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From Great Post - To Congratulations

Posted: Jan 4th, 2023 - 8:32 am In Reply to: Taking the plunge - Congratulations to both of you

Sorry, I think I didn't convey something clearly. I am 67 and took SS retirement benefits at 62. Hubby and I both did that because the money was there and it was ours. You really don't ever make it up by waiting. Hubby chose to work part time within the amount of hours permitted before they take 50 cents for every dollar you make.

As to Medicare, we have an Advantage plan and that covers dental, vision, healthcare, and medications. Yes, some comes out of our monthly income, but it pays off. We took that at age 65.

We have been married for 47 years and have been saving all of our married lives, so we're all set. Well, long-term care could certainly cause a problem, but hopefully, we'll get through our older years before the savings wears out. We haven't had to dip into that fund yet. May have to when hubby retires completely, but he still likes to work. We also have the option of cutting back on our lifestyle which involves one 2-week vacay a year, and one or 2 long weekends.

I agree that people need to think ahead. If you would be subsisting on just SS and have no room for a hiccup, it's too soon to retire. I also recommend not retiring if you still have a mortgage that can't be backed up with cash. Even then, you would be dipping into retirement savings.

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