Tony The Tiger2 wrote:
(I realize most LRC people are less than 40.) But at what age do you expect to take social security?
I am nearly 62.
My family helps me out a lot and I have a small pension so I am thinking about
investing and waiting as long as I can to retire and take social security. 66 and 6 months sounds about right.
Experts advise that if you plan to marry a young woman or have kids you are better off
having the income that will come later by waiting until you are nearly fully retired.
What is your situation or thoughts on social security?
For what it's worth, I, too, had a small pension coming when I retired at 60. I also had worked for years in the private sector and earned the 40 point minimum for Soc. Sec.
But. But when I retired and applied for S.S. I discovered (actually learned about this a couple months earlier) that there was this thing called "offset" whereby the gov. Figures your s s. together with your pension (Calstrs) and reduces they amount you would have received a cording to a fo r mula they have....that a loss them to reduce your ss accordingly. Result: I end up getting $230./ Month in s. s. plus the pittance I accrued in my teachers retirement.
Try paying you dental and vision bills on that--another thing they don't pay.
Do yr homework first.