You are reporting the following post to the moderators for review and possible removal from the forum

Huh??
RE: Down goes the Dow

Ghost of Igloi wrote:


Huh?? wrote:


Ghost of Igloi wrote:


Huh?? wrote:


Ghost of Igloi wrote:

Yes I will continue to work another 2 years. Wife will get the maximum spousal benefit as long as she waits for her FRA. I continue to pay all the payroll taxes as well as the additional Social Security income. My break even point for wait or not wait was 82-84 years of age depending upon the discount rate. I am foregoing a company pension as long as I work so the thought process was to take a balanced approach. Work longer and fewer hours while continuing to add to 401k. Besides I have a lot of energy for a soon to be 68 year old.

Igy


Wouldn’t her maximum spousal benefit have happened if you waited to 70 to collect?


No, her spousal benefit is based on my PIA (Primary Insurance Amount) at my FRA (Full Retirement Age). She just has to wait until her FRA.

Igy


Ok, I get that. But why aren’t you waiting until you’re 70 to collect?


Foregoing my company pension, working less passing more revenue to my business partner, balancing longevity risk (being treated for cancer, though that was not factored into initial decision), prefer to have more now than at 82-84, and lastly balancing the possibility that benefits are cut down the road.

Igy


Ok. I appreciate your honest answer.

Hit the submit button below if you want us to review the post.

If you feel this is urgent or want a reply, email us at [email protected] about the post and please include a link to the thread the post is on and what page number/post on that page it is.