Who Else Will Retire To Full-time In 2018?
I don't know if this will be a popular thread or a dumb idea, but here goes. I saw a post here recently (maybe two) where members said they plan to retire and begin full-time RV life in 2018. That's...
Forum Discussion
What is break even point when referring to SS benefits?
I think in this case it means how long you have to take the increased benefits to equal how much you would get by taking the reduced benefits. If you take your SS at 62 and it equals $1,000 per month then if you wait until 70 to start it would be about $1,788. So for 8 years you get $1,000 under one choice and $0 under the other. Then under the second choice you start to get $1,788 after 8 years.
The person who took their money at 62 starts out with a $96,000 head start. The second person will be catching up at the rate of $9,456 per year. In 10 years and 3 months he will break even. If you compare 62 versus 66 (the midpoint) the breakeven point is more like 5 years. After the breakeven point you are ahead in the second choice, but if you die before the breakeven point you received less than you would've gotten by starting earlier.
I think in this case it means how long you have to take the increased benefits to equal how much you would get by taking the reduced benefits. If you take your SS at 62 and it equals $1,000 per month then if you wait until 70 to start it would be about $1,788. So for 8 years you get $1,000 under one choice and $0 under the other. Then under the second choice you start to get $1,788 after 8 years.
The person who took their money at 62 starts out with a $96,000 head start. The second person will be catching up at the rate of $9,456 per year. In 10 years and 3 months he will break even. If you compare 62 versus 66 (the midpoint) the breakeven point is more like 5 years. After the breakeven point you are ahead in the second choice, but if you die before the breakeven point you received less than you would've gotten by starting earlier.
