Seeking Wisdom

Y

YesSir

New Member
Hello All...

I'm new here, and would like to seek some experiences regarding retirement that you wished you had done differently.

I am eligible for retirement (social security) in January (turning 66) and will continue to work my regular job (because I like it). I figured I could use the retirement money to pay down some debt while I continue to work. Can anyone offer some thoughts on possible options regarding actually filing for social security while still working? Perhaps there are no options but if there is anyone that has a similar situation I would like to hear your mistakes, if any.

If anyone has any clarifying questions... feel free to ask.

Thanks...

Larry
 

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Hi Larry, I'm no authority but I do know you may collect SSI at age 65 or collect more if you wait until 67 and still work. Just go to the SS website and sign up.

What I wish I did, was save more for retirement a long time ago, because it's pretty rough right now.

There are members here who know a lot more.
 
Butterfly... thanks for the reply. What do you mean by drop the ball on Medicare? I still work so my employer pays for most of my healthcare. My understanding is I am not penalized as long as I'm enrolled in an employer provided plan. Something else I should know?
 
Thanks for the reply jujube. If you could have a do-over on just one, what would it be?
 
The thing that comes with working and taking social security is that it may make your income higher with social security and therefore you may have to pay tax on the amount from social security depending on how much it increases your income. That is what happened in our household and it is a factor in how much you make a year.
 
Mine would be due to the management position I had and the sedentary nature of that. After retiring at 54 I quickly realized that if I wanted to enjoy a long retirement getting physically fit would have to be a priority. Doing that took a year. Being prepared is not only about finances, being healthy to enjoy your last years plays an equal role.
 
Now who doesn't enjoy giving all they can to uncle sam. They are such good stewards of our money ! NOT !!!
 
Thanks Night... I have always been very fortunate in the health area. No issues whatsoever... but that's today. No one knows what tomorrow holds, if we are lucky enough to have a tomorrow.
 

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