@151949 The SS law has changed a little more than a year ago. I was planning on collecting SS when I turned 62 on my earnings, then when I turned 66 to collect on my husband’s SS, where I would get more...actually I would get half of his amount.
I signed up for SS a few months ahead of my 62nd birthday, but then the law was changed and at the last minute I cancelled collecting it.
My older sister did this by collecting at age 62 as well as many of my friends. I just was too young to take advantage of this when it was allowed. So many people did indeed go on SS at age 62 and then they got more SS at age 66 under their spouses SS before the law was changed. They were not disappointed.
My DH and I both get a nice sizable pension from our employers, plus I own a business that gives me additional income. We can live well without SS, so we have put off collecting it, but I know we will not wait until age 70 to collect. We might be dead by then.
My DH has worked a part time job with the government that he started a few years before he retired on his days off. He can collect another pension from them if he works part time for another 16 months. He only works 2 to 4 days a week and only when he wants to. During the summer, he takes off a lot and only works a few days a month.
He is planning on working,another 16 months and then going on SS at that time too. He will collect the maximum amount that SS pays anyone which is about $2788. He could collect $3605 if he waits until age 70, which he won’t do. These are 2108 amounts and could change by then.
I will have to wait to age 66 to get full SS benefits, but I think I will collect a year earlier, so I don’t end up paying for Medicare Part B out of my pocket. We will both end up paying more than $134 a month for Medicare Part B at that point.
i have planned for our retirement since I was in my 30’s. So far most things have worked out well. I got sidelined when the stock market took a hit...I lost a ton of money twice, then got knocked off the path when SS changed the rules a month before my 62 birthday.
No matter what your situation, SS should never be your main source of income. Unfortunally, for many people it is.
So far for us, we should have enough to live comfortably the rest of our lives. I hope so.
I have promised that I would pay for my youngest grand daughter’s college if she keeps her grades up. She is 13 and a straight A student so far. I hope she continues to do well. I also hope college tutition does not double in five years.
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