Comments on: On Taking Your Social Security Payments Early. http://www.mytwodollars.com/2010/03/09/on-taking-your-social-security-payments-early/ A place to discuss money...for the rest of us. Fri, 10 Feb 2012 05:21:23 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: uberVU - social commentshttp://www.mytwodollars.com/2010/03/09/on-taking-your-social-security-payments-early/#comment-36264 uberVU - social comments Sat, 03 Apr 2010 15:31:32 +0000 http://www.mytwodollars.com/?p=2443#comment-36264 <strong>Social comments and analytics for this post...</strong> This post was mentioned on Twitter by mytwodollars: New blog post: On Taking Your Social Security Payments Early. http://bit.ly/brE3Ht... Social comments and analytics for this post…

This post was mentioned on Twitter by mytwodollars: New blog post: On Taking Your Social Security Payments Early. http://bit.ly/brE3Ht...

]]> By: David/yourfinances101http://www.mytwodollars.com/2010/03/09/on-taking-your-social-security-payments-early/#comment-36032 David/yourfinances101 Wed, 10 Mar 2010 09:45:56 +0000 http://www.mytwodollars.com/?p=2443#comment-36032 I had no idea that you could even do this!!!! Makes me want to retire now and start taking it! (LOL) A very informative post I had no idea that you could even do this!!!!

Makes me want to retire now and start taking it! (LOL)

A very informative post

]]> By: Davidhttp://www.mytwodollars.com/2010/03/09/on-taking-your-social-security-payments-early/#comment-36030 David Tue, 09 Mar 2010 22:14:08 +0000 http://www.mytwodollars.com/?p=2443#comment-36030 Got it, good to know. She's all set though - she's happy with her scenario! Got it, good to know. She’s all set though – she’s happy with her scenario!

]]> By: Daddy Paulhttp://www.mytwodollars.com/2010/03/09/on-taking-your-social-security-payments-early/#comment-36029 Daddy Paul Tue, 09 Mar 2010 21:54:55 +0000 http://www.mytwodollars.com/?p=2443#comment-36029 Good read. When you get close to retirement this is something to consider. I understand you can pay back what you were paid and then get your SS payments at the 70 year of retirement rate. Good read. When you get close to retirement this is something to consider. I understand you can pay back what you were paid and then get your SS payments at the 70 year of retirement rate.

]]> By: Evanhttp://www.mytwodollars.com/2010/03/09/on-taking-your-social-security-payments-early/#comment-36028 Evan Tue, 09 Mar 2010 21:51:31 +0000 http://www.mytwodollars.com/?p=2443#comment-36028 It is never too late! You get a re-do when it comes to SS: http://www.myjourneytomillions.com/articles/paying-back-social-security-to-increase-future-payments/ It is never too late! You get a re-do when it comes to SS:

http://www.myjourneytomillions.com/articles/paying-back-social-security-to-increase-future-payments/

]]> By: Davidhttp://www.mytwodollars.com/2010/03/09/on-taking-your-social-security-payments-early/#comment-36027 David Tue, 09 Mar 2010 21:17:31 +0000 http://www.mytwodollars.com/?p=2443#comment-36027 Well, it's a little too late as she is already taking them :) Thanks though! Well, it’s a little too late as she is already taking them :) Thanks though!

]]> By: Evanhttp://www.mytwodollars.com/2010/03/09/on-taking-your-social-security-payments-early/#comment-36025 Evan Tue, 09 Mar 2010 19:50:31 +0000 http://www.mytwodollars.com/?p=2443#comment-36025 David, There is a GREAT(FREE) calculator over at blackrock. You have to be registered, I'd be happy to run the tool if you have an interest. David,

There is a GREAT(FREE) calculator over at blackrock. You have to be registered, I’d be happy to run the tool if you have an interest.

]]> By: Davidhttp://www.mytwodollars.com/2010/03/09/on-taking-your-social-security-payments-early/#comment-36024 David Tue, 09 Mar 2010 16:16:34 +0000 http://www.mytwodollars.com/?p=2443#comment-36024 Clothdragon - My mom doesnt and hasnt worked. Clothdragon – My mom doesnt and hasnt worked.

]]> By: Clothdragonhttp://www.mytwodollars.com/2010/03/09/on-taking-your-social-security-payments-early/#comment-36023 Clothdragon Tue, 09 Mar 2010 16:08:08 +0000 http://www.mytwodollars.com/?p=2443#comment-36023 I don't think this decision can be made with only these two bits of knowledge. I think the big question is whether she can live on $1875 per month or whether there is more retirement income elsewhere to sustain her way of life. If she lives five up front stretching her every dollar when she could have worked a little longer and not had to worry about money for a few more years, wouldn't that be better? If she needed that extra time to pay off her house or her car? Or if she LOVED her job. If she was going to miss her co-workers and having something scheduled to do every day. Boiling this decision down to the maximum amount you can collect from the government doesn't make any sense at all to me. I don’t think this decision can be made with only these two bits of knowledge. I think the big question is whether she can live on $1875 per month or whether there is more retirement income elsewhere to sustain her way of life. If she lives five up front stretching her every dollar when she could have worked a little longer and not had to worry about money for a few more years, wouldn’t that be better? If she needed that extra time to pay off her house or her car? Or if she LOVED her job. If she was going to miss her co-workers and having something scheduled to do every day.

Boiling this decision down to the maximum amount you can collect from the government doesn’t make any sense at all to me.

]]> By: Hazzardhttp://www.mytwodollars.com/2010/03/09/on-taking-your-social-security-payments-early/#comment-36022 Hazzard Tue, 09 Mar 2010 16:03:23 +0000 http://www.mytwodollars.com/?p=2443#comment-36022 My mom also started taking her social security at age 65. It was the right move for her because it enabled her to stop working and she is now enjoying a lot of extra time with her grandkids. It really came down to whether she'd be able to meet her financial obligations with the social security income. In her case, she is able to cover all her bills (her house is paid off), and her interest income from 401k's etc will help cover her hobby expenses. She won't be traveling the world, but frankly she never planned to or made financial decisions to give herself that kind of retirement. Anyway, glad to hear your mom is taking it now. Sounds like it was definitely the right choice! Hazzard My mom also started taking her social security at age 65. It was the right move for her because it enabled her to stop working and she is now enjoying a lot of extra time with her grandkids. It really came down to whether she’d be able to meet her financial obligations with the social security income. In her case, she is able to cover all her bills (her house is paid off), and her interest income from 401k’s etc will help cover her hobby expenses. She won’t be traveling the world, but frankly she never planned to or made financial decisions to give herself that kind of retirement.

Anyway, glad to hear your mom is taking it now. Sounds like it was definitely the right choice!
Hazzard

]]>