Are managers invincible?

Discussion in 'UPS Union Issues' started by TheFearlessBunny, Mar 3, 2015.

  1. moreluck

    moreluck golden ticket member

    This from the guy who says to wait 'til you're 65 to collect S.S.. If you take it as early as possible (62), you will be 90 for the break even. Dumbest advice I ever heard.

    Take it a.s.a.p. because there is no guarantee you will live to see 65.
     
  2. UpstateNYUPSer

    UpstateNYUPSer Well-Known Member

    Please show me where I said that.

    BTW, it is best to wait until you are at least 67 before you start drawing SS.
     
  3. moreluck

    moreluck golden ticket member

    You mentioned that your financial advisor told you that.

    You can wait 'til you are 67, but who knows they will live to 67....do you ?? You'll miss 5 years of $$$ if you die before you turn 67.
    I only have the posts where you call me stupid and your aversion to the union......I deleted all the others I had saved.
     
  4. PT Car Washer

    PT Car Washer Well-Known Member

    If I die before 67 I will not be missing anything. If I live to be 90 the extra monthly pay out may well be worth it. One size does not fit all.
     
  5. moreluck

    moreluck golden ticket member

    look up the average life span of the American male.......actuarial tables can be your friend.
     
  6. PT Car Washer

    PT Car Washer Well-Known Member

    I agree completely it may make good business sense to take social security at an earlier age (maybe) I still can't take it with me so what matters?
     
  7. moreluck

    moreluck golden ticket member

    It matters how you live in your later years.....unless you just plan to be a homeless beach bum. People do have to eat and wear clothes. But I guess begging is in your plans.
     
  8. UpstateNYUPSer

    UpstateNYUPSer Well-Known Member

    It does not make good business sense to take SS at an earlier age.
     
  9. ZQXC

    ZQXC Guest

    "So, Do you feel lucky? Well do you punk?"
     
  10. oldngray

    oldngray nowhere special

    The break even point on whether it is better to take Social Security at 62 or wait until full retirement age is 78. It is a question of how long you think you will live plus factor in how much those wasted years of your life spent working when you could be doing something else while your were still younger and presumably healthier.
     
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  11. 70. Is the maximum age that benefits increase.
     
  12. oldngray

    oldngray nowhere special

    Yes, but I was referring to 62 vs normal full retirement age which was 65 but is increasing every year.
     
  13. I think what you are trying to say . 78 is the break even point, if you took it early. Instead of waiting to age 70.
     
  14. Shifting Contents

    Shifting Contents Most Help Needed

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    Then what's this language here about part time job selection?
     
  15. oldngray

    oldngray nowhere special

    You get 8% more per year if you wait.
     
  16. It also depends on tour other income. If you plan on taking it at age 62. Work a part time job and collect a pension. They will tax your social security.
     
  17. ZQXC

    ZQXC Guest




    I ain't working no stinkin' part time job for the man when I leave this gig.
     
  18. What I'm trying to say. Their is a different correct answer for different people.
     
  19. olroadbeech

    olroadbeech Happy Verified UPSer

    you can also take the money at 62 and invest it till your max age and then pay back all the principle to SS and then reapply and get the full benefit .

    u can also apply for bennies and deny payment til the later date so that your non working spouse can apply and get a SS payment til you qualify for max payment.

    SS doesn dot tell you these things unless you ask the right questions.

    ref. from one of my books on social security.
     
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