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Author: clufool Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75532  
Subject: Re: Social Security $$$ Date: 6/24/2000 8:24 PM
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My husband is 65 this year, will continue to work for about 3 more years & is in 36% tax bracket. Now that he can take SS $s while still working - we question whether he should take the $1000 p.m. from this year; & use balance to reduce debts OR continue as we are and qualify for a higher benefit when he finally retires. Am told for each year he doesn't claim, the benefit will increase by about 6% - but benefit will also increase annually because he's continuing to work past 65. I'm 8yrs his junior so higher benefits might be more beneficial from my viewpoint than his. Also unsure how the SS benefit will be taxed - will it be at 36%? Anyone out there good at juggling the options or is faced with similar issue?


In my opinion take the income even if you don't need it, invest it in a fund like Vanguard's S & P 500 Index fund. In 3 years the income from your accumulation will almost offset the lower income you will receive by starting now, Plus if he should die too soon you will at least have the accumulations. If you don't start the income now and if he were to die 3 years from now all you would get from SS would be the flower fund, $255.

cf
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