On Sunday, May 4, 2014 9:28:07 PM UTC-5, Greg Guarino wrote:
My old age delay excuse is I'm always in the planning stage, for every project. Then, once I get started, I stumble onto another improvement idea/aspect/plan, so I end up altering the design as I build.
As someone, here, posted long ago, "Project Management":
I was reading this morning about a man that was celebrating his 111th
birthday. Born in 1903.
Asked his secret to a long life the list included the usual, no alcohol,
stopped smoking, etc. The one I found funny and at the top of the list
was NO Kids. ;~)
Then I got to wondering and putting things into perspective. He was a
year younger than I am now when I began first grade. So this guy was 35
when you were born Lew. My mother was a grand mother when she was 38 so
it would not be a stretch for him to possibly have been a grand father
when you were born and he is still ticking.
My wife can't find a job so has decided she'd rather be retired,
though doesn't have the income. ;-) She can take SS but we're trying
to decide whether it's better to wait. It's not like we need the
I "retired" in '06 at 54 but went back to work after 9 months. I like
what I do, though would rather not do so much of it. ;-) When we
moved to AL ('08), we decided we'd buy a house that we could pay off
it five years. It was a good plan, until I lost that job and had to
move again (and lost $25K on the house). We'll have the new house
paid off in a year (~30K left). We could have had that paid off, now,
but decided to buy a couple of cars (literally drove the wheels off my
truck and the 'stang was pretty ;).
Same here. We often finance at 0%. We rarely have more than one
going at a time and usually have it paid off in a couple of months. We
don't buy all that much with CCs, perhaps $1K. We should use them
On 5/6/2014 9:42 PM, email@example.com wrote:
Something to consider, we will probably take my SS at 62, IIRC I
determined that I have to live to 78 to benefit more by waiting until 65
vs 62. So basically it takes 16 years to end up getting more money. We
will probably wait to take my wife's SS as that will be a greater amount
and if either of us dies one of us gets the bigger amount of SS. So in
her case we may wait until she is 70.
Full retirement for me was 66 so I started taking the SS but still
working. It is a 14 year payback if I waited to 70 to collect.
Looking at family history, I'd not benefit.
I cut my work hours back but get the same salary and the SS sure makes
for a lot of "fun" money.
I've been studying the various strategies. The best I've seen is for
the higher earner (higher SS payments) to hang on as long as possible.
The other can retire early and collect their SS whenever. When the
higher earner turns 66 (in my case), he files to collect SS, then
suspends payments. The other can then get the spousal benefit which
is half of what the higher earner would make, minus the spouse's SS
payment (plus the payment the spouse was receiving before). Then at
70, the higher earner starts collecting, no matter what his income.
If she started collecting today, we wouldn't catch up until we were
76, but the payments when we need it would be substantially less
(~$700/mo). We're weighing the alternatives.
As you say, if either of us die, it wouldn't matter if she started now
or later. It is a big factor.
Last summer I had to buy a new truck (they wanted absurd money for
used and the wheels rusted off my Ranger). Until our other house sold
(contract for April-1), we were a little cash poor so financed the
truck for eight months, or so. The finance manager said that with our
credit, we could buy the whole damned lot (he later disclosed, though
he wasn't supposed to, that it was 840). He kept trying to sell us
another car. As we about to leave with the new truck, he said that
he'd just gotten a Mustang convertible in, in the same color. My wife
*liked* it. ;-)
Using other people's money (zero-percent financing) boosts credit
scores quite a bit. ...not that there is a difference between ~720
Because your spouse can then collect "spousal benefits", which can be
1/2 of yours (50% of yours minus 100% of hers). She can't claim it
until you've filed, though. As long as you suspend, then your benefit
continues to rise as you pay more in.
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