UnThreaded | Threaded | Whole Thread (110) | Ignore Thread Prev | Next
Author: TMFHockeypop Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75642  
Subject: Re: What age to take SS payments? Date: 12/9/2013 11:23 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 6
Not to argue too strenuously with your excellent post. The decision regarding SS really depends on your circumstance, as has been discussed a lot in this thread.

I'd submit that the difference is going to be irrelevant since the extra $300 ($500, whatever) a month isn't going to buy you anything you won't already have and don't already not need at that advanced age,
My 88 year old MIL, who worked, took care of an invalid son and got scr*wed in a divorce took early retirement and very much enjoyed the money. She has no additional savings that weren't spent quickly. She IS active but when she needs money for tires for the car (we gave her) we need to gift them or she drives on bad tires.

A road trip to see all her relatives -- her pride wants to pay, but we need to gift it. She has blessed our home staying with us for over 20 years, but her ability to spend would have been materially reduced had we not helped. I'm not sure an extra $300-$500 a month would have changed the necessity and joy to have her live with us, but for this independent, active woman as a means of savings at 62 (when she could have worked), it does make a big difference.

At the other end my decision to delay SS may result in your father's circumstance personally, but at the least I should be providing more using Intercst's "guaranteed annuity" for my younger wife for many reasons discussed. She has a Grandmother who lived to 101 (in her own apartment until about 98). I plan for funds to last until age 102 for DW (conservatively) or roughly 42 more years. The reality is that I/we neither delayed interesting trips before retirement (often around business trips and DW continues working), nor am I delaying them now, although I will admit that our ability to "want less" has been built up over decades.

You made the right decision for you to take SS at 62, and I absolutely agree that if your father missed opportunities to live an active life because he delayed, he perhaps did not.

I just wanted to provided another anecdotal example for the other side.

RYR Home Fool
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (110) | Ignore Thread Prev | Next


The Retire Early Home Page
Discussion on accelerating retirement day.
Post of the Day:

Apple and Ninety Years Ago
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 "#1 Media Company to Work For" (BusinessInsider 2011)! 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.