Social Security experience · Retirement CASH FLOW

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Social Security experience

3 years ago I was having a conversation with a good friend and we got to talking about SS. She said look into taking it at the youngest age possible (62) because the longer you wait, the longer you need to live to make it equal the same thing. Sounds logical.

If I wait to take it at full retirement age (67) I would have to live until I'm 79 to break even! Sounds even more logical, Right? Now my monthly payment does increase slightly every month that I delay after 62, and this is the Government Actuaries F'ing with our heads! See Fig 1

At the time of that initial conversation I was 63 and 6 Months. I filled out the paperwork and with a snap decision I was going to begin the 3 month application process!

I'm beating the actuaries at their own game What are the odds? I basically started collecting at 64 and then realized I had to stop making any money over $28k or my monthly payments would get cut off. I would not lose the money but the payments would get deferred.

Last year we did make more than $28k and I ended up in the penalty box which was not a big problem, But now I'm back! I'm old enough to make as much as I want again! (66 3/4) I'm free Free Free!

Let me know what your thoughts are on Social Insecurity. Will there be any left for you? Is SS a part of your retirement plan?

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