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Started By
Message
Taking Social Security at 62 to Invest.
Posted on 12/10/23 at 9:14 am
Posted on 12/10/23 at 9:14 am
Good idea? Maybe?
Most literate seems to discourage this but I’d appreciate opinions.
Most literate seems to discourage this but I’d appreciate opinions.
This post was edited on 12/10/23 at 9:16 am
5
Posted on 12/10/23 at 9:25 am to OTIS2
My only hesitation is that your income limits how much you receive in SS income.
Are you still working?
Are you still working?
Posted on 12/10/23 at 9:30 am to OTIS2
If you are working they'll take back 1 dollar for every 2 you earn. The monthly amount you receive at 62 increases by 25% if you wait until 66-67. I wouldn't do it.
Posted on 12/10/23 at 9:35 am to OTIS2
Posted on 12/10/23 at 11:11 am to meansonny
Yes. Still working.
Posted on 12/10/23 at 11:33 am to Fat Bastard
Thanks
Posted on 12/10/23 at 11:49 am to Enadious
quote:
you are working they'll take back 1 dollar for every 2 you earn. The monthly amount you receive at 62 increases by 25% if you wait until 66-67. I wouldn't do it.
I think you get the withholdings back when you reach full retirement age.
But you just gave yourself two income haircuts.
1) less SS to invest and compound
2) early retirement haircut which is roughly 25% less (and 25% less for cola adjustments in the future).
Posted on 12/10/23 at 5:42 pm to OTIS2
Take it as early as possible. Period.
Posted on 12/10/23 at 11:36 pm to TigerDeBaiter
quote:
Take it as early as possible. Period.
That’s terrible blanket advice.
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