retirement @62

[rsorg]

hi, thinking about retiring in october this year at 62, i have been debating until 65 ,but health insurance is my main issue, watching videos on youtube especially sarasota tim any thoughts would be greatly appreciated,roger

[DragCat]

Correct me if I'm wrong, but you can't sign up for medicare till 65. 

That being said I started getting my social security at 63 

[cny first gen 71]

Yes 65 for Medicare you can collect ss at 62. If you have health insurance from where you work that will continue then go for it but if not you'll need to think about that. The older you get there dr visits there seem to be. Good luck I sure hope your able to.

[Rob Peters]

Roger, if insurance is your main concern I would wait until you are Medicare eligible.

On another note you really need to check your Private Messages from me.

rob

[Marks71]

Another thing to consider. Are you married? Is your spouse under your plan, or is she working and has her own plan you could fall under? I retired at my ss official retirement age of 66+2 months. My wife works part time for the school district so she’s not  eligible for medical. She’s always been on my policy. When I retired, she was 64, so we had to pay her medical for a year until she could get her Medicare. Steve’s right, seems I’ve been to the doctor more times in the last 3 years than during my entire life.

[Glen]

😁😁

8 hours ago, DragCat said:

Correct me if I'm wrong, but you can't sign up for medicare till 65. 

That being said I started getting my social security at 63 

Is the SS enough to cover adult diapers?…

 

…Asking for a friend named Joe T. because I'll be retiring soon...
 

Side note:  I feel bad for you guys that have to wait until 60, 62, 65 etc to be retirement eligible. I’d be on suicide watch if I had to go that long. 

Edited August 12, 2024 by jft69z
needed a correction-JT :)

[Chris shipley]

Older we get unfortunately things happen. Insurance does come in handy. Good luck to you what ever your decision is!!!!

[Leghome]

I  retired at 51. GM health insurance until I turned 65. Social Security was mandatory at 62

[DragCat]

4 hours ago, Glen said:

😁😁

Is the SS enough to cover adult diapers?…

 

…Asking for a friend named Joe T. because I'll be retiring soon...
 

Side note:  I feel bad for you guys that have to wait until 60, 62, 65 etc to be retirement eligible. I’d be on suicide watch if I had to go that long. 

Since I don't know what was "originally" said 🤣 I'll just consider the source 🤣

My original comments were focused on healthcare, I'm self employed so it is what it is. People comment on taking SS too early, at 63 I lose $50 a month versus waiting till 64, tomorrow is promised to nobody! I don't know anybody that has a date stamp on their body. And its MY damn money and I want it back 🤣

My SS money bought me a 125 Yamaha this year to cruise the pasture fence lines 🤣 I'm NOT relying on the gov't to provide for My golden years 😡

[willie]

Mark in NY you have to give them back $1 for every $2 you make over i think $22K until you hit full retirement age. Then you can make as much as you want and give them nothing back!!

[Marks71]

Because it’s federal, I think it’s the same everywhere.

[John S]

I retired at age 60. Took Social Security the minute I turned 62. If I had known it was gonna be this good I would have done it it years ago. You have to do the math to find out what your break even point is in regards to Social Security. You always get nervous about the unknown you’re starting a new phase in your life. You will adjust and you will probably feel the same way I do. Health insurance is always the elephant in the room. If you go on the exchanges, you have to be careful to watch your income as it is income adjusted.

[Glen]

The power of the moderator strikes again🤣😂

Back on point… a now dead POS politician by the name of Dan Rostenkowski (hopefully currently rotting in Hell) worked to pass legislation limiting to 40% the SS benefits payable to civil servants such as myself as I’ll be drawing a pension when I pull the pin.

This #%>@! took the lead on getting this legislation passed as he thought it wasn’t fair that some of us (myself included) would be drawing both a pension and SS. Felt our pension was “generous enough”. Never mind the fact that I have contributed 9% of my salary to my pension and have my 40 quarters (and then some) as I’ve worked more side jobs over the last 3 decades than I can remember. 

A small consolation was that good Ol’ Dan - like MANY Illinois/Chicago politicians before and after him - went to prison for 17 months for mail fraud but was ultimately pardoned by Bill “This Cigar Tastes Good” Clinton. 

But I agree with you Mark… I won’t rely on that government cheddar to fund/subsidize my retirement, nor do I believe the City pension system, as it now exists, is sustainable for much longer.  It’s a Ponzi Scheme apt to crash and burn at any time.  Which is why I made my money the old fashioned way … I married it 🤣😂.  Just don’t tell Amy this… cool???

 

[DragCat]

8 hours ago, John S said:

You have to do the math to find out what your break even point is in regards to Social Security.

This is probably the best bottom line comment , some of us older people learned math before it was a bad thing. 

The light bulb went off in my brain when Eastern Airlines went under.......the employee's lost EVERYTHING. As Glen so gracefully articulated, those kind of horror stories are more the norm than the exception. 

And now the secret is out, just like with the Imaginary Monte, borrowed/photoshopped pictures and rented for weekends, Glens Montes are actually Amy's Montes 🤣

 

[Dtret]

2 hours ago, DragCat said:

This is probably the best bottom line comment , some of us older people learned math before it was a bad thing. 

The light bulb went off in my brain when Eastern Airlines went under.......the employee's lost EVERYTHING. As Glen so gracefully articulated, those kind of horror stories are more the norm than the exception. 

And now the secret is out, just like with the Imaginary Monte, borrowed/photoshopped pictures and rented for weekends, Glens Montes are actually Amy's Montes 🤣

 

Amy is smarter with her money than that. She would have never bought clones.