What is the break even age for taking early social security?

    If I wait until age 67 to retire, at what age does my income break even if I had retired at 62?

    0  Views: 602 Answers: 1 Posted: 12 years ago

    1 Answer

    I'm not sure because it would depend on the amount you would receive, but I do know it would be quite a few years. I suggest a meeting with your local SS office as they would be able to tell you.
    You would have a certain maximum amount you could earn from working until you reach 67, so if you have a job that you don't "hate", I'd suggest waiting as long as possible.
    One problem we retired people have is "how long do we need to plan our finances for"...

    My husband is always researching. He says "90 to 95"
    I don't want to live that long but I sure don't know what I could do about it if I did. Do you?
    According to our finances he can live to be 86. (in the present economy. this is with 2% inflation.)
    It probably will be 3 1/2 and that means he'd run out of money sooner.
    We got hit very hard by the stock market. 9/05/11
    We are going through so much worry right now. I'm a mess.

    Flip ~~ Please tell me if I gave you a thumb down. There was some confusion. If there's a thumb down, I will fix it.

    @itsme: I don't think you gave me a thumb down, but even if you did don't worry about it because I know you wouldn't do it on purpose.
    As for our savings being used up before "checking out", there is nothing we can do about it. I just keep thinking there's a lot I would do before I die if I knew it was just going to be left to my heirs :o).

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