Post by Admin on Nov 12, 2022 17:34:11 GMT -5
Most articles about SS usually don't discuss the following:
1) Retirees who have enough VS the others. The ones who have enough can do whatever and must look at the rest
2) There is a good chance that if someone takes SS prior to age 65 + have other income, he/she will pay higher ACA premiums.
Real example: if your income is 35K, you get $836 tax credit at age 62 in my state. If you take SS and your income is $60K, you get only $537 tax credit. This means you are losing about $300 monthly x 12 = $3600.
3) SS is invested, not spent because you have enough. This means you make money in the market and it's not invested in MM/CD
The above is why I started taking SS at age 64 +11 months. I filled 3+ months in advance, it took SS that long to set it up. SS also pays for my Medicare, another nice option. I can also pay taxes from SS. 65 is a great compromise, for the following...
The rest are all unknown predictions:
1) Are you going to die too early or live too long?
2) will SS pay the same or may reduce the amount?
1) Retirees who have enough VS the others. The ones who have enough can do whatever and must look at the rest
2) There is a good chance that if someone takes SS prior to age 65 + have other income, he/she will pay higher ACA premiums.
Real example: if your income is 35K, you get $836 tax credit at age 62 in my state. If you take SS and your income is $60K, you get only $537 tax credit. This means you are losing about $300 monthly x 12 = $3600.
3) SS is invested, not spent because you have enough. This means you make money in the market and it's not invested in MM/CD
The above is why I started taking SS at age 64 +11 months. I filled 3+ months in advance, it took SS that long to set it up. SS also pays for my Medicare, another nice option. I can also pay taxes from SS. 65 is a great compromise, for the following...
The rest are all unknown predictions:
1) Are you going to die too early or live too long?
2) will SS pay the same or may reduce the amount?