reminder that there aren't enough young taxpayers being born to fund SS at it's current rate, I also took mine early.(66) That, and the fact that I've already had one heart surgery made it a no brainer.
 
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I’ve heard it’s best to start drawing ASAP instead of waiting later for a higher payout. True?
I play golf so I’m ready to give Corp the finger ASAP.

It's entirely individual.
I've had numerous people tell me "you should do this" as though there's some kind of valid blanket approach to SS.....when they have zero idea of my finances.
In fact, it's become a bit of a joke around here, as the more insistent the advice, the more clueless the person giving the advice appears to be.
Ultimately, the figures/timing don't even add up the same for my wife and I individually.
They do, however, dovetail quite nicely. Which is basically pure luck.

I've done the numbers, I know exactly what I'm talking about in terms of my own finances.
If you haven't looked into this yourself, I suggest you do so before taking anyone else's advice.
 
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Having familiarity with SS will also help you grasp the medicare system as you age farther. I had planned to hold off on my SS because of the 8% return but I was fighting for heath coverage. With my Union, my health plan for my wife and I was going to cost $4700 a quarter. With Obamacare our plan would cost $75 a month for both of us. The government does not consider money removed from an IRA as being income; so I had to have my SS when I first retired. The money removed from the IRA was only considered income if it was interest earned, not principle. It saved me a hell of a lot of money by taking it early. I gained much more than the 8% from my overall savings on healthcare.

I agree with 45 that you Must do your homework to see how all the rules are going to affect Your situation. This is also so true for Medicare; so do your reading now so you know where you stand later.
 
I’m 55 but wife hasn’t worked in almost 30 so I probably have another 10 to go.
Regarding SS, I’ve heard it’s best to start drawing ASAP instead of waiting later for a higher payout. True?
I play golf so I’m ready to give Corp the finger ASAP.
I see answers all over the board here but I always heard it averages 7 years to come out ahead of drawing at 62.
I wanted to go at 62 but couldn't pull the trigger and just went on my 65th. I think that works good because I went straight to medicare. As far as losing $50 or $100 a month... I mean what are we talkin here, a K a year??:dunno:
 
Well, I may be joining your ranks sooner than expected. MegaCorp is offering voluntary separation, 60 weeks pay, full annual bonus, and 60 weeks medical coverage. Will take me through to Medicare eligibility, and then some. If I am accepted, would be a sweet way to go out. If not, I work another 20+ months to full SS retirement age of 66. I’m definitely going to volunteer...
 
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