Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev Thread | Next Thread
Author: Gerdav Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19483  
Subject: TAKE SOCIAL SECURITY AT 62 Date: 12/23/1999 9:03 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
I am trying to post a question. Is it FOOLISH to apply for Social Security at 62 and invest the money monthly.
I do not need SS money to live on.
Print the post Back To Top
Author: DHR7022 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1081 of 19483
Subject: Re: TAKE SOCIAL SECURITY AT 62 Date: 12/23/1999 11:09 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Write a spread sheet showing the value of your investments. Add 8% growth to your investments each year. I wrote 3 sheets using 8%, 10% & 12%. Figure deducting the dollars you need to live comortably and figure 4% inflation each year. This is high but safe. Deduct the dollars needed and see how long your money will last. Deduct the amount of Social Security dollars you will receive from you withdrawl and see how much longer you can live. It is surprising how much faster the principal grows with a lesser amount deducted.

Print the post Back To Top
Author: GMann7 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1088 of 19483
Subject: Re: TAKE SOCIAL SECURITY AT 62 Date: 12/24/1999 10:43 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Break even point is age 77 or thereabouts. If you reinvest your SS for the next 15 years you will be way ahead of waiting until 65 to collect.

Print the post Back To Top
Author: TwoCybers Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1090 of 19483
Subject: Re: TAKE SOCIAL SECURITY AT 62 Date: 12/24/1999 1:06 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Gmann7 -- I don't question your statement, but I would like to know what rate of return you assume for the SS investment. Clearly if the rate of return is increased, then the time frame to "break even" decreases. Also have you assumed any increase (cost of living type) in the Social Security payments?

Print the post Back To Top
Author: rvbradish Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1111 of 19483
Subject: Re: TAKE SOCIAL SECURITY AT 62 Date: 12/25/1999 10:36 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Hi, Gerday:

"I do not need SS money to live on."

I thought it was (and still do). This is exactly what I did. It worked well.

Ray

Print the post Back To Top
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev Thread | Next Thread
Advertisement