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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19378  
Subject: Re: SS questions Date: 8/1/2009 6:28 PM
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0x6a74 writes,

<<<It doesn't make much sense to delay taking SS until age 70 when you can do the Withdrawal of Application strategy.>>>

if you can do the Withdrawal of Application strategy.

four things:
1) you have to be able to bank most of your pre-70 SS
2) have to hope Congress doesn't change the game (IMO, not likely because of (1))
3) have to live well beyond 70

1) If you can afford to delay your Social Security check until age 70, you can afford to take it at age 62, save and invest the benefit, and then pay it back at age 70 for the bigger monthly check while keeping the interest and dividends you've earned over the previous 8 years.

2) Agree.

3) Actually if you're worried about longevity, it makes even more sense to take you Social Security benefit at age 62. Then you can reevaluate your health at age 70 and decide if it makes sense to do the Withdrawal of Application for a bigger check.

If you decide to wait until age 70 to collect and come down with a disease at say age 68 that shortens your lifespan, there no way to go back and reclaim the SS benefits you could have collected from age 62 to 68.

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