Indi wrote:
If you can do it, as you outlined above, then by all means do it.
I retired in 2010 (NYC teacher) and it was the best thing I ever did.
I'm not as financially secure as you, but we're not hurting.
You're too young for Social Security, but the theory is hold out until you're at least minimum/maximum benefits. SS says for me maximum benefits was at 66 &1/2. You may have to wait a little longer. The "absolute maximum" benefit comes when you're 70 I think.
Now, for the second part of the theory. If you have longevity in your family; parents, grandparents living into their 80's and 90's, take SS when you reach your maximum (not 70, but 66 $ 1/2). You will collect more benefits over your remaining lifetime.
As to busy/not busy, as someone pointed out, I'm busier now than I was when I was working. Gotta have those hobbies.
If you can do it, as you outlined above, then by a... (
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It can take 18 to 20 years to make up the dolar difference by waiting till age 66, versus taking SS immediately at age 62 + 1 month....at least in many cases, including mine. Do the math first, which means a cost analpysis between present SS cash flows at 62 for 4 years, but at 75%, vs slightly more at 66. The $ gain is tremendous by taking it at 62 in most times, and remains so for about 20 years. Waiting can be a myth. Math done right doesn't lie. BTW, the person who helped me determine this fact was the SS office.