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62 go for it. Best thing I ever did.

Less than 1% live to their mid 90s.

Why is one emoji a doctor and the other blue collar? LOL At least he mixed up the races.

Where did you come up with those life expectancy? 90 and 92? Crazy

I’m an RN here in California for a county hospital and am eligibility for pension at 5 years. However my friend is an RN for Stanford. They get paid about $20~ more an hour ($100/hour) but have no pension. I was thinking about going there for higher pay

Dad retired at full, died age 88 he made $64, 000 over break even. 6,400 a year. Not a small amount. It really helped in his last couble years of dementia. Allowed my mom to have help so dad could die at home. Moms healthey at 86 and collecting dads benefits now. So dads payout continues. Worked for them. We waited till 66-4 collecting $74,000 a year presently. I recieve almost max benefits, for my age, which my wife will get when I die.

While the money aspect is incredibly important when deciding when to retire, I feel that there is another key aspect. The idea of continuing to move, process, think, collaborate. I love my profession. It makes me appreciate also the time I have off. As I near retirement, all I can think of are the long vacations I have taken in the past. Three weeks in a row of travel, golf, fishing sounds amazing but it does get old (for me anyway). I often find myself wanting that interaction and challenge of my job. Yes, one day I’ll be ready to hang it up, but no time soon. I worked so hard to get all this experience and knowledge, I have lots to share. I fully believe in the premise, use it or lose it. The great thing for anyone considering this decision is the fact that you have the opportunity to make it. There are so many that will never get to make this decision, appreciate and take pride in your accomplishment. If you are here deciding what to do…you did or are doing well!

My uncle worked all his life and did it under the table. He died of a heart attack at 55. He made the right choice...lol.

My advice is take it at 65.

For some reason, Pete and Andy have the same salary. But in reality employees who work in a no pension environment usually get significantly higher salaries. So, it is up to them to save and invest their excessive salary or waste it on fancy cars, expensive housing, travelling etc. I like my higher salary better than I would like a promise to pay pension in the future because my money are invested and their promises are just words, they may or may not deliver on their promises, their pension may turn out to be abysmally low etc.

Why would anyone in their right mind give up 16 years of SS just to break even? If that protects their stock investments, for every $1 they get in SS that is $1 more that gets that CAGR of 7%. This would push that 16 years out more.

i retired at 35. i've been traveling the world on 300.00 a month..see how easy it is to lie lol..

Who wins? Wins what???? Whoever lives longest? At those ages the money is pretty much worthless

I want to draw SS benefits early at 60, I don't have any significant savings, I can live for free on a friends acreage . I'm not going to make it till 65, I would like to spend time for myself and my love ones. Anyone in this situation or similar?

Just a waste of time. Just rebalance annually. If stocks are down you are not selling stocks you are buying them.

I plan to take at 62. I think a lot of people are enamored by the bigger jackpot of they wait. The biggest consideration is do you have other supplemental income and what is your health history. What are the stats that people survive the break even point? Sure it’s going to be all across the board but the point is to really take it into consideration. If I make it to the break even point it’s a win win because I don’t think I will make it that long and if I did then I’m on Gods grace either way win win.

Just go to The Market Place I paid $9.90 a month for decent health insurance from 63 to 65 No big deal easy peasy nice and easy Once you turn 65 you automatically get medicare parts A and B then all you have to do is sign up for part D. I got part D for $57 a month I think it is nothing really You don't need part C that is a rip gyp off racquet that insurance companies push I don't understand why people think getting medicare is so difficult to understand and get The hardest part of the process was waiting 35 minutes on hold to tell what medicare part D plan I wanted but hey I'm retired with nothing but time 😊

I genuinely mean it when I express my stress and concern regarding the market crash and high inflation, particularly in relation to my retirement. I have been experiencing losses for quite some time, and while some may argue that crises can present opportunities, I am feeling overwhelmed. However, I understand that investing is a long-term endeavor, and it is crucial to maintain focus on the bigger picture and the long run.....

investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good?,....

You work your whole life and pay taxes,... then when you retire you still get hit with taxes on what you've already been taxed on. We, the people are nothing but a free ride for all the corrupt a holes within Government.

I'll be dead by then anyway. I've saved my entire life. I retired 16 years ago because I was burnt out by manager stupidity, I was not allowed to create anymore and the whole thing seem pointless. I fell like a cow being milked but not fed. The business collapsed later anyway. Now I'm 74 1/2, don't spend my SSI , but invest it in SPY. I live on my pension annuity. I doubt I'll ever spend any SPY money. Maybe my kids and grandchildren will.They are welcome to it. Or the whole system will crash and there won't be any SPY or SSI money. I've always thought it was better to have at least one backup plan rather than following the lemmings going over the cliff. I have two btw.

Lifestyle and geography plays a huge factor I mean you can take your money overseas and live comfortably. If you’re fine living a modest minimalist lifestyle you can stretch your money six ways to Sunday. I’m 46 single no kids all by choice and plan to retire around 56 with 2mil. I’m a minimalist and don’t need to consume much and have basic hobbies like working out and reading books. It’s also good to know your life expectancy yea no one knows when your time is up but you can have a general sense based your past history, genetics, demographics etc. personally I’m not waiting until 65 and only have a few yrs left to enjoy. F.I.R.E financially independent retire early.

Its a no brainer: 62!!!! If 70 u missed 8 yrs of payments 96 to be exact. Would take 11 yrs to break even. So at 81 youd be in the black lol

92 and 94? This guy sounds like a Gov. SS HACK People done live to 92 n 94. That is not the life statistics on charts. He is totally wrong.

i FINALLY found the video that explains my situation -- having a rolled over IRA from old jobs

There is no one size fits all on this subject. Until you reach full retirement age, you are virtually unable to work without having it reduce your monthly benefit. I waited until 66.5 to start collecting, meantime my earning counted to increase my monthly benefit. Now at 71+ my I have already broken even on the total payout than if I would have collected at 62 and now I'm money ahead !

My son and I agree that $250k is that level of "life changing" money that counts as sudden wealth and requires a plan and professional guidance.

What if chef Steve keeps working until 70 because he loves his job?

Just crunch the numbers and you will see to start at 62. Remember, there's additional value in being free. If you delay, you never catch up.

This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.

Im 67. The SS office told me that while still working only 50% of SS would be taxed not 85%. Whats up?

40 full years of work should be the mark. Not age. Work from 16yo. Full retirement should be 56. Too many die in their early 60’s.

I asked my 401K about this. They say I can only do 1 withdraw request after separation from my employment. The reminder balance has to be roll-over to an IRA. which will not allow the 55 exception. Does that sound right? because I wanted to do periodic withdraw on the 401k acct. after 55 & separation from my job.

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

I inherited a Roth IRA that was held longer than 5 years by the original owner. Some articles say only the original Roth IRA account has to have been 5 years or older for withdrawals by a beneficiary to be tax free. But some seem to indicate the Inherited Roth IRA account the beneficiary opens to hold the money has to be 5 years old. Do I have to pay any taxes on distributions from the Inherited Roth IRA account holding the money or do I have to wait 5 years myself also? Why do you think my brokerage used a "T" on box 7 for the 1099-R in spite of the original account being older than 5 years?

I've been watching this for awhile now.... the COLAS don't really help much. Waiting for 3 years to apply at age 70 to get an increase of about 8% for each of those 3 years, is sorta like the COLA that we got last year (which was 8.5%). So how long did that 8.5 % COLA last? For me, it was about 7 or 8 months. After that I was back where I started a year earlier. This year's COLA of 3.2%, pretty much got eaten up in about 2 months. So I think they are 100% correct in saying to wait till age 70. But, by then, the cost of living is likely to increase to have eaten up most of that 24% increase. If you're lucky, you'll get to enjoy a year at age 70.... plenty of time to look for that part time job to start at age 71! Great, because it looks like you'll be working that part time job for the rest of your life! JUST to stay ahead of inflation. God help us if we get sick! Save, save save! Do your 401Ks, IRAs, and ROTH IRAs.... It could be the only thing that'll save your life in your later ("senior") years!

Fuck these commercials

I have a sibling that is 75, receives a monthly amount ( not very much) but she doesn't bother to pay any taxes. What seniors are exempt? I'm trying to figure out if she just doesn't bother or is she exempt because of her level of income. I guess I thought everyone had to submit a tax return here in California. I know another person who prefers to work under the table for cash and does not bother with paying taxes at all. Both these people live in California and are U.S. citizens. I'm a bit confused. Any insight is helpful.

Did he say life expectancy of 92 and 94? What the hell?

A long retirement to 92 is a joke. Reality in the US average life span is 79. This 70 year old ssi income is a conspiracy to pay out less to 70 year olds. On average they will die before pulling ahead of someone who collects at 62. I started collecting ssi at 62. I’m 64 and have had over $300 in cost of living increases. At 70 my ssi payments will be $2800 to $3000. Even though I took 62 ssi payments. My income average is 98%, pension, ssi and IRA income. My wife has all three also. If your not working collect, if you love to work don’t collect. If you die while working and not collect the ones that will complain is your family. They worked their whole lives and what a shame never collected. But you won’t care, you’re dead.

If we continue to vote Democrat we will do what Bob Egar Disney Whack is doing since Elon sent him there.

this is as laughable as trying to predict the weather.

It is rare to make it to 90 years old people!!!

Taking mine at 62!!!!

That's just 7% more so that's really not much!!!

Plus the older you get the sicker your going to get. That just life rule!!!

I going to apply at 62. I might die before 67 so they don't make sense to wait until 67!!!

People are facing a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

What's the point of waiting? The older you get, the less active you'll be! When you hit 70, you'll be spending your time in doctors' waiting rooms! What's the extra money good for? Use the money while younger and have fun!

I have several friends and relatives who never made it to retirement due to smoking, drinking, accidents, etc. I was shocked that so many died in their 50’s. I just lost another friend last year due to a heart attack. He looked so trim and healthy. He had just been laid off from a high-paying VP position that he had held for over ten years. I wondered if the stress from losing his job contributed to his heart attack?