Bernie Sanders

No Vested Interest

(5,166 posts)

24. Taking Social Security at 62 reduces your payment 20%/month for the rest

Thu Oct 1, 2015, 03:13 PM

Oct 2015

of your life.
Ex: If you would get $1000/mo at full SS age, you would get $800/mo from age 62 until death.
If you would get $2000/mo at full SS, you would get $1600/mo from age 62 until death.

Average life expectancy is now in late 70s for men and early 80s for women, which means at least half of those people live well beyond the average.

Believe me, speaking as a senior well past retirement age, you don't want to be 75, 80, or 85 with no physical (not to mention mental) ability to earn income and scrounging and worrying about basic expenses.

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I'm one of the poverty stricken... [View all] malokvale77 Sep 2015 OP

1 month? Erich Bloodaxe BSN Sep 2015 #1

I cannot afford it either. malokvale77 Sep 2015 #3

I don't know if you're referring to age 62 retirement or 66/67ish, No Vested Interest Oct 2015 #21

i've always AmericanHare Oct 2015 #22

Taking Social Security at 62 reduces your payment 20%/month for the rest No Vested Interest Oct 2015 #24

while true AmericanHare Oct 2015 #26

I hope all goes well for you. No Vested Interest Oct 2015 #30

I took mine at 62. panader0 Oct 2015 #34

I took mine at 62 also. I turned 62 last November and did not LibDemAlways Oct 2015 #38

Besides that, working is slowing killing us, at 62 I took my SS bahrbearian Oct 2015 #33

Early retirement. malokvale77 Oct 2015 #35

Is your ex still alive? hedda_foil Oct 2015 #61

No still alive and kickin (barely), LOL. malokvale77 Oct 2015 #62

You can earn up to $14,000 a year and it won't affect your SS. panader0 Oct 2015 #36

Yes I know. malokvale77 Oct 2015 #59

Oh my gosh... SoapBox Sep 2015 #2

Yes... malokvale77 Sep 2015 #4

There are. I know. 840high Oct 2015 #15

I know property taxes in Texas are high because of no sales tax. Are you aware of merrily Sep 2015 #5

We have sales tax (up to 8.25% depending on the local rate). malokvale77 Sep 2015 #6

Please do yourself a favor zalinda Oct 2015 #14

Homeowners insurance in Texas is really high. malokvale77 Oct 2015 #39

I assume you also looked into a real estate tax break for being a certain age? merrily Oct 2015 #17

Dallas does have a little tax break for seniors. malokvale77 Oct 2015 #40

I'm there with ya malokvale77 wendylaroux Sep 2015 #7

Indeed malokvale77 Oct 2015 #41

Thank you for spelling it out Hydra Sep 2015 #8

neolibs and 3wayers are about financialization, so their work is just off gambling MisterP Sep 2015 #9

I know I am one of millions... malokvale77 Oct 2015 #42

You are the heart of the party and DU. I'm glad to be in your company. ancianita Sep 2015 #10

Oh dear, I have something in my eye. malokvale77 Oct 2015 #43

For what it's worth, SheilaT Sep 2015 #11

Thank you SheilaT malokvale77 Oct 2015 #44

Loads of hugs to you. madfloridian Sep 2015 #12

Especially sweet coming from you dear lady. malokvale77 Oct 2015 #45

I'm in a similar situation in that I also own an old car. Ed Suspicious Sep 2015 #13

Oh wow... malokvale77 Oct 2015 #46

malokvale77 aspirant Oct 2015 #16

Yes, my heart and soul are mine. malokvale77 Oct 2015 #47

We can do this. Paka Oct 2015 #18

We damned sure can do this. malokvale77 Oct 2015 #48

Kicked and recommended to the Max! Enthusiast Oct 2015 #19

Just wow malokvale77 Oct 2015 #49

kudos to you! Rose77 Oct 2015 #20

Something keeps getting in my eye. malokvale77 Oct 2015 #50

I'm with you. I don't think I'll ever be able to retire. iscooterliberally Oct 2015 #23

Hopefully, iscooterliberally... malokvale77 Oct 2015 #51

We need to make it crystal clear that it's immoral to support the current status quo that rhett o rick Oct 2015 #25

The status quo is immoral. malokvale77 Oct 2015 #52

I feel like this is the election that will make or break our democracy. nm rhett o rick Oct 2015 #60

Best vibes to Faux pas Oct 2015 #27

I feel the vibes. malokvale77 Oct 2015 #53

this is exactly how others want to portray sanders supporters restorefreedom Oct 2015 #28

I see it as projection. malokvale77 Oct 2015 #54

K&R for the salt of the earth. n/t Scruffy1 Oct 2015 #29

Thank you Scruffy1. nt malokvale77 Oct 2015 #55

WooHoo! To those of us who live on the financial edge! Go Bernie! Dont call me Shirley Oct 2015 #31

WooHoo! malokvale77 Oct 2015 #56

life at the median is scarily close to the poverty stricken carolinayellowdog Oct 2015 #32

I was once the median. malokvale77 Oct 2015 #57

Reaping the rewards of Reagan here too. Cobalt Violet Oct 2015 #37

Yup malokvale77 Oct 2015 #58

I so hear you. artislife Oct 2015 #63

I imagine we have a lot in common... malokvale77 Oct 2015 #64

We cast our ballots for Bernie artislife Oct 2015 #65

To all of us. nt malokvale77 Oct 2015 #66