2 upvotes, 2 direct replies (showing 2)
View submission: Living with no Retirement money
If I can ask how much did you get by waiting longer?
Comment by birddit at 06/02/2025 at 17:50 UTC
1 upvotes, 0 direct replies
how much did you get by waiting longer?
Monthly amount to take SS early at 62=$1327 per month. Calculated amount at 68 and 3 months $2150. Reality is a bit different due to annual cost of living adjustments that would have to be added to each figure.
SS has determined that whether you retire at 62 or wait until 70 the total amount you receive by age 80 will be the same. Going forward from 80 though if you had retired at 62 you would continue to receive those small checks while those who waited will continue to receive those larger checks. It's my understanding that the vast majority of people take the money at 62.
Comment by UnKossef at 06/02/2025 at 21:00 UTC
1 upvotes, 0 direct replies
ssa.gov has a benefits calculator so you can see your own benefits