Social security benefits question

[westksbowhunter]

Nope…turn 60 in 6 weeks. I worked for a large company for 33 years, that’s my monthly premium after I get a $600 monthly subsidy from the company for my years of service. Me and my wife are covered. Went from $1450, then $1900, now $2600. And no more dental coverage. I’ll go from my current 9 teeth to 3-4 in just a few years!

When I retired in May, I took a job teaching at a private school the next day 4 days a week. So did my wife only she teaches 5 days. So we get our KPERS retirement, plus the salary of our new jobs, which also includes our health insurance at no cost. They also pay for dental and vision. My plan is to continue double dipping til 65 then draw Social Security. Who knows, I may triple dip.

 

[Alaskan swamp collies]

BB sorry for your recent losses. As for advice, good advice can come from anywhere as can bad advice. One day probably 25 or 30 years ago me, a tile contractor and a plumbing contractor and electrical contractor had lunch together in a custom home we were building. SS came up and we ran the numbers on some scrap wood. We determined early SS was a loser and if we took SS at full retirement instead of waiting till 70 we’d be ahead till 82 and we could use the money better while we were healthier. Seems to have worked out well, we all still do the odd job, but financially we’re not suffering. About that time we also decided this one international stock fund was worth having and we hit that nail soundly.

 

[benelli-banger]

Part of my thinking is using SS to supplant LTC insurance which I don’t have; my mom did, it paid out about 600k over past 7.5 years, which kept her from going broke…she probably would have been ok in retrospect, there wouldn’t have been gifting annually from her estate. In the last year or two, on a combined basis, my parents’ bills were over $26,000/monthly. Glad your choices have worked for you. If markets were to tank dramatically 2,3 years prior to FRA, I could see taking it then if I was gonna use SS for living expenses, and back off on portfolio draw. I keep a healthy % in cash/fixed assets, to provide for several years of income in the event of another 2008-2009 scenario…or 2000-2003…it’ll happen, just a matter of when. Anyhow, thx for kind remarks, stay warm!!