it's not so simple sadly
Last Edit: Chazwaza 03:16 pm EST 11/11/20
Posted by: Chazwaza 03:16 pm EST 11/11/20
In reply to: He could also collect social security. - dramedy 01:49 pm EST 11/11/20

It's not as simple as that. If he expects to live for awhile (i assume he does), it behooves him to wait to collect... i believe every year or 1/2 year you delay, you get an increase in how much your monthly collection is. Once you start collecting that number is locked, the only way to get more is if the government raises it like as a universal thing (as Biden I think plans to try).

So it's like let's say he would get 2,000/mo if he starts now... if he waits till he's 73 he may get like $2500... I don't know the numbers but you get what I mean. When you are older and not able to work (or find work), and you don't have lots of savings or liquid assets and you don't own a home (or can't afford the taxes, etc), that extra $500 a month can make a MASSIVE difference in what you can afford in your life and what your quality of life may be. Especially if you live in the NYC metro area.

Sure he could make money at work AND collect SS ... but if he does while he can still work, and doesn't amass a notable savings while before he retires (by choice or healthy/age necessity), he may screw himself. But also if he (*god forbid*) doesn't make it till 80 or beyond, he may be screwing himself over from the quality of life he COULD be having with th added SS money he gets now to invest in his life while he has it.
It's such a cruel system.

This country is an absolute nightmare to grow old or not be wealthy in. And forget if you're also living with illness.

Previous: re: He could also collect social security. - Snowgrace 10:59 pm EST 11/11/20
Next: re: it's not so simple sadly - KingSpeed 11:41 pm EST 11/11/20

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