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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 75379  
Subject: Re: What age to take SS payments? Date: 12/9/2013 11:23 AM
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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.

Bob
RYR Home Fool
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