For those that want to wait on the SS until full retirement age, I would assume that you have enough investments to carry you through to that age comfortably?
Why would you want to let the government sit on your money for 10 years? If you have enough income to retire on, why wouldn't a person take the draw at 62, and put it in the bank or CD's for a slight guaranteed interest rate to grow your money vs letting the gubberment waste it and have it possibly go insolvent before you try to take it?
CD's are up to 4.5% or higher currently. I danged sure wouldn't invest it in the stock market with this administration in office, but there are ways to grow the nest egg even if slightly.
When you feel you need to tap into it, just schedule a draw from your savings on a monthly basis to supplement your retirement income and the SS payments still coming in equal to or above what waiting for SS would bring in.
Here is the big question we had when approaching 62 and the option to take SS or delay.
We had plenty of money to comfortably retire but decided to take SS early as we are travelers. Always have been and always will be as long as the health stay good.
As one ages, your health rarely improves. We are all on the downslide health wise for the most part, and nobody gets out of this alive.
We decided to take it early while our health was good and not wait until one starts slowing down more and more approaching 70 yrs old so we could have the premium life experience during the early part of our retirement.
As we age and slow down, we won't need as much money so saw no need to wait for a few hundred bucks more a month from the SS by waiting.
That's just our thinking. Everyone has to consider their own situation.
Why would you want to let the government sit on your money for 10 years? If you have enough income to retire on, why wouldn't a person take the draw at 62, and put it in the bank or CD's for a slight guaranteed interest rate to grow your money vs letting the gubberment waste it and have it possibly go insolvent before you try to take it?
CD's are up to 4.5% or higher currently. I danged sure wouldn't invest it in the stock market with this administration in office, but there are ways to grow the nest egg even if slightly.
When you feel you need to tap into it, just schedule a draw from your savings on a monthly basis to supplement your retirement income and the SS payments still coming in equal to or above what waiting for SS would bring in.
Here is the big question we had when approaching 62 and the option to take SS or delay.
We had plenty of money to comfortably retire but decided to take SS early as we are travelers. Always have been and always will be as long as the health stay good.
As one ages, your health rarely improves. We are all on the downslide health wise for the most part, and nobody gets out of this alive.
We decided to take it early while our health was good and not wait until one starts slowing down more and more approaching 70 yrs old so we could have the premium life experience during the early part of our retirement.
As we age and slow down, we won't need as much money so saw no need to wait for a few hundred bucks more a month from the SS by waiting.
That's just our thinking. Everyone has to consider their own situation.