My husband always said that we should collect SS as soon as we were eligible. Sadly he died very suddenly and unexpectedly at the age of 61. I started collecting survivor’s benefits at age 60, the minute I was eligible. Something to consider is that if you keep working while you’re waiting to collect SS at full retirement age is that not only are you not collecting benefits yet, but you are also continuing to pay into the SS program.
It’s funny. Back when I was growing up it was common knowledge that everyone retired at 62 YO. In modern times so many people are financing “things” that have tied them down with fear to leave their job.
I agree with most of what you are saying, but sometimes waiting 5 more years is necessary financially. Sure you can get a side hustle starting at 62 to bridge the gap between what you get from SS and what you need. But how long can you keep up a side hustle? Unlikely you can keep it up forever. If you hate your 9-5 job, then at 62 you can switch to a part time job doing something you enjoy, and be able to delay SS to 65 or 67 when benefits will be higher.
My husband and I started collecting at 62 and we are saving our Deferred Comp for whoever lives the longest for their long term care needs. If we waited until 67 and drew from our Deferred Comp first the last one of us who passed away would have no money for our long term care needs. My husband also has a Pension that covers me for the rest of my life.
You are going to lose higher earnings from 62 -67, which increases your SS benefits at FRA. You will also lose potential savings, IRA/401K contributions from the higher income "prison" job.
I was 66 Years old last November, Started my SS at 62, Four+ years under my belt now and no regrets. Among the folks I know, NONE regret retiring as early possible, quite the opposite, All wished they left working sooner. When to start collecting is a personal decision based on many factors, Debt-free and medical costs will have an impact. For those contemplating delaying retirement, Take a few visits to Skilled nursing facilities before deciding to work longer, your life $$ savings may end up there, The quality of life you lose between 62 and 70 may be very great.
Totally with you brother…just gotta make it happen …dad had same philosophy as you. He retired at 62 was diagnosed with cancer at 64 and passed at 67….from 62-64 were his happiest days of his life
Ok, you answered that, but not gonna work for hubby and I. I wish we could take social security at 62, and retire. I do agree so much of it is a government scam. My hubby is not in great health, is 60.......we will see how long he lasts working.
If you're a veteran, apply for veterans' health care. no monthly premiums. I will sign up for Medicare at 65, but VA healthcare fills the 3-year gap from 62 to 65. Then you can have both.
Health Insurance is a Joke .! Get healthy , eat good, move , connect with nature, help others , volunteer etc. and you will be in charge of your own health . 👍😎🫶🏼🙏
Amen, brother! You better bet that my hubs and I started collecting at 62. We own a rural home in the Midwest and both collect a small pension from our previous job. I actually could retire from mine at 57 1/2 AND DID!!! We lived more frugally in those years when I was between 57-62 years, but it was well worth it. My husband has a side gig, but I do not. I like doing what I want, when I want. Lol!
I just retired and turned 60 this past August. You’re right, I pay 689 for Health Insurance, 44 for Dental and 9.79 for vision. Im going to take a 5 Month break and after, get a less stressful job hopefully making 100k. I think I’ll wait until 67 to collect SS. I really appreciate everything you share. Thanks 😊
I got mine at 58 through disability. It's max 100% for the duration of my collecting. People need to think about the expectation of when dying. If you are smart about it, and earn some interest, you'll never be sorry
Time only moves one way. I’m 58 and self employed and burnt out. I can’t wait to retire. I remember my Dad saying he couldn’t wait until he was 62 and retire. Sadly he died at age 51.
That’s terrible. I’m sorry. Well you’re knocking on the door 62 and soon you will be free! Just get a little side hustle with that Social Security and enjoy your life.!😎
Good points. I’m 62 now the only reason I haven’t stopped working is I’ve got to get my 30 years in to get my pension which is only a year longer. I’m almost there. Lord willing end of April and I’ll be DONE!!😂
@@markmurphy3177 I am so sorry about your brother. A few years ago, my brother told me that he went to the funeral for one of his coworkers and the date of his funeral was originally supposed to be his last day of work. This hit my brother really hard, since the man was so excited about finally being able to retire.
You're right. Collecting at 62 is a no-brainer. I collected mine at 62, and I'm 84, and I think I'm ahead of the game. Have a great day, Tim; keep it up.
You are 100% correct about everything you have said here. I too took Social Security at age 62 and it was one of the smartest things I have ever done. It helps me out greatly since I am very low income. Can you do a video about free Medicare and how to get it? I will be eligible for Medicare this year. It is so hard to believe, lol.
Well, you still need the healthy 4O1K along with a hefty nest egg and then take it at 62, don't be a fool and just think that SS is going to pay your bills
🤩👍🇺🇸⚖️👁️👁️⚖️👍 Happy MAGA New Year! Great stuff Tim! God bless ya! Caught your channel last year! I begin next chapter in March! Aye Begoragh! Get er done!🤪👍👍👍🇺🇸🏁🏁🏁🏁🏁🏁🏁
![Blox Fruits Dragon Rework Update [Full Stream]](http://i.ytimg.com/vi/EqDAp8udhm0/mqdefault.jpg)
I retired at 65 to get on Medicare and now work 16 hours a week at my electronics job. Love it and bringing in more money than I was working full time
Way to go, Mark glad you’re finally crushing your freedom. 😎👍
My husband always said that we should collect SS as soon as we were eligible. Sadly he died very suddenly and unexpectedly at the age of 61. I started collecting survivor’s benefits at age 60, the minute I was eligible. Something to consider is that if you keep working while you’re waiting to collect SS at full retirement age is that not only are you not collecting benefits yet, but you are also continuing to pay into the SS program.
It’s funny. Back when I was growing up it was common knowledge that everyone retired at 62 YO. In modern times so many people are financing “things” that have tied them down with fear to leave their job.
Yes. This is so true!
I agree with most of what you are saying, but sometimes waiting 5 more years is necessary financially. Sure you can get a side hustle starting at 62 to bridge the gap between what you get from SS and what you need. But how long can you keep up a side hustle? Unlikely you can keep it up forever. If you hate your 9-5 job, then at 62 you can switch to a part time job doing something you enjoy, and be able to delay SS to 65 or 67 when benefits will be higher.
Remember… There’s only one reason not to collect Social Security at 62. 😎
@SarasotaTim What reason is that?
My husband and I started collecting at 62 and we are saving our Deferred Comp for whoever lives the longest for their long term care needs. If we waited until 67 and drew from our Deferred Comp first the last one of us who passed away would have no money for our long term care needs. My husband also has a Pension that covers me for the rest of my life.
You are going to lose higher earnings from 62 -67, which increases your SS benefits at FRA. You will also lose potential savings, IRA/401K contributions from the higher income "prison" job.
You left out the part how you lose your life that you can’t get back working a prison job And possibly health 😎
I don’t regret retiring at 44. You can’t buy back time.
I was 66 Years old last November, Started my SS at 62, Four+ years under my belt now and no regrets. Among the folks I know, NONE regret retiring as early possible, quite the opposite, All wished they left working sooner. When to start collecting is a personal decision based on many factors, Debt-free and medical costs will have an impact. For those contemplating delaying retirement, Take a few visits to Skilled nursing facilities before deciding to work longer,
your life $$ savings may end up there, The quality of life you lose between 62 and 70 may be very great.
Totally with you brother…just gotta make it happen …dad had same philosophy as you. He retired at 62 was diagnosed with cancer at 64 and passed at 67….from 62-64 were his happiest days of his life
I am retiring at 66 spilt the difference. You do you I am hedging my bets…
What about health insurance? Most can't afford the medical insurance between 62 and the time they can get Medicare at 65.
I went over that 😎
Ok, you answered that, but not gonna work for hubby and I. I wish we could take social security at 62, and retire. I do agree so much of it is a government scam. My hubby is not in great health, is 60.......we will see how long he lasts working.
If you're a veteran, apply for veterans' health care. no monthly premiums. I will sign up for Medicare at 65, but VA healthcare fills the 3-year gap from 62 to 65. Then you can have both.
@SarasotaTimyou voted for a man who plans to get rid of the Affordable Care Act. Is your plan to just drop dead one he’s in office?
Health Insurance is a Joke .! Get healthy , eat good, move , connect with nature, help others , volunteer etc. and you will be in charge of your own health . 👍😎🫶🏼🙏
Looking forward to getting SS at 62 and enjoy my best life.
Amen, brother! You better bet that my hubs and I started collecting at 62. We own a rural home in the Midwest and both collect a small pension from our previous job. I actually could retire from mine at 57 1/2 AND DID!!! We lived more frugally in those years when I was between 57-62 years, but it was well worth it. My husband has a side gig, but I do not. I like doing what I want, when I want. Lol!
Retire now be a minimalist ,be happy😊
I just retired and turned 60 this past August. You’re right, I pay 689 for Health Insurance, 44 for Dental and 9.79 for vision. Im going to take a 5 Month break and after, get a less stressful job hopefully making 100k. I think I’ll wait until 67 to collect SS. I really appreciate everything you share. Thanks 😊
I got mine at 58 through disability. It's max 100% for the duration of my collecting. People need to think about the expectation of when dying. If you are smart about it, and earn some interest, you'll never be sorry
Time only moves one way. I’m 58 and self employed and burnt out. I can’t wait to retire. I remember my Dad saying he couldn’t wait until he was 62 and retire. Sadly he died at age 51.
That’s terrible. I’m sorry. Well you’re knocking on the door 62 and soon you will be free! Just get a little side hustle with that Social Security and enjoy your life.!😎
Hey Tim! I turned 60 this year. Just waiting on 62 and then I’m collecting!! 😍
One more reason to do a strict Carnivore Diet! Health is wealth. You can live into your 100's with the Proper Human diet! Jim.
Blessed and Happy New Year Tim 🎉‼️
The weather looks beautiful!
Retire 62 for me, yep can't take stuff in my dirt bed! Minimize & live!
🎉🎉🎉🎉🎉
62 thats what i did
Some have pensions, 401k or some other savings. Some people keep working to pay debt down or for health insurance. Happy New Year 🎆 Tim.
Minimize & get Healthcare marketplace! Pensions will become obsolete!
Good points. I’m 62 now the only reason I haven’t stopped working is I’ve got to get my 30 years in to get my pension which is only a year longer. I’m almost there. Lord willing end of April and I’ll be DONE!!😂
My co-worker was a smoker and passed away at age 52. Did not get to enjoy any of his retirement money.
I hear that story all the time. Sad. 😎
Story of my brother. He drank and smoked and died at 52. I am the only brother that collected SSI. My sister collected at 66yrs old. I get more money.
@@markmurphy3177 I am so sorry about your brother. A few years ago, my brother told me that he went to the funeral for one of his coworkers and the date of his funeral was originally supposed to be his last day of work. This hit my brother really hard, since the man was so excited about finally being able to retire.
You're right. Collecting at 62 is a no-brainer. I collected mine at 62, and I'm 84, and I think I'm ahead of the game. Have a great day, Tim; keep it up.
My Dad is 95, that’s 32 years collecting SS. Lives on his own.
Sounds good! Going to do it when I turn 62 at the end of this year. Maybe keep same job working part time. Not sure yet.
Minimum work till 65. Get Medicare. Zero debt is your goal.
Drink Geritol! snort laughed!😂
Nice shirt! Pray for our President and his family. Thanks for these topics on collecting early.
Yes-we all need to keep praying for President Trump and his family and friends and everyone connected to him.
I cant wait🎉🎉🎉🎉 Im 54 I have 8-10 years left to work!!!! Leaning toward 62😂😂😂. I’m debt free
You are 100% correct about everything you have said here. I too took Social Security at age 62 and it was one of the smartest things I have ever done. It helps me out greatly since I am very low income. Can you do a video about free Medicare and how to get it? I will be eligible for Medicare this year. It is so hard to believe, lol.
HEY TIM HAPPY 2025!
- SNOOP
Hey Buddy 👋😎
I can’t wait to take the Sarasota Tim retirement plan have one year and a half to go 👍
Don’t call yourself a geezer. Just say older man.😅
I never thought of break-even when I started SS two years ago. Oh well??
Love it Tim!!!!!
You are So Right!!!
1 year to go for me.
Tim is on fire today!!!!😊
I can’t wait to turn 62 so I can collect. I’ve been ready since I found this channel 2 yrs ago. I wanna Crush it like you Baker! 🙏🏼☕️
Well, you still need the healthy 4O1K along with a hefty nest egg and then take it at 62, don't be a fool and just think that SS is going to pay your bills
Hahaha you’re gonna Crush it big time!😎
Thank you Tim! Very much on point!
🤩👍🇺🇸⚖️👁️👁️⚖️👍 Happy MAGA New Year! Great stuff Tim! God bless ya! Caught your channel last year! I begin next chapter in March! Aye Begoragh! Get er done!🤪👍👍👍🇺🇸🏁🏁🏁🏁🏁🏁🏁
You've got the right shirt on!🎉 2025!
Way to go Baker!!
Love the shirt, love the message! 👍
yes so true