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s/s check

April 24th, 2015 at 04:39 pm

My social security check came in on Wednesday. I have never cashed it. I always add it to the $20 challege. They say you should wait to take your check until you are of full age, but I took mine at age 62. My reasoning, no one in my immediate family has lived past 70 and I vowed to save every check and I have.

Prev. total $7468.00
s/s 529.00
new total $7991.00

Getting close to $8000

7 Responses to “s/s check”

  1. CB in the City Says:
    1429890610

    Just curious -- since I will soon get my SS check -- do they withhold any of it for taxes?

  2. snafu Says:
    1429890664

    I don't know if DH sold his latest spec house but the latest report ...sales of New Homes have been rising rather steadily, reaching 539 thousand in February. That heady pace likely slowed a bit, with the consensus looking for something closer to 520 thousand in this morning’s number and that seems quite reasonable. [frpm Gartman Report].

  3. MonkeyMama Says:
    1429895124

    @CB - you can withhold taxes if you want to. I wouldn't recommend it. Lots of red tape to deal with to pay your taxes through SSA.

    My parents took social security at 62. IT certainly made the most sense for them.

  4. CB in the City Says:
    1429896450

    Thanks, MM. Now that you say it, I think I remember reading that. But then I forgot! Smile

  5. Ima saver Says:
    1429907506

    All they take out is the medicare payment.

  6. Amber Says:
    1429913918

    Way to go Ima, my dad took his at 62 and never touched it. He collects his rent check and live off of that. He's 79 so you can imagine what he has saved

  7. rob62521 Says:
    1429982916

    DH took his at 62 although folks kept saying he should wait and he would get more...he figured no one knows when you will die, so he wanted to enjoy it, even if it was a little less. Good job, Ima, on saving it!

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