Date: Tue, 21 Feb 2006 10:05:56 -0600
From: "Cal" 
Subject: Re: When should I take Social Security???
Newsgroups: misc.invest.financial-plan
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"sandy"  wrote in message
news:1140482876.456341.201090@g44g2000cwa.googlegroups.com...
> I'd appreciate your opinion as to when I should start drawing Social
> Security.  I'm almost 62 (in good health) and have not worked enough to
> get it on my work record.  My husband is 15 years older than me and I
> will be getting it as his spouse.  He is in fair health (had a minor
> stroke but still cannot walk far and gets no exercise...and he has a
> few other medical problems).  If I start getting SS at age 62, I think
> I'll get around $300/month.  I'm not sure what happens when my husband
> dies...but I believe that I would then get widow's SS but I think it
> would be reduced if I started drawing SS early.  I'm guessing you guys
> know much more about this than I do.
>
> So....should I start drawing it at age 62 or wait until full retirement
> age of I think 66???  Hubby wants me to go ahead and get it now but I'm
> trying to do the numbers (so far unsuccessfully) to figure out which
> would be more advantageous.  We have enough savings that we won't be
> hurting if we wait.  Appreciate some opinions.
>
> Thanks!
>
> Sandy

Generaly speaking, you must live MORE than 12 years after starting to
receive
SS benfits, to suffer any "theoretical" loss on future income. Having said
that,
there are three other consideration to be examined.

1)IF you NEED the income, then take it now.

2) If YOUR Life expectancy is less than 15 years, take it now

3) IF you have the wherewithal to INVEST rather than spend JUST that
current income, the EXTRA earnings will take that theoretical out
to about 20 to 25 years