Reply to Feds: are you counting on FERS for retirement?

Forum Index » Money and Finances

Reply to "Feds: are you counting on FERS for retirement?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]definitely counting on pensions, not counting on full social security. In fact, as we approach social security eligibility age, wondering whether better to take earlier, for less money, than count on the full benefits at 67 or 70. [/quote]

if you've retired and aren't getting wage income, then my math is that it's better to just take whatever you're eligible for as soon as you've stopped working. the problem is that if you do continue to work, then your benefit is reduced even further (possibly to nothing) until you reach whatever "full retirement age" is 15 years in the future, or whatever. all depends on how long you think you're going to live past retirement. If all your grandparents made it to their late 90s, and you enjoy your job and aren't laid off, then probably wait. but if several died in their 60s or 70s, well... it would take until I was 75-77 for SS to pay out in larger premiums what I could earn in "reduced" premiums from age 62 on.

my rough assumption is that I'll die around 80, my spouse will have their own social security payment (won't need to leverage mine), and I'd rather have the money sooner if I've decided to stop working. Still on the fence whether i'll want to stop at 62 or 65 though. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics