Collecting Social Security at 62 My Thoughts with PawPaw



hey y'all doing this puff ball again and I just had to get out here it stand in front of hundreds I will be picking cherry tomatoes over eight foot off the ground these plants have just took off I think but that's not what today's videos what today's video is about is when should I start drawing my social-security and I'm of the school of thought that we ain't promised to live tomorrow but I I believe we should plan for tomorrow and I realized that everybody's situation is different but with the I with a Social Security Department you or Social Security Administration whatever it is you can still work and draw Social Security and it's only after you reach a certain point do they take a dollar out of your Social Security for every two dollars you make you can look it up what I want to talk to you was just something real simple and I don't have charts to show you I'm just gonna superimpose on this video the numbers that I'm calling out okay now AARP has a real good chart so that instead of me giving away how much I'm going to be drawing personally they just use a chart and say okay if your full retirement benefits at age whether it be 65 66 66 and two months 62 four months right on up if your full retirement benefit is $1,000 a month but you choose to start taking it as early as you can get it which is age 62 you can you only draw seven hundred and twenty-five dollars okay thanks pretty good lick or do you so with that ACE for me personally when I reach full retirement age they'll be 66 years and 6 months 66 and a half from me so it will be 54 months beyond age 62 well they say figures don't lie but Liars can figure and here's the way I look at it if I draw seven hundred and twenty-five dollars a month for fifty four months then I'm gonna draw 39 thousand one hundred and fifty dollars but for I turned 66 okay now at age 66 and a half had I waited that my Social Security would be $1,000 a month okay but because it chose to take early only it's 725 for the rest of my life and people say well I would wait I would wait till I'd wait that four and a half years and not take nothing so that I can draw more when I'm 66 and a half well what if you don't live 66 and a half but let's just assume you do let's just assume you're gonna live to a ripe old age let's look at some numbers here at 66 and a half or full retirement age for me it's $1,000 a month versus the 725 that I started early which I intend to do now the difference in full retirement age a pension and the early pension is two hundred and seventy-five dollars a month okay so I hope that I'm able to educate a bunch of you out there and there buddy situation gonna be different but the numbers aren't going to change because this is based on on a percentage okay this is based on $1,000 just a base of thousand dollars if you gonna draw two thousand the numbers are gonna be different but it all works out the same percentage so if I'm sitting here and I say to myself I say self if if I wait until I'm 66 and a half his start drawing how long would it have been that I'd have made up for that 39,000 $150 you got scratch your head there a minute you guys say well the difference is $275 a month so if I took it thirty nine thousand one hundred and fifty dollars and I divide it by 275 I come to find out we're talking a hundred and forty two point three six months and if we divide that one hundred and forty two point three six months by twelve we come up the levan point eight six years right at twelve years so I'm gonna be 78 year old before would have made a difference follow me Oh Oh as mrs. sasquatch sometimes her but never seen so it won't be till I'm 78 year old that it makes a difference and when I started drawing so I'm of the school that Holt at 39,000 $150 before I turned 66 and a half I think I put better use of that money than the government can nothing to say you can't take that money pushing a bank draw you a little bit interest or you know invest in some kind of business or whatever you know I can use that seven hundred twenty-five dollars a month couldn't you you still work just you just can't walk past a certain amount let's start taking it down hey that's my fetus well folks I hope I sort of open your eyes on that yo my I have a relative I won't say what relation he is but he thinks I'm crazy to retire to draw my money at 62 I said what if I don't live 63 my dad my dad did the 70 year old thing okay he waited until he was 70 year old to start drawing his money and he died well he was able to draw his money for 15 months he started drawing in October and then October 2 the following year the November of the December the Jang where's the third he passed away so 12 13 14 15 you got to draw 16 checks and before he passed away it could have been drawing that money since he's aged 62 so I'm learning from him and I may be y'all learn something me I don't know but it's going to be even for people it's younger than me I was born in 57 for people younger than me it's gonna be a longer period of time before you get to draw that first check so you know keep an eye on that y'all have a wonderful day and a better good more bye I can't wait these Tomatoes get ready you

31 thoughts on “Collecting Social Security at 62 My Thoughts with PawPaw

  1. Doing it Cheap –you are dead Right! — I had the same logic as you did!!! Drawing the Momma Load at 62 !

  2. Hey. Were the same age. I had that figured out have to be 78. Before I'd lose out. 2 other factors: Health and Longevity. I'm in good shape but have COPD. Also the men on father's side of family all passed early 70s.

  3. To age 84 at 750 a month from age 62 is $198000,, so wait till you are 67 at $1000,, or 4.5 years less to get to 84 is $210000,, so if you take the difference of 12,000 over the term, you only need to earn 12,000 in any year and your even,, if you exceed that your ahead,, you are spot on correct,,,

  4. On less you just love your job, there is no reason to wait in my opinion.. Life can be snuffed out in an instant.. Why take that chance??

  5. A majority of people are scared to retire at 62 because they have been conditioned to go to work every day and make their employers wealthier and feel lost if they decide to stop their daily routine all of the sudden. Do not be a mindless drone; take what you can from this life when you can because as this wise man said, tomorrow is not guaranteed!

  6. I started at 62 because of what you just said. I was already retired and ailing so my future did not look great. I believe that you are correct. the only reason I can think that you might wait is that you have a good paying full time job and you are putting aside enough and raising the SS amount enough to make waiting a worthwhile proposition. Everyone is different and had different things going on.

  7. In 4half years, The Illegal Invaders Will have What you got robbed of for many many year's.. Screw That.. Take it NOW!! 👍…

  8. hello i am new here i westling with that question to retire at 62 or wait until 67 my self i think i will go early also. but its least now i will really think about going early now.

  9. Just started at 62, 2 months ago. Fixing up the townhouse for sale, I’m piling on cc’d debt to make it palatable for today’s market. When it sells, I’ll be fine. Received 1 check so far, waiting for the next one with an eye on the calendar. Still glad I did it though.

  10. Right on, I am taking it at 62. Less than 2 years away, can’t hardly wait. Don’t wait people get your money as soon as you can.

  11. Easy to say keep working till you're 70 when you're nowhere near retirement… the closer I get to 62 the better it looks. I'm wore out NOW, I can't imagine doing this shit til I'm 70.

  12. Im down with u man! B 62 this November i'm getting my shit now! We not promised tomorrow! Time 2 live it up while i can! I want 2 work part time anyway to make a little money on the side and stay active!

  13. Yeah, I thought my husband was going to divorce me after I did the same. I am investing it all every month. Hopefully with about a 10 present interest. And it will take even longer to be considered a mistake. Since he thought it was such a bad idea, my son's are the beneficiary.

  14. Born 1960, they have my FRA at 67…hahaha no way Im getting out at 62! I think more than 50% of us on the tail-end of the baby boom are getting out at 62.
    Its not always about the money folks, sometimes its about doing what you want to do, when you want to do it, without 40+ hours a week getting in the way

  15. I look at the situation this way: Time value of money, money is worth more today than tomorrow. Also, goods and services are going up! Besides, who knows what the damned govt. is going to do next! Get your money NOW!!!

  16. Paw Paw…You’re telling the absolute truth…I took my SS at 63….Even though my FRA…..Full Retirement Age was 66. Tomorrow’s not promised to us…get it while still can, and find a part time job. God Bless you Paw Paw.

  17. that's a shame your dad waited like he did BUT at lest you learned something from it too thank you for
    schooling the 1's that needed to know how S S works, they rather see you die B-4 you can draw your $.

  18. took mine at 66 as soon as I retired I want some of it out and used before there's nothing there to be paid out after 50 years of work since so much of it's going to those who have not paid in their fair share

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