Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
In reply to the discussion: Early Social Security? [View all]
Happy Hoosier
(9,535 posts)95. The real question is can you afford to?
Given that early SS benefits come with an income limit, can you get by with the limited income and reduced benefit? If you have a lot saved, withdrawals won't count towards the limit. If so, that's a viable path. Don't forget medical insurance before Midecare eligibility.
Personally, I'm going to try and pad my 401K as much as I can to FRA.
Edit history
Please sign in to view edit histories.
98 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
I applied and was approved two months ago, no money this year as I made too much but I quit my
Shellback Squid
Nov 2024
#25
I'm seriously considering applying at 62 for the same reason you mentioned....
Think. Again.
Nov 2024
#4
Just my thoughts on ACA. I think they may just change the name only and say they improved it...
Joinfortmill
Nov 2024
#96
One thing seldom mentioned in these calculations is the cost-of-living adjustment.
Midnight Writer
Nov 2024
#10
Yeah, my first COL raised me over the $1K mark. Other years, it's just been a tiny bit, but I'll take it.
mucholderthandirt
Nov 2024
#84
Why do you think recipient benefits for current or soon to be recipients will be cut?
WarGamer
Nov 2024
#11
Glad that plan worked it out for him, madville. Like I wrote, everybody's health and fate are different.
C0RI0LANUS
Nov 2024
#36
If you are still working and cover your spouse, that coverage will remain primary until you retire.
tritsofme
Nov 2024
#43
If you can wait until full retirement it will amount to significantly more money, but only if it is 66 not 70, and if
JohnSJ
Nov 2024
#45
I wouldn't wait. That's just me. I don't trust that in the next 4 years, those not already in will be let in.
ancianita
Nov 2024
#47
Trump and Vought don't care about no blowback. If you know that, and you know that The People are
ancianita
Nov 2024
#55
I expect medical costs and local taxes to skyrocket. I'm holding out until age 70.
Auggie
Nov 2024
#50
Forgoing 2 years of 3600: 86,400. Breakeven point of 86,400 / 650: 11 years after age 70 age 81, not counting interest.
lostnfound
Nov 2024
#74
I took social security at 65, one year before my full retirement benefit at 66.
Joinfortmill
Nov 2024
#59
I've been on disability just after my first semester of college, but I don't know if that counts.
sakabatou
Nov 2024
#60
Go for it. My husband has worked full time for years while on Social Security.
scarletlib
Nov 2024
#80
My brother is eligible in January, and he's debating taking it early. He'd planned to work a few more year.
mucholderthandirt
Nov 2024
#82
I retired at 62 14 years ago, I have never regretted that decision for one second. Of course,
doc03
Nov 2024
#83
I retired as an "old fart", 68 years old, and started SS when I turned 70
JustABozoOnThisBus
Nov 2024
#87
These are the key ages: 62, full retirement age (FRA), year you reach FRA, maximum benefit age (MBA)
discntnt_irny_srcsm
Nov 2024
#89