No. of Recommendations: 0
Author: cfleisig Date: 11/16/01 5:53 PM Number: 32566
...my question is...should I wait till I'm 66 to start taking my SS payments, and should I invest them somewhere, or should I wait till I'm over 70 1/2 to get the maximum amount or should I forget ever getting SS since the Feds seem to be gutting it now? Or, one other possibility, take the SS payments as soon as 62 and invest them????

My philosophy is take SS as soon as you can. You never know what might happen to you, or when. If you don't need it, by all means, invest it. But I would recommend to be conservative about it. At your stage of life, you don't have time to recover from a fall.

Most people near retirement use a 50/50 or a 60/40 stock/bond mix to reduce portfolio volatility. Some brave ones go to 70/30 or 80/20, but that's too scary for my blood. I like 60/40. If you had had your IRA allocated 60/40 before the crash, you would have been down only about 16% at the worst point.

Russ
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement