Professional Social Security Analysis and Strategy Report || FOR MORE INFO www.socialsecuritylane.com/

@richmilito5417

Жыл бұрын

70!

@FinancialFastLane

Жыл бұрын

@@jacksummer854 What? I'm providing education

@slimdude2011

Жыл бұрын

To be honest, there is no professional analysis nor strategic reports for Social Security benefits because, everybody's financial and personal situation is different. It strictly depends on the individual financial status.

@maximumoverload5134

2 ай бұрын

You didn't cover disability benefits?

@FinancialFastLane

2 ай бұрын

@@maximumoverload5134 True. Disability benefits are very different from retirement benefits. I am a retirement income planner.

I’m 84, took benefits at 62 and do not regret doing it at all. I have had a great 22 years I would not exchange for any amount of money. Live a responsible life, be debt free and and enjoy life. There is a whole lot more to life than money. Just went to my 65th class reunion and half are gone. Just do what feels right for you and you may get lucky. I go to the gym, ride my bike and stay off my butt.

@340rps

Жыл бұрын

You got it right. when you wait to take it , you have to make up all the money you you could of had for years and by the time you break even, you probably be dead or not wanting to do anything anyway. Great to see that you are that spry at 84. How many people can say that?

@bbustin1747

Жыл бұрын

I’m hanging onto mine until 70 , I like that nearly 9 percent pay raise. The best part it’s compounded so as long they like to borrow money and put it on the debt. We will continue to see this inflation. They aren’t cutting benefits. They’ve decided to inflate away your benefits purchase power. That’s likely a 15 percent inflation… call it the CPI lie.

@paulweston9441

Жыл бұрын

After you retired at 62, what did you do for Health insurance?

@myrtleborodziuk7163

Жыл бұрын

@@paulweston9441 l dont know about the other people on here but you can work and receive your SS I personally worked 30 hrs so I could have my benefits with the Co I worked at until 65 then I said goodbye

@vibranthang13

Жыл бұрын

Me too! Heck we don’t know if we’ll be around by age 62. I have no regrets!!!

I'm 58years old living in California, I'm hoping to retire at 60 if things keep going well for me. Bought my third house last month and I can't be more proud that am i now. I'm glad I made great decision about my finances that changed me forever but now I can't seem to make any other smart investment for my financial security when am retired.

@Believer292

11 ай бұрын

The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional like I did. If you get the facts about saving and investing and follow through with an intelligent plan, you should be able to gain financial security over the years and enjoy the benefits of managing your money.

@james.atkins88

11 ай бұрын

@@Believer292 It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $21k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.

@hunter-bourke21

11 ай бұрын

@@james.atkins88 I think this is something I should do, but i have been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same.

@james.atkins88

8 ай бұрын

*Mary Onita Wier* is my portfolio-coach, I found her on Bloomberg where she was featured, I googled her name on the internet. Fortunately I came across her website and reached out, You can also verify yourself.

@rebecca_burns14

8 ай бұрын

Thanks for the advice. The search for your coach was simple. I investigated her well before using her services. Considering her résumé, she appears competent.

As a financial professional I've had hundreds of people ask me when they should start drawing. My answer to that question is always "when will you be dying?" Average life expectancy is about 80 years for humans. At age 80, you pretty much break even with any selection you make. If you live to be 100 it's certainly beneficial in the long run to wait until you're 70, if you live to 70 and delay until 70 it's catastrophic. My mother chose to retire at age 63 and filed her paperwork ahead and notified her employer. She had a massive stroke 25 days before her 63rd birthday and died the next morning. That's a drastic example but it certainly is a reality for a lot of people and their families. The other thing anyone should consider is what do you give up by not retiring early? If you continue to work until age 70, you missed out on 7 years of opportunities and things you could do while you're younger. The older you get, the harder it gets to go on an African Safari, hike to Machu Picchu or sail around the world. Don't discount your dreams. Consider how meeting all your goals in life weighs out with the difference in benefit.

@340rps

Жыл бұрын

Live to 100 and probably 20 of those years are in a nursing home , and who gets all that money then??

@maximumoverload5134

2 ай бұрын

Good answer ! Live it up while you can enjoy it ! Well off I go on my adventure at 72 y/o , Costa Rica paragliding here I come !

I took mine at 62, i saw many people dying before they reached full retirement age. After 62 your health seldom gets better. My house was paid for so it was a no brainer. That was 2008, no regrets.

@PHILDRU911

Жыл бұрын

We have the same outlook.

@jackjohnsen8506

Жыл бұрын

I did the same thing but started in 2006, worked part time for 10 years and had fun...now age 78...

@ericbush6124

Жыл бұрын

Wait and I might not see it retirement at 62

@jabrojammer

Жыл бұрын

I agree. At 62 I took mine. Now at 65 I have cancer and 'Maybe' my days are numbered. I'm so glad I didn't wait!!!

@cynthiakeller5954

Жыл бұрын

Ahh, 2008. The year when Obama took office and my 401K started taking massive losses, for *8* years.

Filed at 62. Now 66. Happiest years of my life; not looking back.

@carolyncarter2615

3 жыл бұрын

I know several who have taken their benefit at 62 (a couple while still working) and not one of them have ever said they regretted taking it early.

@clairemoore9012

3 жыл бұрын

If I file at 62 will it still increase with cola as well?

@mamanita1298

3 жыл бұрын

What did you do for insurance until you could get Medicare?

@lauralampe1664

3 жыл бұрын

@@clairemoore9012 my Dad filed at 62 almost 29 years ago. He gets the COLA every year. As far as I know, everyone collecting SS gets the same COLA no matter at what age one started collecting SS.

@pattytafoya8865

3 жыл бұрын

I will be receiving a call from SS next week so I am happy to get money I have earned.

I filed for SS at 62- absolutely no regrets. You might just a well get your money while there's still some left.

@jeffdavis6808

3 жыл бұрын

Yes sir Gen xers gonna get theres before its gone.

@scotmandel6699

3 жыл бұрын

@Ikeelu now Same for. I'm 62 next March.

@kthx1138

3 жыл бұрын

And while you're still ALIVE. Only God knows how long any of us are going to live.

@sherriburleigh7886

3 жыл бұрын

what about insurance?

@jeffdavis6808

3 жыл бұрын

Yes Sir not gonna last much longer, u cant make that money up you lose from 62 till ur 67 if its still avalible for yall.

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

@SarahWood-ro9dz

Ай бұрын

Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks

@bankstephen7241

Ай бұрын

@@SarahWood-ro9dz However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other

@SarahWood-ro9dz

Ай бұрын

@@bankstephen7241 Oh please I’d love that. Thanks!

@bankstephen7241

Ай бұрын

@@SarahWood-ro9dz Judith Ann peace is her name

@bankstephen7241

Ай бұрын

Lookup with her name on the webpage.

When I was in my 40’s one of the salesman I worked with counted down the days til he turned 65 to retire and get social security . He died three months after that date. That always stuck with me. I was in a high stress job . Could not wait to say bye bye to my employer and did so ! My plan was to get a part time job with health insurance at 62. With my ss benefit and the income I learned to live on less and was happier than having a big salary! There are jobs out there that give health insurance for over 20 hours but if you you cannot find one figure health insurance in your plan. The biggest challenge was to DOWNSIZE. You have to be bold ! Our culture seems to push you need millions to fund your retirement. Not so. I am 67now. No longer working and can live nicely on social security alone! No regrets! And what a great feeling quitting that job!

@Wendy5940

2 жыл бұрын

you probably don't live in CA, nor have a house or car payment, but a lot of savings. If so that is great.

@royharper2003

2 жыл бұрын

yep that is why I am going to file for benefits as soon as I am eligible because there is no guarantee that you will be alive if you wait. I know people much older than me who waited and it wasn't like it was the difference between night and day if they even lived long enough for it to make a difference

@JuanCarlosLTO

2 жыл бұрын

I agree with you. People can’t wait to retire and they don’t reflect on the fact that they’ll be older! Downsizing is key! I’ve worked since I was 9 and that’s all I know but there has to be a different way, a way that it’s not employment centric but one that centers on quality of life. Of course we need money and because I don’t come from money I must work for it but I don’t believe in amassing wealth for the sake of it. I want to live a without complications, just a simple life.

@cashcowcw123

2 жыл бұрын

I have a friend who turned eighty last year. She took early retirement at age 62. Now she said her SS benefits barely covers her monthly expenses and regrets taking SS at 62.

@royharper2003

2 жыл бұрын

@@cashcowcw123 how much more would her check have been at 66 or 70?

My husband and I claimed at 62 because we were already retired. When my husband turned 62, we calculated that if he waited until full retirement age to collect, it would take 11 or 12 years to earn back the money he would have received from 62 until 66. No one is guaranteed tomorrow so, if you can, I say draw at 62.

@purpleflowers149

3 жыл бұрын

Correct, I feel the government would rather for you to keel over than to hand you over what you deserve and even then they're still blockage in the system as far as medical Care and so on it's sad with Americans have to go through it seems like everything is a scam in America

@grumpyoldlady_rants

3 жыл бұрын

@@purpleflowers149 - Yes. Personally, I feel that our government just wants poor people to just die.

@rp1645

Жыл бұрын

YES you my friend did the same thinking me and wife Did. You are absolutely correct. These Financial people always want you to move all your investment to them. They want you to keep working. They make Money off of you still working.

@janasher4940

Жыл бұрын

I did the financial analysis on this also. It would take SSI almost 12 years to pay back the $114,000 dollars I would collect from 62 to 67 yrs. That is 12 years I could travel, improve my health by exercising and take up new hobbies that I would not do for the 5 yrs till I can collect full benefits. The real problem I see with their argument to wait is they keep moving out my full benefits age! so now they are stretching out the 'extra' benefits I would receive across 5 years instead of 3 years. This year I keep hearing that they want to move full benefits out to 70 yrs of age. So the same 'extra' benefits is getting stretched across 8 years instead of 3 years. This means it will take them longer than 12 years to catch up to the money I would collect if I start at age 62. This is no longer making sense to me financially.

@340rps

Жыл бұрын

@@rp1645 You got that right. The financial people will say, if you were out of the market for this period you would have missed x amount of gains. What they fail to tell you is for they same period you would have missed x amount of losses.

I lost my job so I didn’t have a choice but to retire at age 62. I never regret it

@krane15

Жыл бұрын

I think COVID made the early retirement decision for a lot of people. You lose your job a few years from full retirement, not many of us are willing to go through a job search and start a new job just to get a few more years until retirement.

My rule of thumb on SS benefits is if you're working and don't need the money, delay your benefits until you stop working, when you may need them.

I'm retired Military of 20-years and currently collecting a pension. I've always known that if God spared my life to see age 62, I was going to file for social security early and not wait to collect what belongs to me. I actually filed 5 months out until i became 62. My application was approved and settled a day after my 62nd birthday. I'm currently working part-time and my first check from the administration isn't due until August. I lost by filing early, but it was worth it and I'm completely satisfied.... Now I can live my life and its GOOD!!!!!

@squirrelcovers6340

Жыл бұрын

A god had nothing to do with it.

@jackjohnsen8506

Жыл бұрын

The right thing to do, and I did the same. when I was young I found out about a couple who waited until they were age 70, and both died within one year of getting the first check.......so sad

@faranger

Жыл бұрын

@@squirrelcovers6340 You can let him know that when you meet him.

@billj9838

Жыл бұрын

@@squirrelcovers6340 relax

@dereksmith6097

Жыл бұрын

This is my concern too. I am retired military and 100% disabled vet so that is 2 checks. Then I am eligible for a government retirement and I have some money in the government thrift savings plan. Thats 4. I work part-time also as a college professor. I have to figure out if early is an advantage and collect those 5 checks as soon as possible, but that IS a lot of money left on the table IF I LIVE LONG enough. I am sure SSA banks on most people waiting and dying early.

I took mine at 62 and never looked back... That was 4 years ago.. I have no debt and have done very well investing ... I have heard too many stories of those who waited to get the full retirement benefit only to die before receiving any benefits or soon after... I am a firm believer that the present value of money is greater than that down the road.. No one knows when their time is up.. This was without a doubt the best decision for me.. Good luck..

@ltruj123

2 жыл бұрын

What did you invest in?

@dale1k878

2 жыл бұрын

@@ltruj123 Mainly a well diversified stock portfolio… There is always some risk, but it has worked out well for me…

@ericbush6124

2 жыл бұрын

Took mine at 62 a bird in the hand yes not looking back retired at 62

@marcohoy8458

2 жыл бұрын

Yes, I definitely agree with your comment! No one knows how long you will live...

@pwk22

2 жыл бұрын

I'm coming up on 67 and am in excellent health, exercising five days per week. Short of getting hit by a bus, I plan on living into my nineties. So I'm waiting until 70 to start my benefits.

Turned 62 last July and took my FERS pension and Social Security. No regrets.

@sheilagoos645

3 жыл бұрын

You were lucky to have a pension- many do not. Also, it makes no sense for FERS people to use up our TSP when it can be left to our family when we die, unlike SS.

@stephencutler2239

3 жыл бұрын

Glad to hear your thoughts. There is no one "best" time. It worked for you. You did what is right for you. I dont worry about using "my" FERS/TSP to maintain my quality of life.

@gw5309

3 жыл бұрын

@@stephencutler2239 Agree. Every person's circumstances are different. I could have retired at 57 and taken the SS supplement. I had a guy who worked for me who pulled the trigger when eligible at 56 who said "you're leaving money on the table" if you didn't retire when eligible and take the SS supplement. My response was that raking that money off the table does me no good if I can't live on it. But he had a wife who had a teachers retirement; I didn't. He did what was right for him.

@adelaalvarenga1669

2 жыл бұрын

I will be 60 in December. I'm planning to retire at 62. and have some fun with my free time.

@royharper2003

2 жыл бұрын

@@gw5309 Yeah I am going at 57 with 30 years myself. I can easily get by on my pension and supplement because I have led a very modest life but I am single and never had kids. Like you said, everyone's situation is different.

I did it at 65 even though retirement age was 66. I never liked them moving the goalpost and decided to keep on the same schedule as it was intended. A personal decision. I can see the pros for any age and cons too. Takes awhile to break even if you defer it though. My dad didn’t last that long after he retired and he was in good shape. You never know.

Another one, here, who chose 62. Living simply, stress free. These are the best, healthiest years of my life. Am 73 now.

How many people held out until their 70th birthday, worked at a job they've hated for 30+ years, and died a few years later because of bad health associated with the job they hated?

@barfpuker2732

3 жыл бұрын

Should we raise our hands?

@samandros3451

3 жыл бұрын

If you don't need the money immediately, you can wait to start SS after you stop working.

@barbarailarpenter6815

3 жыл бұрын

Millions of people, is my answer.

@kevinhiggler2896

3 жыл бұрын

@@samandros3451 Age 70 maximizes your SS payout. It increases 8% per year for ages 66-70, bigger steps from age 62-66. So many people wait. Others save their 401K/IRA savings if those do better than 8%/year by taking SS. But SS sucks if you make too much money, on part time work, you start getting taxed 50% of the SS payments. Lotta math in maximizing money.

@mailywong9612

3 жыл бұрын

Too many to count

Worked with a guy who was getting a pension from a job and holding off till 66 to get full ss and pension from 2nd job, co-workers stopped to pick him up one morning,he passed away in his sleep, he was 64 years of age,same age as me.I retired shortly afterward.It's not worth the stress for a few dollars more a month when your in your senior years.

@lauraflores4039

2 жыл бұрын

I totally agree with you Vince.

@olyguy2000

2 жыл бұрын

Amen!

@ADG-pl7ur

2 жыл бұрын

covid vaccine dun him in

@340rps

2 жыл бұрын

Your story is like mine . Out ot the 6 guys I worked with at retirement age, there are 2 of us left. One was still working at 32 years and had a higher paying position. same out come, didn't show for work and found dead in his sleep.

@ADG-pl7ur

2 жыл бұрын

@@340rps how old was he?

I took mine at 62 and I'm now 65 with lung cancer. My days are numbered?? I'm so glad!!!

I really didn't care to wait until I was 67 or 70...Started collecting at 62 and still worked part-time that kept me under the limit that I could earn...It worked out for me and my wife decided to retire at 68 and I also had a pension that I would start collecting at 65...More checks at an early age and the cola every year, especially with inflation increasing...I come out fine...I don't get retiring at a later age and only collect less money with a shorter life span and may run into health issues...I rather have my money earlier and then enjoy my life with good health

@teeduck

2 жыл бұрын

My buddy thought that and died of cancer at 61, never got his 1st check.

@republicansthatdidntvotefo1605

2 жыл бұрын

@@teeduck What's up with these pharmaceutical Companies? Haven't seen a "cure" for anything 30/40 years.. Everything is a lifetime Medication maintenance plan...🤔 This research needs to be turned over to universities? Or take it out of private$$$ hands..

@teeduck

2 жыл бұрын

68 is retiring at a later age, which is what you did. Try again

@iayang3045

2 жыл бұрын

True. Some of my co-worker worked til they are in their 60 n retitred at mid 60's n they died before get to their 70's so i feel its not worth waiting.

@lindamishalanie5593

2 жыл бұрын

I tend to agree with this. Life is too short and you never know what's in store. Retire early and get your time back to enjoy life.

Retired at 66. Took FERS, TSP and Full Social Security. Glad I waited.

I married a younger hubby...life holds no guarantees..so I'm gonna retire at 62 and enjoy whatever years I'm gifted

@jdfflats1

3 жыл бұрын

Lucky hubby

@mikejw58

3 жыл бұрын

@@jdfflats1 You mean lucky lady

@jdfflats1

3 жыл бұрын

@@mikejw58 lol

@kimberlyrappo5846

3 жыл бұрын

Men in my husband's family die young, usually just before retirement. He plans to retire at 62 and not collect SS until 6 years later when I retire at 65. So his SS will kick in at 68. Happy to say we have been planning for our future since our 30's. My boys are 17 and 26. I already have them involved in investing and making plans for their future, because it's looking pretty bleak for the millenials. Get your kids involved now.

@edb3877

3 жыл бұрын

@@kimberlyrappo5846 Excellent advice, Kim. I did the same for my son. He went into the Marines in 1993 and we wrote letters to each other quite often. In one of them I mentioned saving and investing and how one can get a tax deferral in an IRA. We discussed that a bit and then I told him that I would match his IRA contribution up to $1000 per year. He thought that was a great deal, so accepted. I helped him set up an IRA account and sent him a check for the 1st year's contribution. For the next 3 years of his enlistment, we both did the same. Instead of investing in the S&P 500, we decided that VGHCX would be a good vehicle for his investing. He got out of the Corps in 1997 and has kept this little IRA only these days it is not so little anymore. He is well on his way to millionaire status thanks to his 401K plan at work and a little boost from his IRA. I made the same offer to our daughter and her only comment was, "But, Dad! That would cost ME $1,000!". Needless to say, her financial situation is less than great and probably will be for the foreseeable future. OK, so I'm batting .500 in the child financial awareness game. Not bad... but could be better. :-/

I took at 62 and I'm happy I did. I did it all online and never left my house.

Filed at 62 $2200 a month, can’t beat it

@MrEdwardCollins

3 ай бұрын

Well... $3,143 beats it... the amount you would have received (not counting the COLA increases) if you had waited until 67 to file. :)

If you are going to live past 80 and don't need the money, file at 70. If you are in poor health, file at 62.

@htsyami

3 жыл бұрын

How do you know you’re going to live past 80? Life gets extra unpredictable the older one gets.

@EdDunkle

3 жыл бұрын

@@htsyami Try to get term life insurance. The company will let you insure your life until just before you actually die. (I'm not entirely joking.)

@maeu59

3 жыл бұрын

If you think you’re going to live past 80 take the money and then invest it if you don’t need it. Also 8 years of waiting you give up a lot of money that can take years just to break even.

@gblueslover8807

3 жыл бұрын

But nobody ACTUALLY KNOWS what age they'll live to... Too many variables.... I retired at 64.5. Glad I did.

@pauld8790

3 жыл бұрын

I'm going to retire at 62 and continue to flip baseball cards and make that a living

I'ma early retire at 62 and cash out...not sure how long I'm gonna live so I'll start early, good thing I started investing

@Peter-td3yk

3 жыл бұрын

My friend pat died at 63 ish hopping for a higher return he actually got zero from ss...

@donaldfrazier5244

3 жыл бұрын

That is exactly what I did bought an RV and traveled for months it was a blast

@clwest3538

3 жыл бұрын

@@Peter-td3yk This is what I think about - a lot. Death benefit from SS is still at $255 I think - so just one check for me would far surpass that amount. I have 1 child, not married. I do not need it now, so I would probably invest it all (no debt, paid for house, yada, yada - thanks mom and dad for teaching me that debt is sometimes a necessary evil, not a way of life). The realtor who sold me my house passed at 64 unexpectedly - massive heart attack; her family said they didn't know she even had heart issues! We never know when our 'time is up' ... My dad is 86 (and a great-grandpa) but doesn't enjoy travel (bad knees) so he is giving away a lot of his $$ now to family who needs it and his favorite charities. However, he is retired military so between veteran benefits and medicare his medical is covered - but he is healthy as a horse! :-D My view has been, what is the point of having 'lots' more money later, if you can't enjoy it - just to pay higher taxes after a work life of paying in (I've been paying in since I was 16 and got my first 'real' job) or overpriced medical bills?.

@WestCoastDP

3 жыл бұрын

Had friend bragging about he'll get $3,000 per month when he applies for S.S. at 70. At 69 1/2 he got skin cancer and died 5 months later. Ekkk. His ex-wife though get's his S.S.

@carolyncarter2615

3 жыл бұрын

@@clwest3538 Tomorrow is not a promise. A family friend who I've known since she was a baby, passed away from Covid-19 complications on April 7. She was only 52, worked for the IRS since she was 18 and was looking forward to her retirement next year after 35 years with the agency. Three of my half-brothers died at 63, 65 and 69. I'm 60 and making plans to start drawing my SS benefit at 62.

I turned 62 in January will receive my first benefits direct deposit next month 🥂

The point is to make a decision that is right for YOU and your situation, not what is right for someone else. I just turned 60 and plan on working to age 67. Not just because that will give me a "full" social security retirement benefit but because that also seems to be the right age for me to retire. Right now, I am working a job that I thoroughly enjoy and am making the highest income by far that I have made my whole career. Why would I want to give that up by retiring early? I still have time to vacation and do things that I enjoy while I am working. My company gives me almost 6 weeks paid time off. I understand if another person is working a job they don't like, and dread going to work every day and can afford to retire at age 62, that taking the early retirement benefit might be right for them. But that is not the right choice for everyone.

@richarde1355

Жыл бұрын

Great response!

@roncraft2042

Жыл бұрын

Agree completely!

@santifam4083

Жыл бұрын

I am looking for a sugar momma….. to accompany you on one of those 6 weeks…. 😂

@curlyb4c95

Жыл бұрын

👃 good answer.

@jmm1817

Жыл бұрын

Yep, that's me also. Self-employed Still making multi six figures in my 60s with plenty of freedom and free time

I have an extremely PHYSICAL job, it's not always about maximizing payout - maximizing quality of life.

@karinap4584

3 жыл бұрын

I agree, i am young and i would love to retire early. What scares me is that when the younger Generations decide to retire the age will be so ridiculous for retirement and I doubt there be any money by then retirement.😞😞😥😥😭😭😭

@thommysides4616

3 жыл бұрын

@@karinap4584 They will start by moving the early date to retire to 65 and the normal date to 70 and the max date to 75. That should buy them 20 years or so. We need to start having babies and not so many abortions. They are killing our future work force!

@Boobtube.

3 жыл бұрын

@@thommysides4616 thank you to the democrat thing called "planned parenthood"

@Mexicobeanpole

3 жыл бұрын

Yep. The men in my family had super physical jobs. They made it until late 50s before their bodies couldn’t do it anymore. It’s real.

@thewizzard3150

3 жыл бұрын

If you want to maximize quality of life leave america.

Well I just turned 50 in April. I'm an RN, have a pension from one hospital and a 403b from my current hospital. Along with SS, I sure would love to retire at 62. Nursing is not an easy job and my body is getting more beaten down by the day.

@mavamQ

3 жыл бұрын

Saving your body is a great reason to retire at 62, but, if you don't need the income, waiting to file for SS is a good plan.

@davidmagen415

3 жыл бұрын

Go for it. Remember a shroud has no pockets.

@user-qr8ki8ue4i

2 жыл бұрын

Right? It's damn near impossible to do this job until FRA. There's a reason you rarely see RN's beyond age 55 in the hospital.

@davidmagen415

2 жыл бұрын

Go for it just check w your financial advisor that you’re able and go for it . It’s been 4 1/2 years ( I left at 60 1/2) and never looked back . Worked 2 jobs mist of my life now the rest of the time is MY time🏝

@davidmagen415

2 жыл бұрын

After a while working just sucks the life and so much positivity out of your life you don’t even realize it

Retired 2 months ago at age 60. I was struck with covid 6 months ago. It was one of the best slap into reality hits I ever received. House and car has long been paid off. No bills. Life is short. As I age, money becomes less important and TIME more important. Always was a saver and now its paying off. Get off the Jones train...it will kill you.

I advised a friend to draw at 62. He decided to wait until he turned 65. He died just before he turned 65, so never received a dime if all the money he’d paid in for 47 years. Too many never make it to 65. My brother barely made it to 62. I have many of these stories. Life is uncertain. Draw as soon as your old enough!

@Fr869100

Жыл бұрын

Unfortunately saw that many times. I always gave folks all the facts, showed them how long it would take to make up what they lost by not filing at 62. It’s a choice that needs to be made individually based on life circumstances. Also had folks file at 62, collect and invest the money until full retirement date and then write a check for the entire amount they received and started over at full retirement. That is no longer allowed with law changes but we that worked their for so long have seen it all and it is a choice people have to make individually or with their financial counselors! We were not allowed to recommend either way but were all more than happy to show them the facts!

@Dragonfruit260

Жыл бұрын

Wow…..thx for the advice 😢

@grumpyoldlady_rants

Жыл бұрын

Exactly! My brother died at 59.

@18181825

5 ай бұрын

I agree

@MrEdwardCollins

3 ай бұрын

You said, "Too many never make it to 65." Well, that's true... but, many MORE make it to that age than not. In fact way more than half of the population makes it all the way up to 80. The percentage of 62-year-olds who make it 65 must be in the 90th percentile. If you are a 62-year-old woman, for example, your life expectancy is about 85. And this is the median. Meaning, 50% of females will live even longer than this! If you are a male, it's a few years younger... but it's still very likely that a 62-year-old make will make it to their 80s. Unless you are terminally ill, unless you know for sure you won't live to be in your early 80s, you have to go with the odds. You do. Granted, there ARE valid reasons for taking SS early. Every situation is different and some simply need the money. But taking SS early just because you think you MIGHT die early... is not a valid reason. It's not. A LOT of seniors who took SS early are now finding they have to go back to work... because their small SS check just isn't helping to make ends meet. Sorry about your friend dying just before he turned 65... but at least he didn't regret not taking it early. (Because he died... you don't regret anything when you are dead.)

My thoughts were always to retire at 62. But because of COVID-19 and new management working us 7 days a week, I decided to retire early. Luckily I’ve got an IRA so that gets me by until my first social security check in August. Tomorrow is not guaranteed so my thoughts were always to get it ASAP at 62. I’ll be 62 in June of this year and I’m loving the time off!

@lauralampe1664

3 жыл бұрын

Did health insurance factor into your decision at all? Meaning Medicare won't start for you for another 3 years.

@kevinking1391

3 жыл бұрын

I got mine at 62, a few years back. I'm still working full-time. So to me, that's money I can still save. Or use it for projects, upgrades, etc. "It's My Money and I want it now". LOL

@thewizzard3150

3 жыл бұрын

The Irish are thinking the same thing Terry.

@rodbutler8069

3 жыл бұрын

Kevin K great idea!

@Peter-td3yk

3 жыл бұрын

I did a study of 10 years or more of ss cola increases.. Just to get a base line of possible increases for the next 10 years out.. It does go up.. But the guaranteed monies frees up other mones for other things.. So say 12 k a year in ss equates to 300k invested at 4%...so where do you get a guaranteed return like that?? no where.. So ss frees up 300k .. nice..

It’s not about how much you will recover but how much you can live on. We don’t know how long we will live so that choice will be difficult to know.

@quagmirewarrior4202

3 жыл бұрын

Since we don't know how long we might live, that wasn't a factor in my decision. The real question is... can I make it for the rest of my life, regardless of when I might die?

I'll be 62 in April 2022. Not entirely sure if I'm going to wait to get more social security. Though, the more I think about it the more I think I'll take it as soon as I can get it. God bless all you guys. And gals!

@340rps

2 жыл бұрын

I figured mine out and if I waited to 66 instead of 62 It would take to about age 78 to make up what I would get by taking it early. by that age I may not even be alive never mind if I would still have my marbles to be able to do anything. So if I was getting 20 grand a year, that is 80, 000 in my pocket at 66. And remember I'm still getting 20,000 every year still. Which

@wideawaketotruth5301

Жыл бұрын

@@340rps absolutely agree. Thanks for the positive comment!

@michaelspinelli350

Жыл бұрын

You can still work, just have a limit at 62. Then stop when you're ready. The money you collect from 62 is a better value

@wideawaketotruth5301

Жыл бұрын

@@michaelspinelli350 Absolutely agree, started collecting in August.

@krane15

Жыл бұрын

If I go to the doctor and he tells me I have the heart and lungs of a 30 year old, and my parents lived into their late 80s/90s then I might risk it. Otherwise, the sooner I retire, the better.

I'm a senior female 75 single. Took SS at 68. It was 2200 plus a pension. Now at 75 it's 3000 a month. I have a small mtg 489 which includes ins and taxes. I'm glad I waited.

@lw3269

Жыл бұрын

No offense, but why does a 75 year old adult have a mortgage at all?

i dont care what my financial situation is..i'm retiring at 62. tired of working

@search4truth104

3 жыл бұрын

Good luck with that plan

@justglenn1037

3 жыл бұрын

I said that too. I ended up retiring at 50. And somehow I make more now than when I worked. I think many people can do the same if they sit down and crunch the numbers.

@ronm6359

3 жыл бұрын

I retired at 59, 5 years ago. Highly recommended!

@melodymakermark

3 жыл бұрын

I hear you, but think it through first. You might consider UPS part time work if you’re physically capable. Less than 20 hours per week, Teamsters kick ass fully paid health insurance, and fully vested pension plan after five years of employment. It’s a good deal for individuals who don’t need much income but do need great health insurance.

@kauntroap6339

3 жыл бұрын

@@melodymakermark i might think about it. i'll have ss, pension, and 2 retirment from tx and nc

If you're younger (under 50) and watching this, I recommend setting one's lifestyle below one's means. In other words, when everyone's pushing to live a lifestyle based on gross income, set your lifestyle at or below your NET income and budget and SAVE. You don't have to live like a Pauper, just don't fall into the hyper-consuming-robot trap. This will help give you the option to retire at 62 if you choose. I'm 62 and retired at 61. IMHO, expensive homes, toys and expensive activities and hobbies, while enjoyable, don't make you happy. What makes me reasonably happy and content is engaging in activities that give meaning and purpose. For me, interestingly, handling my finances properly is one of those activities!

@billj3494

3 жыл бұрын

This is the way I lived my financial life and retired at 50, I’m now 61 and I’m going to take my Social Security at 62.

@johncarlson6472

3 жыл бұрын

@@billj3494 Nice! Kudos to you. Feels pretty good, doesn't it? I assume you're not working. I'm not married, so I don't have to answer to a Boss (employer), Wife (they can get bossy), parent or anyone else. I never realized just how empowering and liberating it could be living with this level of freedom.

@benberry703

3 жыл бұрын

John Carlson, I am like you. I just retired at age 62, because my goal was to live like I was poor, meaning buying what I needed not what I wanted. Want is just what it says it’s a want not a need. I was able to retire from the Military find a good job, pay off all my debts and save enough to be where I am at.

@stephenverchinski409

3 жыл бұрын

Exactly. Took off early with a bit of a trepidation but so far so good. Still squeezing the pennies. My truck with camper shell has 290,000 on ot and hope to make it to 400,000. Care for what you have and oh do pay off your abode.

@johncarlson6472

3 жыл бұрын

@@benberry703 Nice! living frugally definitely has it's perks. For me, the best perk is less stress. My one luxury (want) is my Dodge Challenger Hemi R/T. Saved up for years to buy her. Have always loved muscle cars since I was a kid. Besides being a physical reminder of years of hard work, I swear, driving that beautiful machine knocks years off my age every time I get behind the wheel...smiles!!

I started to get mine at 62,and never looked back! Because, tomorrow is not promised to you.

I retired at age 62 but I also have a FERS annuity and a TSP account that I currently haven't tapped into. Because I retired at 62 I receive an extra 10% on my annuity. My annuity is actually more than my SS income. Now, I actually bring home as much now as I did working. I currently don't have 10% going into my TSP account. I no longer pay into SS and Medicare. I no longer pay local taxes in two localities. Plus, I no longer have the cost associated with working.

@dingfeldersmurfalot4560

2 жыл бұрын

Yup, there definitely are costs of working. Gas and car repair bills go up. I eat more because I get more hungry. And of course the stress costs on your mind and emotional well-being of a tough job, or frankly virtually any job. And the lost time you will never get back. And the directing of your focus away from your life and loved ones. Most of us pay a very considerable cost by working.

The best time to retire? When you’re ready.

@DannyWalker247

3 жыл бұрын

When you feel like retiring do it and begin drawing out everything you have coming and enjoy it.

@classic287

3 жыл бұрын

@@DannyWalker247 , Amen....

@kathleenphillips7145

3 жыл бұрын

I enjoy working. I’m over 66 and still work to keep my mind sharp.

@CTX50

3 жыл бұрын

The most sensible answer on here

@dannyv2468va2

3 жыл бұрын

Best answer here. I am at 66. I then retire to the Philippines good luck to everyone here!

Getting Diabetes I n 2004 made me getSS at 62..Look at your life, your expenses,..get the money..live. Covid also made me look deeper in reality. A part time job will definitely help. Get a nice car, live your life.

@luiszeledon8118

3 жыл бұрын

I hope it was type two diabetes I had that got rid of it in one month just by changing my diet. All the doctor wanted to do is give me pharmaceuticals screw that

@dcg590

2 жыл бұрын

Car is a waste of money

THANK YOU SO MUCH FOR THIS INFORMATION IM 57 STILL WORKING WITH THE GOOD LORDS BLESSING WANT TO WORK TILL IM 62.

i took mine at 62.My husband was already retired. I am 82 now . Glad i took my SS.at 62. the money is losing its power purchase so fast .I say take it while you can. and enjoy the rest of your days.

@MrEdwardCollins

3 ай бұрын

Interesting that you are now 82 and say you are glad you took it at 62. You've already passed the break-even point. If you had waiting until FRA to take it, you would already have received more money than what you did... and with each monthly check being about 35% larger than what you are receiving now.

I'm 64 and still hanging doors. I'm in good shape, knees hurt but will work till 70 and the get SS then work part time. That's my plan. PS, I'm self imployed and that helps. I go to work when I want in the morning.

@wmp3346

3 жыл бұрын

If your knees change your diet and start making bone broth.

@Peter-td3yk

3 жыл бұрын

The average retirement in america is 62.. Readably available statistical data.. Its an interesting read.. job loss, bodies wear out, accidents , etc even if fit, on average peoples lose your job at 62.. Interesting fact.. I retired at 47..And am sooo glad i did.. Now almost 63 and i dont wanna do what i did then.. Usual aches and pains.. Plus goofing off for 15 years was a blast.. That was before 62.. but i invested (Im considered an avid investor) and my wealth has doubled in that time period.. But to not be a work bitch priceless...

@ronjamhey9851

3 жыл бұрын

@@Peter-td3yk if you're fortunate enough to be able to invest heavily and early. Most people live paycheck to paycheck. What are the statistics for people have any kind of money in the bank let alone $10,000 in a retirement account? Very low

@seedscience6891

3 жыл бұрын

Collect unemployment and food stamps for the maximum period prior to filing

@kathleenkrein4863

3 жыл бұрын

@@wmp3346 glucosamine chondroitin cream rubbed on knees or other hurting areas is so verry helpful. I get mine from Purity Products. Hope this info helps you. Also, nightshade plants like eggplant, tomatoes, potatoes all have a chemical called solamine which excentuates joint pain. Omega-3 foods like sardines or a chia seed breakfast pudding are helpful in relieving my joint pain. Here is recipe for chia seed breakfast pudding.... 1/2 cup chia seed (Costco, Target, Walmart, grocery stores). 2 cups milk ( I use either coconut milk or almond/unsweetened vanilla). Stir in liquid stevia or granulated monk fruit to satisfy your taste & these will not spike your blood sugar levels), but if you want, you can add a little honey, maple syrup, or agave syrup to taste. Stir this up with fork or wisk to keep clumps from forming & stir 10 minutes later, then stir again another 10 minutes later after that. Soak in refridgerator overnight. Serve in bowl & add cinnamon, berries of your choice. Use as breakfast, snack, or dessert. Amount in recipe will make 3 or 4 servings especially when nuts like walnuts or chopped almonds are added as a topping. Enjoy, & my best to you.

My dad was advised to collect early he did then died like 2 or 3 yrs later ,so God who made heaven an earth knows are time ,seriously pray to him an ask him what to do he will impress in you what to do

@quagmirewarrior4202

3 жыл бұрын

I know of a guy that retired where I used to work, and on that day, he died shortly after punching out on the time clock, before he left the building.

@Thebowzer221

2 жыл бұрын

Pray for what you want. Work for what you need.

@richstafford1245

2 жыл бұрын

Old school philosophy was always to wait. New school says take it early. You basically have to live past eighty to lose the gamble of taking it early.. I have lost count how many people I have seen finally take SSI after waiting for a few hundred extra a month only to drop dead. I know zero examples that took their benefit early and are now destitute. Too many things can happen waiting. The house wants you to wait, believe that as you ponder your SSI wager….

@bigk3381

2 жыл бұрын

@@richstafford1245 ...I agree 100%.! Taking it at 62... don't spend it until after 66... and you're right 100%... you'll have to be over 75-80 years old before you ever break even for waiting

@thyslop1737

2 жыл бұрын

@@richstafford1245 Am in a quandry over it. Ten years ago I asked my neighbor up the street who was retired at the time when he took it. He said 62, then he said you know how many people I know who did not make it to 62?

My 60th is this year. I will claim my SS ASAP. Chomping at the BIT on this!!

I’ll be 71 this year and my wife will be 63 - how should we claim our Social Security benefits?

@stricklandpilman2123

2 жыл бұрын

I'm glad that I took my spousal benefits early last Fall and I'm not at FRA. I'm getting almost $1700 a month. I have no regrets. With the state of Social Security, who knows when it will be depleted and from what they're saying, it could be within the next 10 years. I'm getting what my husband deserved. I chose to take it, invest it in the stock market and not touch it. I'll make more on my investments than I would have had I waited. I talked in depth with a Social Security advisor for years and this seems to be a route that is perfect for me.

@hollandhoff975

2 жыл бұрын

As soon as possible. Lol. I claimed mine at 62 yrs, old. SS will be out of money by around 2037 pundits say. It could be even earlier than that if the Government does not finally address the problems with funding SS. Best of luck. KL

@berwickperu7683

2 жыл бұрын

I’m 60 years old looking to diversify part of my savings say $250k into real estate but I hear it is not a good time to invest in Real estate. Can i get any idea on other options?

@kellyhoang1483

2 жыл бұрын

@@berwickperu7683 My portfolio grew by 1,000% within 9 months. Couldn’t have put it better myself. Last year a colleague introduced me to a financial consultant Jennifer Elizabeth Boland who has been helping me find investments that have significant growth potential. She invested my money in reputable companies which their stocks must always rise after any dip.

@berwickperu7683

2 жыл бұрын

@@kellyhoang1483 Thanks for the recommendation, she must be very good at what she does, her name is the first thing that pops up on the browser. She seems really solid and i have sent her a mail already hopefully she replies soon enough.

Never gamble with money that is associated with life. If a kid can play a professional sport and get paid right out of high school there is noway I would tell that kid to play in college he/she may get injured and never have that opportunity again. So the way I look at it if your blessed to be alive at 62 years old take it!!

@davido3026

3 жыл бұрын

Kobe Bryant did not have any of these , nor did he needed the other; and ended up with 600 million … for somebody else to enjoy!!!!

turning 62 this november will take then along with my union pension can’t wait. hope to God i last that long.

@thommysides4616

3 жыл бұрын

Lucky dog! lol

@Hbd2002

3 жыл бұрын

What about health insurance? That's why I decided not to retire at 62. My Dad died at 62 and Moms still living though in poor health at 86 so it's a gamble either way for me

I'm retiring in May, I'll be 62. I've had a quintuple bypass and a stroke with in the last 3 years. My only sibling passed 12 years ago with a massive heart attack. Both my parents passed away with in the last 5 years, i inherited everything. Between my 401 and inheritance i have about 600,000 dollars. Plus, I want to work parttime, just not holidays and weekends. So, I definitely want to enjoy whatever time I have left. Friends tell me I should have gone on disability after my bypass. I didn't know I could. This is all new to me. I do appreciate this video. Thank you very much. Good luck to everyone.

@slimdude2011

Жыл бұрын

Considering your health issues, you still should be eligible for SSI, which is disability. SSI does not interfere with your regular Social Security benefits, that you've already worked for and are entitled to.

@johnbentley645

Жыл бұрын

@@slimdude2011 How can i get disability? My surgery was 2 years ago. i only have 2 more months before i retire.

I was told by Social Security I was not going to receive any benefits because I work for City government and the windfall provision, reduced my benefits to zero . When I turn 70 years old, I decided to go online and apply anyway and I actually am now receiving a small benefit. I paid into Social Security system for 14 years before taking the city job

I'm not counting on social security, I have saved and invested, and own a house that is paid off. I still work at age 63. Taking a Social Security check will just be a supplement, to what my retirement investments provide. My advice is start saving and investing early, and buy a house as early as you can so you don't pay rent, but instead pay a mortgage payment that buys you a house. Yes you have to live on less, but you learn to do it and in the end, you have security.

@samualray

3 жыл бұрын

Its helpful having your home paid off. I too never counted on ss to be my main income. I cut back working on my 34 year main job and found retirement is not all that cracked up to be. I now work at a job I like and love . Company has payroll deductions , which includes stock program, 401k , hsa family max, health insurance and travel benefits! The main point is i like what I’m doing and feel blessed to do it in my late fifties. I always kid with wife telling her she’s the smart one though for retiring at 49. Wants she saw we had enough money invested she gave up being a charge nurse and never looked back!

@arizjones

3 жыл бұрын

@@samualray Many people don't like retirement when they do it. Working gives them activity and purpose. My father retired 4 times. But he just kept starting new businesses. He could not sit still. He was a surveyor for the power company, and electrical engineer, and computer designer (worked for NASA), a restaurant owner, a tour guide, and owned an art supply store and art studio. Retirement was not in his makeup.

@floralee4699

3 жыл бұрын

Wow. Lucky you.

@samualray

3 жыл бұрын

Not luck, planning

@samualray

3 жыл бұрын

@@arizjones I agree, i tried retirement for about two years. I like working and investing. Financial peace. My first career is on its 34th year but is being replaced with a cool job. Doesn’t pay as well but loving it. To each is own!

For me when I retire at 55. I have a Supplemental Social Security. In my case its 90% of what I should be getting when I turn 62. Im going back to my home country to retire. My Social security and pension is enough to lived comfortably better than staying and working in the US. I can sell my house in Seattle that is fully paid and I won't even have to dip into my Savings and Retirement funds. These days everything is unpredictable its better to retire early and enjoy life for good. No more deadlines, early morning commutes and not enough sleep.

@freedomstar3814

3 жыл бұрын

Now that's what I call a great plan :)

@user-qr8ki8ue4i

2 жыл бұрын

@@freedomstar3814 It's what drives a lot of people to jump north of the border. Then they take the money and run home. America has a great system that works well for some that have the option to retire back home.

Everybody seems to forget about quality of life when you're 62 and when your 82. I'd certainly rather enjoy 62 to 67 and be a little short on money at 80 if for some miracle I make it.

I am in excellent health and started at 62. Loving every minute of retirement. You never know when your time is up. I've seen people in great health go at 60. I didn't wait. Too much fun to be had.

@krane15

Жыл бұрын

I see it as having the freedom from work in your golden years, but while you can still enjoy life. What good is the higher amount if you're too broken down to leave the house?

@18181825

5 ай бұрын

I agree

@18181825

5 ай бұрын

I agree

Actually, the best time to claim is several years before dementia and other health barriers set in that would otherwise rob you of a healthy retirement

@billj3494

3 жыл бұрын

You’re right, at 61 years old I’m already starting to see memory failure.

@jaegertiger384

3 жыл бұрын

So if you're Joe Biden, you would have already activated your Soc Sec benefits.

@billj3494

3 жыл бұрын

@@jaegertiger384 I still remember how to say fuck off

@jaegertiger384

3 жыл бұрын

@@billj3494 Wow... must have hit a nerve.

@billj3494

3 жыл бұрын

@@jaegertiger384 You had it coming. Don’t be a troll.

Health insurance is what will keep people from retiring at 62.

@Stacie45

3 жыл бұрын

Absolutely. I am 59 and I would seriously think about punching out now except that I would have to self-insure for the next 6 years. It is not the only reason I want to let it ride for a few more years but probably number 1 for me.

@noragrets5553

3 жыл бұрын

That’s true.

@lynndudek4441

3 жыл бұрын

How true.

@billj3494

3 жыл бұрын

Medicare for all.

@noragrets5553

3 жыл бұрын

@@billj3494 living wage too, I don’t like to get up and go to work

I stopped working at 60 1/2 and started collecting at 62. It was a horrible job but didn’t want to start working at a new job. I don’t miss it and never looked back.

In the case of early retirement, I don't think that the reason they are claiming benefits at later years has to do with people realizing the benefits of late retirement. It has to do more with the cost of living. People can't afford to retire any more.

@dingfeldersmurfalot4560

2 жыл бұрын

Yup. Not with the price of a can of beans tripling in a couple of years, gas going way up, and rents increasing 20 to 40% per year.

@madmanmechanic8847

Жыл бұрын

No shit thanks to the nut ball in office and chump leaving us after he won the election gotta love $6.00 gallon for diesel

I turned 62 in Jan 2021. I applied for social security and now get a nice monthly payment and I have no regrets. I also get a government pension. Now I'm looking into ways of investing my social security money to have it working for me.

@Redtopper02

Жыл бұрын

You are trying to invest the SS $$$? If you hadn't filed at 62, your SS payment would have grown 8% per year up to age 70. 8% guaranteed with no market risk. This is an annuity payment with no market risk. The stock market returns with dividends returns about 8-9% but that is over a long period of time. Should not have filed early.

There has been some funds taken out of the social security fund in order to pay for other govt programs. They should pay that back. No one ever talks about that.

@imanisakkour8405

3 жыл бұрын

EXACTLY

@stevesd4375

3 жыл бұрын

@@imanisakkour8405 d3 dc dc 8899pppp

@crazydee1955

3 жыл бұрын

For damn sure.

@mjack59

3 жыл бұрын

With all our Money they have sent overseas they could have funded the SS for many years to come.

@davido3026

3 жыл бұрын

The government abuses the system which nobody defends!!!

Took mine at 62 already collecting. Pension from 20 year of Military then retired from second career after 19 years always do what's best for you I didn't hate my job but after 45 years of working had to go.

He's correct about mistakes in your job history. My husband was missing one year of employment on the Social Security statement. He had to ask the employer to provide proof that he worked and contributed to Social Security for the year missing. It took a couple of visits to the social security office to fix this issue. :(

Its actually best to SPLIT the difference.... I retired at 64.5... a little more money, but only gave up 2.5 years to be more comfortable.😎

@ws775

3 жыл бұрын

Great point! If not right at 62, why not 63 or 64 etc..... it doesn't have to be 62 or 67. Even waiting a year increases your benefit amount.

My dad worked 70 hours a week until 72. Quit because of failing health and then died. He lived for his job and I don’t think he regretted working until death. It defined him.

@edb3877

3 жыл бұрын

That's great for those who live to work, not so great for those who work to live. The good part of this is that he made a choice that was best for himself. I, on the other hand, retired in 2004 at age 55 and am loving retired life. Others might not but it sure works well for some of us.

@lauralampe1664

3 жыл бұрын

@@edb3877 I also work to live. If I could retire tomorrow and just work 25 hours a week, I would do it in a heart beat. My plan is to retire in Summer 2025, right before I qualify for Medicare.

@tamiz8895

2 жыл бұрын

Sounds like a man who lived life on his own terms, so a good life.

@charleslozada5829

2 жыл бұрын

His tombstone refined him!

@madmanmechanic8847

Жыл бұрын

What did he do for a living too bad he never got out and enjoyed life. I have been in huge rut for years trying to pull out of it and move That is so sad about your Dad

I started collecting mines on my F.R.A 66 y/o plus 4 months in 2022... And still working F/T, don't plan on stopping, until I am not fully able

I'm 65 and took early retirement and haven't regretted it one bit anyone who says you have to have millions to live after retirement is just plain lying to you if you live within your means you can make it I do not owe nothing everything is paid for and I'm doing fine

I started at 62, I didn't need the payments so I invested it and made a bunch of money. Also, am having a lot of wonderful years of (quality of life) adventures instead of being behind a desk.

I took Social Security at 62. I saw a study that showed those filing at full term, which use to be 66, could not catch up financially to me until 80 or 82. This was determined for a single person like myself born in 1953. Every situation is different. This worked for me.

@johne6081

2 жыл бұрын

"Every situation is different" sums it up. I waited until age 70, based on personal health, family history, financial security and liquidity, and the fact I well keep working (half to 3/4 time) until 75 or 80 in an encore career I love.

@royharper2003

2 жыл бұрын

@@johne6081 are you still alive?

@johne6081

2 жыл бұрын

@@royharper2003 Debatable. :)

@squirrelcovers6340

Жыл бұрын

It's simple math......file at 62

@krane15

Жыл бұрын

That sounds like me. I'm in that "nothing special" bracket so there's just advantages for me to wait.

Another factor is how much a year of freedom at 62 vs 70 is worth. If your healthy at 62, you can have a great time, enjoy your relationship, travel and experience life. At 70, you will have slowed down a lot and may not be up to the travel and experiences you have been waiting your whole life to do. The assisted living homes are full of rich people that can't do much for themselves.

@thyslop1737

2 жыл бұрын

Good point. So many factors to way. Health huge issue, if you even make it to 62. Know of many that made it to 62. Know in my life, family, friends at a minimum 20 who never made it to 62.

I took mine at 62 after seeing close people pass before 60. 13 years later I didn't get the coronary , stroke, gi track , mental problems I was headed for. There's more to it than additional dollars that don't go as far

There are so many people other than retirees drawing social security it is mind boggling. I have clients receiving social security benefits. The back pay for people who have never worked a day in their lives is unimaginable. Social security needs major reforms. Prudency is needed in a big way.

@ronm6359

3 жыл бұрын

I agree, but the Democrats won’t let that happen, too many people like to vote for Santa Claus

@WestCoastDP

3 жыл бұрын

@@ronm6359 LOL, Any side wanting to Cut S.S. will never be elected. My paycheck has been deducted SS for 50 years. I Want some of my money back. Also, if you didn't put in any S.S, you won't be able to receive any S.S. Maybe your thinking about Medicaid

@ronm6359

3 жыл бұрын

@@WestCoastDP I’ve put plenty of money in SS for 40 years. Read the required (by law) the fiscal reports from the SS trustees, if you aren’t mad and seriously frightened, you either didn’t read it or didn’t understand it. Either way I calculated the amount of money I would have if I took those SS taxes and put them into conservative investments. Answer: 3x what SS will pay me. Surprised?

@WestCoastDP

3 жыл бұрын

@@ronm6359 No surprise, I would have also gotten a lot more investing my S.S. tax. But thankfully we used IRA's to the max and have about 400% or more returns through the years. S.S. was suppose to be a supplement to retirement, not full living expenses,,, but I know many older people who would be on the streets without their S. S. Overall, S.S. helps,, though not perfect.

@ws775

3 жыл бұрын

Your thinking of SSI, not ss.

Took it at 62 and retired to Mexico. Living in a small, comfortable, furnished apt with cable and WI-FI included, off street parking and walking distance to the beach, $275 a month. Total living expenses including utilities, groceries and gasoline, about $500 USD a month. Everything is half the price in the U.S. The weather is much like southern California and the people are nicer. Viva Mexico! 🇺🇸🇲🇽👍✌ P.S. if I waited until 67 SS would only be about $100 -$ 125 ( for me) more a month. Not worth the wait. 😉

@acts29today

3 жыл бұрын

Right on, I did the same only living in Thailand great weather cheap living friendly people but don’t tell the rest of them.

@geoben1810

3 жыл бұрын

@girlinjax Because a vast majority can't afford even that. And many are living in states where drug cartels have a lot of control over the local population. Particularly in South American countries.

@geoben1810

3 жыл бұрын

@@acts29today Thailand is tempting, I've thought about it 👍😉

@thiaco6203

3 жыл бұрын

What about the humidity in Thailand? How is it?

@thiaco6203

3 жыл бұрын

I will be 57.5 with a full pension and RETIRED!!! SO EXCITED after ALL these super STRESSFUL years! How is Thailand for cute and youthful single ladies? Is it safe or do ya have to worrry about thieves? How about Mexico? Any areas to AVOID ?

I filed at 62 when my husband passed away. I had no choice. I also went to work again to get enough to live.

This is a no-brainer for me. I had cancer in 2020, went in and had chemo, kicked cancer in the ass, and started collecting social security at 63 .Live life like it was your last day.don't wait! get it at 62.

Having no debt convinced me to retire at 62. Can easily find part time work if I want

@jaegertiger384

3 жыл бұрын

And for how long does your health stay good ??? $1K of more money / month makes a big difference in your latter years. I've seen it first-hand.

@Mexicobeanpole

3 жыл бұрын

@@jaegertiger384 All the more reason to retire early and enjoy what healthy years you have left.

@rodger7029

3 жыл бұрын

@@jaegertiger384 I have what’s called insurance

@rebelsixtynine1

3 жыл бұрын

That's my plan.no debt and 11 months to go.

@FirewindII

3 жыл бұрын

@@rebelsixtynine1 Way cool!

I'm retiring as soon as I get my car and truck paid off. My house is paid off already, so all I will have to pay is utilities, ins. and food.

@SmittyAZ

3 жыл бұрын

Do you live in a high property tax state that offers no relief for Seniors?

Thanks for all the valuable information and the visual charts. Much appreciated!

Thank You so much for explaining how to maximize your SS by utilizing both survivor benefits first and working, and later your own benefits, and at the exact time I needed this important information.

I am a Financial Broker ..30 Years... Excellent Educational and Impressive Format. I have shared this data with clients for multiple years... You are so accurate ... I encourage everyone to purchase your material and also work with their tax person. Thank you. To all the comments I have read... I must smile .. because your comments are so real... living life reality is the bottom line... enjoy while you can 🌟🦋🤗🤩... Good luck everyone 🌟🏆🌟👏👏👏

@FinancialFastLane

3 жыл бұрын

Wow, thank you for the complement!!

@goldenblue3865

3 жыл бұрын

My Pleasure 👏👏👏

@philipkrolikowski4248

Жыл бұрын

dont hire a financial advisor, their only interest is the money you have to pay them. if your " money stupid " and cant balance a checkbook then seek out a GOOD friend to help you

I retired at 62....3 years ago with an optimized plan. I’m glad I did. My advice? Create an optimize retirement plan and retire as soon as you can. You won’t regret it.

@m1cajah

3 жыл бұрын

What do you mean “optimized plan”?

@vdsilva6806

3 жыл бұрын

@@m1cajah live a simple life and save money to invest in rental property, stocks, bonds. Give to those in need and God blesses you. I did this raising a family of 4 and never making $100,000 a year. All things are possible with Christ.

@johndough23

3 жыл бұрын

@@m1cajah switch from selling skunk weed to RX.

@evacrooks5339

2 жыл бұрын

@@m1cajah 00.

Thank you! I don’t know how I stumbled on your channel but it’s timely! I have a long awaited phone call with SSA tomorrow morning and I was planning to start drawing immediately. After listening to your counsel I decided to order your strategy report and then make an educated decision. I appreciate this!

This is the BEST video I've seen about drawing Social Security. Very well explained.

I am 61 thinking about retirement. My statement showed how much money I've made over the years. Should be a millionaire. The government take yo money then tell you at 62 you ain't got much coming. Well maybe do like the person said. Take what you can get and run with it. The older you get it's hard on you yo body don't operate the same. I will take what I can get at 62 and work part-time it it comes to it but right now no work no money. Retire take that and make the best of it. God will see you through. Our government showed what we mean to them when the pandemic hit

@puppyluv3859

2 жыл бұрын

🎯🎯 correct when you add up the money that you made towards your retirement by working they have stolen so much of your damn money you do not get the money you put in its BS now they want to cater saying that the children and the parents working with children have the greatest needs so much is on them they are not thinking about the seniors whatsoever in these plans to try to make something happen for us as seniors have already put money in to help people along the way now can we get what we need $200 extra a month forever it should be

Due to the job market I am taking early SS in another 3 years. It has been tough finding full-time employment at this point in my life.

I think you have to get to at lease 65 so you can also get Medicare because health insurance can get very expensive.

I took mine early. My Neighbor did not. He was shooting for 70. Died at the age of 66. the family lost everything and was forced to leave the State of California. I see a lot of that happening. In my case I'm glad I retired young.

Take it early because you still have health and energy to make use of it.

@rangerdoc1029

3 жыл бұрын

THIS! This so much.

@fowlkeskm

3 жыл бұрын

Amen brother!!!

@davido3026

3 жыл бұрын

that can change overnight!!!!knock on wood!!!

@malvascurry8867

3 жыл бұрын

MOST PEOPLES DON'T LIVE LONG WITHOUT A LOT OF HEALTH PROBLEMS...I AGREE WHILE U ARE ABLE 2 TRAVEL & MOVE AROUND..THIS WILL BENEFIT THOSE THAT WELL OFF, RICH OR THE FAMOUS ..THOSE THAT ARE BROKE KEEP ON WORKING BECAUSE BILLS IS ALL U HAVE..ONCE A MONTH CHECK IS REALLY HARD 4 MANY..

@sulingfloresca4120

3 жыл бұрын

I agree ...♥️🙏

I really like how you present your video. you have good charts, and you were easy to listen to. Oh and the best thing is, you didn’t ask to like or subscribe. I get sick of everybody else on KZread doing that. Thanks

@petemanning3012

3 жыл бұрын

I agree....excellent video

@yvonnemfuller

3 жыл бұрын

The You tubers get paid by their viewers,

@t.r.9134

Жыл бұрын

I was forced to Retire Early due to three Herniated Disc in Neck in 2004. Failed Neck Surgery in 2005. SSDI in 2006 and Medicare given to Me at about 52 years old. Obtain Bilateral CTS in 2007. Failed Surgery. SSDI Turned into Full Retirement at 66. I do not Remember Even Applying for Social Security. But I get a Low Amount. The Neurosurgeon whom did my Surgery Request that I Apply. He did not fix my Problem. It Appear that I Should Receive More than I Get.

Sadly, it will probably be the nursing home getting all that extra money if you wait.

@mavamQ

2 жыл бұрын

Even more sad, if you don't wait, I'll be paying for your nursing home!

Nice easy to understand guidance - answers the “what?” “so what?” and “now what?” questions. Live long and prosper.

I retired at 50 in 2017 with full benefits + pension from my state government job. I will collect social security once I turn 62 since I also did work in the private sector over 10 years plus prior of getting hired by the state. The way I see you must enjoy your benefits while you can.

@davido3026

3 жыл бұрын

Papa Sam!!, American taxpayers pay your salary and now you make fun of them

@jml9550

2 жыл бұрын

I don’t think he is make fun of us taxpayer. He worked a state government job that may be lower than private sector. A lot of people choose not to work government jobs because it pays less, I know I did.

Thanks. Great video. I work to live so I’m taking at 63. Just spending money.

I made a decision during Covid , worked like a dog all through COVID. I retired early and waited till I turned 62 and started collecting, I also sold my company early and was receiving payments out for the next ten years. Plus my pension kicked in at 62. I still have my 401k and annuity I haven’t elven touched. I don’t need it right now. I suppose I can start taking that in 10 years. I’m totally debt free. But I do have to pay for my health insurance for two more which is a considerable amount every month. But I don’t care I love being retired and having monthly money deposited in my account every month. I don’t have to worry.

I was injured at work and have permanent disability I had to apply at 36 years old and was approved in 2 months surprisingly from what I've heard I was a really lucky person

File as soon as you can and never look back. Who knows how long you will live. Who knows how long social security will last.

@brianarbenz7206

3 жыл бұрын

You realize you lose 25 percent of your Social Security for the rest of your life if you file at 62, and 15 percent if you file, I believe, at 64. That's a lot of your earned money you'll never get back. And if at 70, 75 or whenever you are facing hard times, you'll wish you had that extra 25 percent.

@pameladiez4933

3 жыл бұрын

Yes that is true,so what happens for all the people living under ss,and they decide to end ss.then what? Good way of thinking.so use your time wisely to figure a plan,and be in the front of the situation.make a plan.dont put your eggs in one basket.think about it.👍

@earleneslay7977

2 жыл бұрын

@@brianarbenz7206 This is true if you live to be 70-75 plus years.

As a senior you never know what can happen health-wise. I pulled mine at 62 and am now 71. I have collected well over 110k the past years that I could of lost if I waited. I see me as biding time now at 71 so it worked for me. Also I had the advantage of a hubby 9 yrs younger that is only 62 now and still working :)

@billpasaki4769

2 жыл бұрын

Your benefit would be much higher if you had waited. Do not retire at 62.

@terrytesterman1689

2 жыл бұрын

@@billpasaki4769 Wrong. Most people would never live long enough to compensate them for waiting. If you do your higher benefit is probably going to be sent to keeping you in a nursing home where your check is paid to them.

@billpasaki4769

2 жыл бұрын

@@terrytesterman1689 And your spouse? Do you care about him or her receiving a higher benefit? Terry it is not always about you.

@terrytesterman1689

2 жыл бұрын

@@billpasaki4769 Then you should know that Social Security caps and your surviving spouse will only get a small portion of the spouses check. Money ain't everything time to ones self and family is precious and will be missed when you're gone. I don't know your expenses but you need to at least have no mortgage at that age. I means a lot. Also if you had a 401k or IRA that's double great. SS depends on corrupt politicians to keep it funded. Politicians that burn taxpayer money for their bases pet and corrupt projects. Our younger generation will have it tougher and tougher as they try to pay the older generations tax burden. Remember your vote counts against a corrupt government hellbent on destroying the economy and freedom we have enjoyed thru the years.

@billpasaki4769

2 жыл бұрын

@@terrytesterman1689 Terry you seem like a very angry man.

I filed at 63, whoa I love it ! I hang out with my friends and I sleep late when I want 😁👍 ok I'm so Happy !