Question of the Day

Eddie asks: "Mish, have you ever computed your break-even on SS? I feel a strange compulsion to do the math, and wondered how many people have done this."

I waited for full benefits without doing the math. Yet, I generally advise doing the math.

Huh?

For starters, I am old enough to have gotten full benefits at age 66. I knew I would be working, collecting income on this blog off ad revenue, so waiting until I was 66 made perfect sense if ….

If What?

If I was healthy enough. And I am, at least at the moment.

Ready Made Decisions

If at age 62 someone has reason to believe they will not live long, then it may make sense to start collecting as soon as possible. In terminal cases, it's take the money and run while you are still alive.

I did not do the math for delaying beyond 66 because I wanted some extra income as soon as I could get it with full benefits. I feel adequately covered elsewhere. So mine was a balanced decision.

Those who absolutely need money ASAP may have their choice made for them. Unfortunately, I suspect too many people are in this boat.

Everyone is different. Please consult your advisor and accept responsibility for decisions you make.