Comments on: Obama Pulling Out the Old Social Security Scare Tactic http://jscafenette.com/2008/05/19/obama-pulling-out-the-old-social-security-scare-tactic/ Fri, 05 Sep 2008 11:57:43 +0000 http://wordpress.org/?v=2.6 By: Sue http://jscafenette.com/2008/05/19/obama-pulling-out-the-old-social-security-scare-tactic/#comment-9309 Sue Mon, 19 May 2008 23:45:00 +0000 http://jscafenette.com/?p=3715#comment-9309 We are one of those had no choice but to contribute (heavily I might add) to a government pension. Now government employees are required to pay into social security, but even though there were many years of work quarters where we paid FICA taxes, (non government employment), our check is markedly smaller due to the pension from the civil service years. We did not take our Social Security either at 62 as it would have meant an even larger cut in benefits. Besides which hubby still is working so it would have made no difference as in David's case. I don't know of many of our friends who took their SS early due to the penalty but if you are financially able to retire and live comfortably then I am all for taking the extended years of benefits.:) We are one of those had no choice but to contribute (heavily I might add) to a government pension. Now government employees are required to pay into social security, but even though there were many years of work quarters where we paid FICA taxes, (non government employment), our check is markedly smaller due to the pension from the civil service years.

We did not take our Social Security either at 62 as it would have meant an even larger cut in benefits. Besides which hubby still is working so it would have made no difference as in David’s case.

I don’t know of many of our friends who took their SS early due to the penalty but if you are financially able to retire and live comfortably then I am all for taking the extended years of benefits.:)

]]> By: David M. http://jscafenette.com/2008/05/19/obama-pulling-out-the-old-social-security-scare-tactic/#comment-9308 David M. Mon, 19 May 2008 21:05:34 +0000 http://jscafenette.com/?p=3715#comment-9308 I was grabbed by your retirement age paragraph in particular. I'm 60 on Mar 26th and don't have retirement plans at all. I am in a profession where I can cut back instead of retiring and I know a lot of attorneys who are still working in their 80's. Forgive the cliche, but age really is just a number. It's health that matters and we are living longer and maintaining better health. I know that financially we make more money if we take social security earlier, but I'll want greater monthly income, so I'll probably wait and take it later. If I'm still working, I don't need it just because an arbitrary number says I'm entitled to it. So, I'm likely to be one of those Americans who wait as long as possible to maximum the monthly income instead of the lifetime income. My plan isn't the best for everyone, but it makes the most sense to me and my life. I was grabbed by your retirement age paragraph in particular. I’m 60 on Mar 26th and don’t have retirement plans at all. I am in a profession where I can cut back instead of retiring and I know a lot of attorneys who are still working in their 80’s. Forgive the cliche, but age really is just a number. It’s health that matters and we are living longer and maintaining better health. I know that financially we make more money if we take social security earlier, but I’ll want greater monthly income, so I’ll probably wait and take it later. If I’m still working, I don’t need it just because an arbitrary number says I’m entitled to it. So, I’m likely to be one of those Americans who wait as long as possible to maximum the monthly income instead of the lifetime income. My plan isn’t the best for everyone, but it makes the most sense to me and my life.

]]>