TravelTime
TUG Member
- Joined
- Mar 20, 2018
- Messages
- 8,092
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- 6,460
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- Location
- California
- Resorts Owned
- All Resale: MVC DPs, Marriott Ko Olina, Marriott Marbella, WKOVR-N, Four Seasons Aviara
Now it seems that both of us electing benefits at age 62 is better intuitively esp if he needs to wait 5 more years for FRA at 67 or 8 more years for the maximum benefit at 70. That is a long time extra to work. Since we are 3 years apart, I can elect at 62 and 3 years later he can at 62. At 65 (me) and 62 (him) we could both be collecting SS and like someone else said, if we do not need it, we can put it into another retirement account for the future. Under this scenario we both get reduced benefits for retiring at 62 but we get what we are supposed to get with no impact on the other person. So hypthetcilaly I might get $1200 at age 62 and he might get $1200 at age 62 since he takes early retirement also. If he waited until 70, he might get $2000 as I assumed in the other scenario but 8 years is a long time to wait for a hypothetical $800 more.
According to the SS life span calculator, I will live until age 85 or 88. He will live until age 81-86. Woking until 70 makes little sense to me!
According to the SS life span calculator, I will live until age 85 or 88. He will live until age 81-86. Woking until 70 makes little sense to me!
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