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Sugar_and_Spice

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I totally agree with collecting you SS check as soon as you can. I have known 2 people that have decided to wait those extra years to get "more money".

It didn't work out.

Person #1 - died before she collected a penny.

Person #2 - died shortly after she started collecting, making her total collected amount far less than if she had opted to start collecting the smaller check years before. Technically, she lost thousands instead of gaining thousands.

Of course, none of this matters since they are dead, but it does matter when a person is thinking of collecting now or later just because in theory you get more money. That theory may not pan out to be reality.
I did the math(as best I could anyway) and found that no matter how long I lived I would never live long enough to re-coop the money lost on not filing sooner instead of later. So I filed as soon a I was eligible.
 

Sugar_and_Spice

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If I retire in September with my 25 years, I'll receive half my current paycheck in retirement until my second retirement kicks in at 59 1/2 yo. Half of measly equals even more measly. :lol: Not something I'm willing to do quite yet.
That is why most experts tell you to have enough in savings to get you through. I know its tough. But if you can do it then that 2nd retirement will arrive in what seems no time. When you retire, time seems to just fly by cause by then you are no longer waiting on anything. When working, we time ourselves to not only a daily schedule but also a yearly one, a retirement date, etc. When retired and no longer waiting for X to happen, it seems to fly by.

:)
 

Sugar_and_Spice

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Maybe but lots of folks don't file.
Agree. But you will get yours sooner because you have direct deposit from ss. Those that do not file taxes, need to go to the irs website and enter their info to have theirs direct deposited or to even sign up for the stimulus. You don't have to cause of ss already making that direct deposit. I know, the gov never makes anything simple.

:)
 

FranC

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    Agree. But you will get yours sooner because you have direct deposit from ss. Those that do not file taxes, need to go to the irs website and enter their info to have theirs direct deposited or to even sign up for the stimulus. You don't have to cause of ss already making that direct deposit. I know, the gov never makes anything simple.

    :)
    Cool. Things are rarely that easy.
     

    *RJ*

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    That is why most experts tell you to have enough in savings to get you through. I know its tough. But if you can do it then that 2nd retirement will arrive in what seems no time. When you retire, time seems to just fly by cause by then you are no longer waiting on anything. When working, we time ourselves to not only a daily schedule but also a yearly one, a retirement date, etc. When retired and no longer waiting for X to happen, it seems to fly by.

    :)
    Exactly! And that savings is what I'm working on right now and why I'll continue to work a little while longer. I am finally debt free since I paid my house off five years ago. Saving was difficult being a single parent with no help. But I'm working on it! My life plan, after a few bumps and bruises, is right on track. For now.

    Time already flies by...I want it to slow down.
     

    Zazie

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    Agree. But you will get yours sooner because you have direct deposit from ss. Those that do not file taxes, need to go to the irs website and enter their info to have theirs direct deposited or to even sign up for the stimulus. You don't have to cause of ss already making that direct deposit. I know, the gov never makes anything simple.

    :)
    Well, they were going to make us (i.e., those who get SS and don't file) file and then decided just to deposit the money in our accounts. That's simpler.
     

    FranC

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    Well, they were going to make us (i.e., those who get SS and don't file) file and then decided just to deposit the money in our accounts. That's simpler.
    I have nothing to file
     

    Sugar_and_Spice

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    Well, they were going to make us (i.e., those who get SS and don't file) file and then decided just to deposit the money in our accounts. That's simpler.
    But look what they were going to do until someone figured it out. A lot of extra stuff with zero benefit for them. At least by making it somewhat simplier its a win-win.

    :)
     

    Sugar_and_Spice

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    Exactly! And that savings is what I'm working on right now and why I'll continue to work a little while longer. I am finally debt free since I paid my house off five years ago. Saving was difficult being a single parent with no help. But I'm working on it! My life plan, after a few bumps and bruises, is right on track. For now.

    Time already flies by...I want it to slow down.
    Good luck with slowing down. lol I am busier now being retired than I ever was when I worked(even 2 jobs). All those things that get pushed back when we have jobs now become higher priorities on our lists. And no excuse, now, not to do them. They just take a smidge longer because we are older and don't move as fast as we used to.

    :)
     

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