Good for you - Do not be too hasty Posted: Dec 14th, 2019 - 10:43 am In Reply to: The math - KJ
I am glad you have this figured out. I hope you realize that if you draw benefits at 62 and continue working, that you are penalized $2 for every dollar you earn above an income threshold of about $17K, which for me is huge and a lot of lost income. I'm self supporting and want to keep working into retirement, so I'm trying to time it so that I won't get penalized, which doesn't start until full retirement age. I have full health insurance coverage at work and participate in a 401K with an employer match, so I'm trying to put off paying for Medicare and staying put for a while longer, even though I am really ready to call it quits. None of us have a crystal ball to know when we will get sick, get hit by a car, etc. but not planning for the future in the event that we will live into our 80s or 90s and enjoying the money now is probably not a good idea either, especially for those who are in single income households. I really don't care if I get slammed or criticized, I'm just sharing my experience.
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