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Hi Vincemal:

Sorry for the delay in posting; I have been travelling and haven't hit the boards for a while.

I retired at 61 (semi-retired, actually). I decided I wanted to keep active and have a daily purpose, and I wasn’t quite ready to quit working “cold turkey”. There were also financial reasons. So I am working part time at what I love to do.

I decided I wanted to maintain some income and postpone social security until my FRA which is 66. My primary reason for this is that at 62, my SS benefit would be reduced by 25% over the value I will receive at age 66. My spouse is younger than I am, and her spousal benefit as my survivor will be based upon my benefit. I assume she could outlive me and SS could be a critical factor in her financial well being.

Part of my incentive for delaying SS is a personal belief that at some time in the future, my SS benefit will be reduced, as government entitlement spending faces the harsh reality of 78 million baby boomers all tapping into the mother lode. So my personal financial plans assume that I will at some point actually receive 50% of the benefit that SS currently indicates. I am designing my retirement financial plans around that possibility. Of course, if I receive a larger amount, that will give me a nice bonus!

I have been saving so that I have built a “bridge” to retirement. These savings, with my part time earnings will provide the necessary income without tapping my SS benefit.

I subscribe to the Motley Fool “Rule Your Retirement” service. That has been most helpful.

That said, there are a lot of resources out there, including the social security website. However, retirement is, to me, a dramatic step and leaving the work force, in my case, will probably be a permanent thing. So I wanted all the budgetary, informational help I could get.

Good Luck!

Dar wood
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