You Really Should Delay Social Security in These 3 Situations

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[@gravelstudios]

My dad worked for the State of Maryland prison system, and had intended to work longer, but ended up retiring as soon as he turned 62 because his job was giving him PTSD symptoms. He figured it didn't matter how much money he got per month if he lost his mind. Of course he also receives his pension, so his numbers worked out and he hasn't regretted it one day since. It was the right choice for him.

[@mkenyon7429]

This is one of the best, most straightforward, explanations that I’ve heard.

[@leealtmansr.3811]

Great information. There are why too many videos are promoting taking SS at 62. Your information is right on!

[@PlanYourFederalBenefits]

Glad it was helpful!

[@zenawarrior7442]

Excellent points again & broke down well. Thanks!😊

[@PlanYourFederalBenefits]

Very welcome!

[@user-yu1cj8cy5f]

Thats right!

[@David-cv3bp]

Be prepared to pay out of pocket for your monthly Medicare at age 65 if you do not collect SSA. The FRA for most is 67, but people must signup for Medicare at 65! This really should be changed by Congress, IMHO

[@stephengrijalva8854]

I would consider your family’s medical history as well. If they have a history of passing away at a younger age, you may want to take it early.

[@walkingdude8779]

What do you say to av person how had cancer (remission) since 40. Do you roll those dice.

[@ruderabbit797]

Thank you for all you and your team do. I cannot find an answer to my situation. Really hope you can help. Maybe others in same sit will see this. I'm now on FIRS disability early retirement at 53 with 33yrs of work. We know that will change to regular FIRS reg retirement at 62. If I'm on SSDI when that occurs, will that force me to regular SSA retirement? Or, if I do not go onto SSDI, could I still wait till age 67 to take that SSA retirement? Or if being past five years, would I loose all SSA? Or maybe do some short term temp work as long as it stays below the 80% of last FIRS paycheck thing, just to keep SSA in play? But if at 62, this situation forces me to SSA retirement as a requirement?

[@PlanYourFederalBenefits]

Great question. This is a very specific question that I cannot answer through a comment. But if you would like to schedule a meeting with us, feel free to do so: app.hawsfederaladvisors.com/work-with-us

[@David-cv3bp]

If you qualified and continue for SSDI it will continue to your full retirement age and then convert to regular full SSA. FERS really has nothing to do with SSA.

[@shopgirl6673]

What is considered Healthy TSP dollar amount?

[@PlanYourFederalBenefits]

Great question. It varies from person to person. It also depends on your income and what you're already used to getting. Here's a great video of what you can do if you have $400,000 in your TSP at retirement: kzbin.info/www/bejne/rJKreHeNpKt1orM&pp=ygUYaGF3cyBmZWRlcmFsIDQwMGsgaW4gdHNw

[@jts1430]

With my spouse making more than me in SS monthly payment (when we take it, we're not at this time). Does it make sense for me to take SS asap when I can? Going to retire at 62 to get the 1.1% .

[@PlanYourFederalBenefits]

Great question. One great benefit of social security is the survivor benefit if you're married. If you or your spouse dies, the spouse with the higher social security benefit would remain with the living spouse.

[@David-cv3bp]

@@PlanYourFederalBenefits , one of the worst parts of the SSA is the spousal portion if you ask me. A 2 person family both having worked and collect SSA, only gets 1 monthly when the spouse dies. It may be the higher, but it is still way less than when both collected!

[@bigblue3568]

Take that sucker at 62! Takes well over 11 (edit yrs) months to break even if you had waited till 67 so that would be roughly 78!!!!!! to start reaping benefits of waiting and at that age you would have slooooooooooowed down more likely health wise anyway and not able to enjoy it. This is all assuming you have a nice TSP/Pension and have done all the proper financial planning etc. which as a federal employee hopefully you are smart with money.

[@David-cv3bp]

I think you mean 11 yrs

[@daisylvoe2061]

67 or 70?

[@TobyJohnBob]

67 (for most of us) is full retirement age, so delaying it means taking it after your FRA. Taking it before your FRA (like at, let’s say, 62), is taking SS “early”

[@donrodriguez8615]

67 is full retirement age , if you wait until 70 you will get your maximum payment for delaying your retirement. Up to you when you want to claim . 62 you will get a reduction for every year you are under your full retirement age