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re: Do you consider Social Security benefits in your retirement calculus?
Posted on 3/16/25 at 6:27 pm to Street Hawk
Posted on 3/16/25 at 6:27 pm to Street Hawk
Im hoping to retire by 50 so no.
1
Posted on 3/16/25 at 6:40 pm to nola tiger lsu
quote:
Im hoping to retire by 50 so no.
50 went out the window for me when I bought my new house and my first payment in January. I could always sell it and take the equity out. Went from 24k in debt for a 2023 car to 675k at 43. Plan on doing a pretty big remodel in a couple of years if the housing prices keep creeping up so hopefully should turn out ok.
Posted on 3/16/25 at 6:42 pm to Rize
quote:
My wife is almost 4 years older than I am. She says I’ve got to work 4 years longer than her so she can have some peace and quiet
My wife is about to be 52. She got pissed at me the other day when I told her she needed to work 10 more years
Posted on 3/16/25 at 6:48 pm to fallguy_1978
quote:
My wife is about to be 52. She got pissed at me the other day when I told her she needed to work 10 more years
Man them retirement calculators make we want to make it to 62
An extra 5 years from 57 to 62 is a really big difference.
Posted on 3/16/25 at 8:19 pm to fallguy_1978
quote:
Our situation is slightly unusual. My wife is 4 years and some change older than me and we had kids pretty young. I'll probably go talk to some specialist when the time comes. We can live on my income alone with no kids on the payroll so she'll hang it up before I do.
My wife is 6 years younger than me and she says she'll retire when I do.
Posted on 3/17/25 at 7:17 am to Street Hawk
I don’t but I also retired 13 years before I was eligible for SS money.
Posted on 3/17/25 at 7:35 am to fallguy_1978
quote:
I'm 47.
I think for those of us in this range currently if there is anything left the earliest we will be able to draw is 70 instead of 62. Benefits are going to get worse and worse as Gen X gets closer to having a decent % starting to be eligible to draw.
Posted on 3/17/25 at 7:44 am to VABuckeye
quote:
For instance. In Georgia, SS income is not taxed on the state level and you can have up to $65000 in investement income at 65 and older with no state taxation. When he reaches FRA his SS will not longer be reduced regardless of income.
But, the feds will still tax his SS income if he goes over certain threshholds.
Great post. That's why you wait to take SS if you absolutely don't need it. People do not understand or consider the tax consequences.
quote:you an NC have been spot on with your posts.
VABuckeye
Posted on 3/17/25 at 8:18 am to ronricks
quote:
I think for those of us in this range currently if there is anything left the earliest we will be able to draw is 70 instead of 62. Benefits are going to get worse and worse as Gen X gets closer to having a decent % starting to be eligible to draw
I just think that no politician or political party wants to be the one to touch SS or make cuts. Maybe I'll be wrong. I do think they'll keep extending the age.
This post was edited on 3/17/25 at 8:20 am
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