I've finally broke down and applied for Social Security Benefits. I've been putting it off because it's just one of those things you don't think about until something prompts you to think about it.
Lately there's been this talk on TV news about Social Security monies running dry in 2033 or whatever, the same song they've been singing for years. Between that, and every day that passes and I'm still on the green side of the grass is a blessing, I'm caving in. Do we NEED the money? No. But SS is not a handout, because some of my blood, sweat, and tears left behind in every job I've ever had was sent into the system from every paycheck. The world's biggest, legal ponzi scheme ever. And if I have the choice, then I get to choose.
I've been eligible since last year to do it, and figured I might just wait a while longer, but I did learn that even if you decide to retire early before your "full" retirement age date, it's structured to net you about the same over the rest of your average expected lifetime. In my case, I figured if I lived until I was 80, I'd cut myself short of a total of 2 months worth of benefits by retiring "early". If I make it that long, I'm surely not going to GAF about 2 months of missing out on benefits. But if I croak off next year or something, then I'll have at least got a little bit of use out of the system. I retired at 57, so it's not a must for us, but I said what the heck and threw my hat in the ring. Never know what's going to happen in the future. Congress may make it means-based and cut us off completely. To which, then it would be a handout. Who knows?
It's just a matter of what size benefit check you think you will need. You won't necessarily get "extra" money by waiting until 70 like they love to try to make you believe. If you waited until 70, that's 8 potential years of not taking the benefit, to which if you used the average benefit numbers, you'd be giving up on 180K worth of benefits by the time you start at age 70. If check size matters to you, then wait. If it doesn't, go early. You're still going to die the same day, whenever that may be.
I did it online and found it incredibly easy to apply. Now I just have to wait for the approval, however long that takes.
It's a personal thing, so you do you. If you're not quite old enough yet to do so, hopefully one day you will be. The alternative isn't a good one.
Lately there's been this talk on TV news about Social Security monies running dry in 2033 or whatever, the same song they've been singing for years. Between that, and every day that passes and I'm still on the green side of the grass is a blessing, I'm caving in. Do we NEED the money? No. But SS is not a handout, because some of my blood, sweat, and tears left behind in every job I've ever had was sent into the system from every paycheck. The world's biggest, legal ponzi scheme ever. And if I have the choice, then I get to choose.
I've been eligible since last year to do it, and figured I might just wait a while longer, but I did learn that even if you decide to retire early before your "full" retirement age date, it's structured to net you about the same over the rest of your average expected lifetime. In my case, I figured if I lived until I was 80, I'd cut myself short of a total of 2 months worth of benefits by retiring "early". If I make it that long, I'm surely not going to GAF about 2 months of missing out on benefits. But if I croak off next year or something, then I'll have at least got a little bit of use out of the system. I retired at 57, so it's not a must for us, but I said what the heck and threw my hat in the ring. Never know what's going to happen in the future. Congress may make it means-based and cut us off completely. To which, then it would be a handout. Who knows?
It's just a matter of what size benefit check you think you will need. You won't necessarily get "extra" money by waiting until 70 like they love to try to make you believe. If you waited until 70, that's 8 potential years of not taking the benefit, to which if you used the average benefit numbers, you'd be giving up on 180K worth of benefits by the time you start at age 70. If check size matters to you, then wait. If it doesn't, go early. You're still going to die the same day, whenever that may be.
I did it online and found it incredibly easy to apply. Now I just have to wait for the approval, however long that takes.
It's a personal thing, so you do you. If you're not quite old enough yet to do so, hopefully one day you will be. The alternative isn't a good one.