The Flinchum File

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Crazy Talk


How often have you heard someone say “I can’t wait until I turn 65 and retire.”  That’s crazy talk!

First, age 65 as a retirement age was set long before we enjoyed greater life expectancy.
Second, with unemployment at 3.6%, the sun is shining, and it’s time to bank more money.
Third, you can no longer receive Social Security at age 65.  It is 66 years now and rising to 67.

Crazy is taking your Social Security benefits when you first qualify for the full benefits, because those benefits get more “full” later.
If you take your benefits at age 66 instead of age 70, it will cost your family, on average, $110 thousand over your lifetime.
If $110 thousand is not important to you and your family, what are you waiting on – retire today!
If that amount is important, keep working . . .

In addition, how much money will you make working four extra years?
Would your family appreciate that extra money?
Would YOU enjoy that extra money?



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