Topic: I'm officially old! (Read 3454 times)

16HD117 · « **on:** April 08, 2014, 03:32:20 PM »

Well, I'm officially old! Applied for Medicare today!

Rooster · « **Reply #1 on:** April 08, 2014, 03:39:44 PM »

WOOOOHOOOOO I think

2010Convertable · « **Reply #2 on:** April 08, 2014, 03:40:02 PM »

Welcome aboard...Been drawing Social Security since 2005 at 64. Still feel like a kid and at piece the same time on my Harley.

ChopperPilot · « **Reply #3 on:** April 08, 2014, 04:00:48 PM »

Quote from: 2010Convertable on April 08, 2014, 03:40:02 PM

Welcome aboard...Been drawing Social Security since 2005 at 64. Still feel like a kid and at piece the same time on my Harley.

Now that is the right way to look at things!!!

donald p · « **Reply #4 on:** April 08, 2014, 04:27:16 PM »

Right behind you at 63.4

MIKEYTEE · « **Reply #5 on:** April 08, 2014, 05:19:44 PM »

Congratulations Tommy!
Your officially one third of the way through your life.
Or is that when you get your AARP card?
Oh well it's something.
Welcome to the club.
Mike

Chains · « **Reply #6 on:** April 08, 2014, 08:02:49 PM »

Congratulations signed up almost a year and a half ago. Got my first social check in December 2013. Looking to stop working in June unless they throw a sack of money at me.

willyB · « **Reply #7 on:** April 08, 2014, 08:07:34 PM »

Quote from: 11hd110 on April 08, 2014, 03:32:20 PM

Well, I'm officially old! Applied for Medicare today!

Yet, you're still grippin' it and rippin' it!

2k · « **Reply #8 on:** April 08, 2014, 09:53:39 PM »

Don't forget to send in the $110 each month!!!!

dooinit2u · « **Reply #9 on:** April 09, 2014, 07:57:30 AM »

You not old, kinda like a good seasoned black iron pot... Oh I said pot...ooopppps.

You still got it Tommy, Good Luck with that . See Y'all soon bro...

gadgetz · « **Reply #10 on:** April 09, 2014, 08:10:02 AM »

I say good for you;

enjoy the benefits while they're still available.

I'll probably just kill-over behind the desk as retirement is like profanity around here.

FLY-DOG · « **Reply #11 on:** April 09, 2014, 06:31:09 PM »

Well good for you; although I'll be 67 this July I'm holding off to draw SS until 70 when I have to draw it.......I'm still working and love my job and don't need the SS money at this time. You can draw full SS at 66 but waiting the extra 4 years gets you a 32% higher SS check at 70 (8% higher per year past 66). That extra $800 to $900 per month will be properly spent on toys.

WestCoastRuss · « **Reply #12 on:** April 09, 2014, 06:52:49 PM »

A man is as old as the woman he feels......

.....and congratulations on the extra loot each month!!!

Older Guy · « **Reply #13 on:** April 10, 2014, 07:33:24 AM »

Welcome to the club,75 still working partime and riding. downsized from CVO Streetglide to CVO Deluxe. Hope you enjoy more free time.
Older Guy

moscooter · « **Reply #14 on:** April 10, 2014, 11:59:58 AM »

Quote from: FLY-DOG on April 09, 2014, 06:31:09 PM

Well good for you; although I'll be 67 this July I'm holding off to draw SS until 70 when I have to draw it.......I'm still working and love my job and don't need the SS money at this time. You can draw full SS at 66 but waiting the extra 4 years gets you a 32% higher SS check at 70 (8% higher per year past 66). That extra $800 to $900 per month will be properly spent on toys.

I quite understand your logic, but hope you also (did the math). Pick a target timeframe out in the future and calc the monthly rate of your SS (if you started drawing it now) and since you say you don't need it, bag it away maybe getting interest on it too. How much would be accumulated VERSUS waiting until you're 70 and then drawing out the higher amount.

None of us really know how long we will last, but you could calc the far out date where your (higher) SS monthly totals would finally EXCEED your SS monthly totals if you started taking them now and it will be a loooooooooooong time out there before the higher sum can catch up.

Fired00d · « **Reply #15 on:** April 10, 2014, 12:26:18 PM »

Quote from: moscooter on April 10, 2014, 11:59:58 AM

I quite understand your logic, but hope you also (did the math). Pick a target timeframe out in the future and calc the monthly rate of your SS (if you started drawing it now) and since you say you don't need it, bag it away maybe getting interest on it too. How much would be accumulated VERSUS waiting until you're 70 and then drawing out the higher amount.
None of us really know how long we will last, but you could calc the far out date where your (higher) SS monthly totals would finally EXCEED your SS monthly totals if you started taking them now and it will be a loooooooooooong time out there before the higher sum can catch up.

Exactly!!!! Waiting doesn't get you more as life span/longevity is against us.... get what you can now for as long as you can.

Ride Safe,
Fired00d

RonandJanet · « **Reply #16 on:** April 10, 2014, 12:44:27 PM »

I am getting there and didn't know I could draw SS and still work. I thoguht there was a limit on how much you could earn and still get SS. My plan is 66 with my wife at 62.5.

FLY-DOG · « **Reply #17 on:** April 10, 2014, 03:04:43 PM »

Quote from: RonandJanet on April 10, 2014, 12:44:27 PM

I am getting there and didn't know I could draw SS and still work. I thoguht there was a limit on how much you could earn and still get SS. My plan is 66 with my wife at 62.5.

If you draw SS early (before 66) you will get reduced benifits if you earn over a certain amount. After 66 and you continue to work, you can earn as much as you want with no penalty. To each their own, I don't need any of my SS now as I'm still working and plan on not drawing until 70 years of age. I know some say that's a risk as it takes a while to make up the difference in what you would have drawn between 66 and 70. I don't care, it's my money and I'm already in too high a tax bracket now so I'm letting it ride....everythings a risk. If I lose because I die early I won't care when I'm 6 feet under. What's right for me may not be right for another, that's why we don't all ride the same kind of scooter.

Older Guy · « **Reply #18 on:** April 10, 2014, 05:44:16 PM »

You have to live till your 90"s to make it pay, I looked into it and took mine at 62. my buddy kept telling me he would get more at 65. He passed away at age 66.Who knows what can happen at our age you cant plan ahead .Take what life hands you day by day and enjoy what you have.The road is long but has some bad curves in it.
Older Guy

Jock · « **Reply #19 on:** April 10, 2014, 08:40:14 PM »

Officially Old! I think not!

I am pleased that you will be able to take advantage of a program you have been paying into for a lifetime! After all the future is uncertain and all we have is a day at a time! Enjoy each one of them as I know you do!

dlaws01 · « **Reply #20 on:** April 10, 2014, 10:30:58 PM »

That just what the government is gambling on, that people will continue to delay retirement/ receiving SS benefits until they are older to draw more $$. I personally would rather draw less over a longer period of time than to get a little more for a shorter time. Statistics are in their favor or they (the government) would have laid out a different plan. I guess that you could give consideration to health, family history of disease/cancer and average longevity of family history to help in deciding just when to start receiving benefits but then again, we are not even promised tomorrow.

2 ROSE · « **Reply #21 on:** April 15, 2014, 02:58:21 PM »

I will be 62 next month in may...damn who would have ever thought I would make it this long. I have some investments that produce a little income regardless if I choose to work or not. I am also in relatively good health. I have a decent no stress job. Sooooooo...with all of that being said I think I will go until age 66.
It is true that comparing only SS benefits you have to live a long time to recoup what was not taken at 62. But when you take into account the additional salary you make if you continue to work which may be two or three times SS then it may not be too bad. I guess it depends on how much you like your job and current lifestyle. Right now I like both.

Author Topic: I'm officially old! (Read 3454 times)