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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.
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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.
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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.
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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?
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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
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