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by gusty on April 15th, 2007

gusty

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How many years does it take to break even if I take social security at age 62 vs 65

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Answers. 4 helpful answers below.

  • by Anonymous on April 15th, 2007

    Anonymous

    I don't know what you mean by break even, but I think it is extremely unwise to take Social Security at 62, rather than 65. You will get far less benefits than you would have if you'd waited, and it will be for life!! My mother, a widow, was in this position, and she was tempted, but later was so glad that she waited those last few years!

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  • by Peace on October 29th, 2008

    Peace

    Iam 62 now and the difference of $600 a month or at 66: $900 a month.I guess, by not drawing now-I lose 28,000, that will take 7 years to make up for the years I don't draw-my banker said: if you plan to live more than the 7years-its worth it to wait and, take the $900. For me the $600 is peanuts, $900 is so much better-so, I will wait till 66. After the 7yrs of drawing SSI-I will have made up the $28,000. I hope this helped you.

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  • by ads on August 22nd, 2008

    ads

    idne or iodine or??

    u couldn't be more rong. it is tens of thousands of $$$$ difference.

    can U count???

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  • by unknown on April 15th, 2007

    unknown

    If you live to be 100 you will not get back all that you paid.

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