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Social Security-----When should you start drawing? (On Topic Only)
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<blockquote data-quote="oldngray" data-source="post: 3145785" data-attributes="member: 45230"><p>Are you trying to say that if you retire at 62 you think your amount will still get bumped up 8% every year until you reach normal retirement age? No it won't.</p><p></p><p>Basically if you retire early you will always get less per month. But you start drawing earlier so its a gamble as to how long you will live. The break even point between the 2 plans is about age 78, so if you think you will live longer you might be better off waiting longer to retire.</p></blockquote><p></p>
[QUOTE="oldngray, post: 3145785, member: 45230"] Are you trying to say that if you retire at 62 you think your amount will still get bumped up 8% every year until you reach normal retirement age? No it won't. Basically if you retire early you will always get less per month. But you start drawing earlier so its a gamble as to how long you will live. The break even point between the 2 plans is about age 78, so if you think you will live longer you might be better off waiting longer to retire. [/QUOTE]
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Social Security-----When should you start drawing? (On Topic Only)
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