My truck is a 2008. Wife’s car is a 2014. No plans for swapping them out. I paid off the truck in 2010 but kept sending the payment to a saving account. The balance has grown slowly because, after the truck was paid off, I pay our insurance bills from that account. About 6 years ago I moved about $12K into a brokerage account that is now worth $42K. That’s maybe about a hummingbird size nest egg but better than a goose egg!
My wife wants to collect SS as soon as she becomes eligible next year. I think she should hold off. Her money, her choice. I intend to wait until mine maxes out. It won’t be a lot either way. Unless something has changed, 20 years of my payments into it cannot be collected from. That pretty much just leaves maybe 15 or so years of okay money from being self employed and other low paying employment to collect from.
I'm with your wife. If you wait, die at 70.5 you didn't get much. If you claim at 62 and die at 70.5, you got a few good years in.
I'm claiming at 62. Wife has 6 years to go with a job and we have essentially been living and saving off her money last few years. She will wait until 70, her family history puts her living until mid to late 80s. Mine, maybe 72. so i'll have 10 years, we have the cash to live off of my ssi until she claims at 70.
My accountant said similar, you don't know how long you will live so we should claim SS as soon as we could. That said, he also knew we didn't need it, but if another needs the extra income to not be scrimping by, waiting may be a better option
