Time to reform Social Security

[Althea]

I already pointed out the break even point is at age 79.
They take out Medicare at 65 but if you retire at 62 you are paying for private insurance or hoping you don't have any medical issues for 3 years.

Correct.

Health insurance doesn't change, as people are covered previously. It could be argued that the SS check can pay the health insurance premiums.

Typically, people with employer sponsored health insurance probably aren't collecting at 62, as they earn too much.


With your break even at 79, it's a bit of a no brainer to collect a check for 16 1/2 years. Notwithstanding 'averages', a lot of people are long gone by then. And if you don't need the money you can invest that for the entire time.


It's definitely a personal decision. My one buddy retired from the post office and would have left $90,000 on the table of he waited to collect.

Other people would do better to wait, and hope that they live long and prosper.