She retired last year. Only had a partial salary that year. She is only 61. I am still working under partial pay.
We have enough savings and 401k we could live off them for quite some time however it was my intention to start collecting whenever I hit 67 or I am forced into retirement.
She made more than me so it was our intention to hold off on collecting her SS until 70.
She is under the impression that not working those years between now and 70 will actually lessen the amount of money she will recieve because she is no longer putting money in.
I was under the impression those documents we downloaded from SS about amounts we will recieve if we start collecting at whatever ages will go up due to not collecting early.
I see her point that they say the calculated amounts are based on current earnings continuing to retirement age. I thought they are the minimum we would recieve if we hold off untill FRA or beyond whether we retire before then or not.
Does this make sense?
We have enough savings and 401k we could live off them for quite some time however it was my intention to start collecting whenever I hit 67 or I am forced into retirement.
She made more than me so it was our intention to hold off on collecting her SS until 70.
She is under the impression that not working those years between now and 70 will actually lessen the amount of money she will recieve because she is no longer putting money in.
I was under the impression those documents we downloaded from SS about amounts we will recieve if we start collecting at whatever ages will go up due to not collecting early.
I see her point that they say the calculated amounts are based on current earnings continuing to retirement age. I thought they are the minimum we would recieve if we hold off untill FRA or beyond whether we retire before then or not.
Does this make sense?
Statistics: Posted by Lemonaid56 — Tue Nov 19, 2024 7:30 pm — Replies 8 — Views 639