Anyone regret taking SS benefit early?

[awol50]

Originally Posted by MTK46

That's not quite true. If you don't have 30 years into SS every year you work still counts even after 70. Don't ask how I know.

Actually it is the average of your top 35 years adjusted for inflation. Zero years counts if you have less than 35 years of ss wages.

[Mr_D]

Originally Posted by nothermark

If you are saying you have no regrets that's fine.

I am saying that I know people who have done it at 62 and regret it at 72 give or take a few years as they started running short of play money because the doctor bills started coming in and the investments stopped paying more than a few per cent. That is aside from the one's I know who are still working in their 70's.

My SS benefit of some $24,000 is about 1/4 of my income, so I don't regret taking it early.

[09 harley]

Of course someone regrets taking SSN early.

[Old-Biscuit]

Originally Posted by MTK46

That's not quite true. If you don't have 30 years into SS every year you work still counts even after 70. Don't ask how I know.

Originally Posted by awol50

Actually it is the average of your top 35 years adjusted for inflation. Zero years counts if you have less than 35 years of ss wages.

Per SS website:
The number of work credits you need to get retirement benefits depends on your date of birth.
If you were born in 1929 or later, you need 40 credits (10 years of work).

During your lifetime, you probably will earn more credits than the minimum number you need to be eligible for benefits. These extra credits do not increase your benefit amount. Your average earnings over your working years determine how much your monthly payment will be.

[gmccash]

There are quite a few insurance and investment firms which has a social security maximization calculator. Nationwide has a great program which analyzes when spouses should take benefits individually. Most scenarios show that its best for one spouse to claim early and the other to wait til FRA. Again depending on what information is inputed.

https://nationwidefinancial.com/#!/r...-analyzer-help

[CLIFFTALL]

It's time to move on as this thread has run its course and began to get political. Thanks to all that participated.