In the thread OP started today he said zilch about a wife in the first post & I missed the post at 5:55PM where he responded to a Silk McCue post from AUG 21 after the two threads were merged by the moderators.Why do you assume he's single when he previously stated he was married?<snip>Unless I’m missing something .. I’ll get 400.00 more a month waiting 2 yrs .. but I’ll lose those two years at 36000 per year so 72k<snip>
Maybe I’m not explaining it correctly
So I will be working and receiving a salary for 7 months , Jan 2024 to July 2024 .. I will then turn 65 in August and retire .. no more salary , only income will be from a few CDs
So my only question is : Will my benefit be affected because I had income in 2024 prior to retiring ?
I’d have to live 12 more years just to break even
I assume you're single, so that's a tougher call. Married folks have a high chance of 1 person in the couple reaching 90 (about 50%) & delaying claiming makes more sense.
If you're single, you have to make your best guess.
Thanks for pointing that out, because the argument for the high earner in the couple delaying SS as late as possible is ironclad!
So, not only should OP delay until FRA, he very likely should delay claiming SS until 70, in order to lock in the >25% higher worker's benefit compared to 66 & 10 months, which also becomes the survivor benefit for the widow..
As I mentioned previously, the odds of at least 1 member of a couple living until 90 are quite high- 50%. See the table in this Kitces article- https://www.kitces.com/blog/why-it-rare ... -benefits/
OP, have you been to https://opensocialsecurity.com/ to plug in your PIA & your wife's PIA & get a claiming strategy recommendation? That calculator is highly regarded around here.
Statistics: Posted by Navillus1968 — Thu Dec 07, 2023 10:28 pm — Replies 26 — Views 1599