I guess I'll have to eat my words and take my Social Security this year. I'd been saying all along that I wouldn't take it until I'm 67. I've been sitting here with a pen,paper and a calculator figuring where I'd break even if I wait.
I've figured in an average 2% annual increase for inflation and to compound it. At the age of 85,I'd still be over $10,000 short of breaking even for the total I'd collect overall. I'm not gonna figure it beyond there because I doubt I'll live much beyond that anyway.
So,if I do plan to start taking it in June,how much money can I earn this year without being penalized? Should we start selling cattle in the wife's name right now? Will that matter if we're filing a joint return? A question for DaveH I guess.
I've figured in an average 2% annual increase for inflation and to compound it. At the age of 85,I'd still be over $10,000 short of breaking even for the total I'd collect overall. I'm not gonna figure it beyond there because I doubt I'll live much beyond that anyway.
So,if I do plan to start taking it in June,how much money can I earn this year without being penalized? Should we start selling cattle in the wife's name right now? Will that matter if we're filing a joint return? A question for DaveH I guess.