Just and FYI every ones SS amounts will be different based on your top 35 years of actual income used for SS deductions.See the link below for a way to see your total income based on your actual SS annual statement.
for this to work you must have a copy of your SS statement
http://www.bedrockcapital.com/ssanalyze/
If you don't have one you can get an account on line at
https://www.ssa.gov/myaccount/
Gary
On 3/11/2017 10:58 AM, Steve wereherendc@yahoo.com [TSP_Strategy] wrote:
I would add another factor. I would think that you're more likely to want or need or can use the money when you're relatively younger (70's and 80's) than later in your 90's.
"The maximum benefit depends on the age you retire. For example, if you retire at full retirement age in 2017, your maximum benefit would be $2,687. However, if you retire at age 62 in 2017, your maximum benefit would be $2,153. If you retire at age 70 in 2017, your maximum benefit would be $3,538."
If you run the numers in a graph, in a spreadsheet, however, it takes 17-20 years to make up the avoided income, which you could have spent, invested, saved, whatever, while you were younger, healthier or even alive, not dead.What good is getting $3,538/month and forgoing ~$200,000 the first 8 years UNLESS you are healthy?the crossover with the max is age --->82.5<---here are the actual numbers from the SocSec page of max monthy payouts, ie put them in a spreadsheet, multiply $2,153 x 120 or $3,538 x12 that is what you get from SocSec by age 71. (end of 10 years,)It takes you to age 82.5 to break even. as always numbers are different for individuals, but you SHOULD pencil this out first, and this is best caseSO, Do You Feel Lucky, and healthy and have long lived relatives and parents and expect to long life?You COULD invest using a DCA (dollar cost average) the $2,153. It's all individual choices
62 2153 63 2168 64 2344 65 2523 66 2687 67 2902 68 3117 69 3332 70 3538
from Social Security web page
From: "Gary tweet_pa@yahoo.com [TSP_Strategy]" <TSP_Strategy@yahoogroups.com>
To: TSP_Strategy@yahoogroups.com
Sent: Saturday, March 11, 2017 9:57 AM
Subject: Re: [TSP_Strategy] Re: Buy a House with Retirement Savings?
The Max you can get from SS is $2,639 currentlysee this link
On 3/11/2017 8:42 AM, vionette james visle3@yahoo.com [TSP_Strategy] wrote:
Interesting ararticle about the G fund in relation to the debt ceiling.http://federalnewsradio.com/budget/2017/03/tapping-g-fund-one-six-options-treasury-debt-limit-nears/
Do you realize, if you are eligible for the max Social security payments and start collecting $2,153 at age 62 versus $3,538 at age 70at age 71 (assuming birthdate of 1/1/19xx)if you collect from age 62 you will have gotten $232,524 vs $42,456 at end of age 70ANDat age 81$516,720 vs $509,472SO you have to live to at least 81, and healthy enough to do so to enjoy if you wait until 70when you hit 90, if you do, will you be bedridden or healthy or dead?because at 90its(age)62 $749,244 vs (age) 70 $891,576you forgo somewhere around $200,000 if you wait
SO, Do You Feel Lucky (and healthy) if so, wait
"enjoy yourself, it's later than you think, enjoy yourself, while you're still in the pink"
my "crossover was about 17 years, if you have cardiac problems, males in you genetic line die either at 40 or 82,do you enjoy life or squirrel away money to be inherited?want to visit Kauai, T'au, new zealand, europe..........
From: "john.f.meyer3@att.net [TSP_Strategy]" <TSP_Strategy@yahoogroups.com>
To: TSP_Strategy@yahoogroups.com
Sent: Friday, March 10, 2017 12:22 PM
Subject: [TSP_Strategy] Re: Buy a House with Retirement Savings?
I'm in a similar situation. MRD reached last October with plans to retire Dec 2017, I just closed on a combined construction/perm loan so I would not have to deal with working/retirement status issues if the construction process gets delayed. I'll be retiring with FERS 33 yrs and enough in TSP with monthly draws to cover living, lifestyle and new home mortgage costs, deferring social security payments until age 70 when I lower my TSP monthly withdrawal amount.
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Posted by: Gary <tweet_pa@yahoo.com>
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Neither the TSP Strategy group, nor individual members, are licensed or authorized to provide investment advice. Any statements made herein merely reflect the personal opinions of the individual group member. Please make your own investment decisions based upon your personal circumstances.
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