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
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Baby Boomers
In reply to the discussion: Thoughts on retiring - update! [View all]3Hotdogs
(12,332 posts)13. The last paragraph says it all. Do it.
Regarding S.S., if you are living on your present salary, you don't need S.S.
When you collect your pension, you don't pay into S.S., medicare, unemployment and so forth. Your take-home pay will be about the same as you take home, now.
HOWEVER, there was a plan that may still exist. That is where you collect S.S. and put it in C.D.'s until age 69 and 11 months. Then pay back the ss and collect full benefits calculated at age 70. Then you keep the interest.
If you want to do this, check to make sure it is still an option.
Edit history
Please sign in to view edit histories.
39 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
If you have some doubts maybe talk to a financial advisor first and think over what they say
mart48
Nov 2018
#10
I heard that option had changed. That's why I said to check with S.S. before trying to do it.
3Hotdogs
Nov 2018
#17
Go for it. I retired at 59 and haven't regretted it for a minute. I miss seeing my friends at
catbyte
Nov 2018
#20
Thank you so much for this thread. I'm ready to retire, but not ready to retire.
AnotherMother4Peace
Nov 2018
#36