Home » My Experience Says, ‘Take Your Social Security Benefits as Soon as You Are Eligible’

My Experience Says, ‘Take Your Social Security Benefits as Soon as You Are Eligible’

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Courtesy of Aric Riley (Flickr CC0)

This is a guarantee that the “experts” are often mistaken for various reasons. The only perfect law passed in our nation’s history by politicians in Washington is the Social Security Act of 1935. Not only would it save tens of millions of seniors from becoming homeless in their later years, it saved our nation’s economy which is based on consumerism. Funding Social Security did not require any additional funding from the treasury. Employers and employees would provide all the funds necessary for its existence without end.

Social Security is the Greatest Program in America’s History

I have heard the same complaint from the right wing for most of my life: “Social Security is going broke and is unsustainable.” I call bullsh*t. If politicians had not stolen funds from the program for their own “pork barrel” projects, it would have a surplus. No one receives the sum of their contributions before their death.

In the Long Run, You Will Probably Receive More Money if you Take Your Benefits Early

This is one of the primary reasons I chose to take my benefits at age 62. I believe everyone should. Yes, the monthly amount is reduced, but overall, the benefit will be yours. If I had not chosen to receive my “benefits” early, I don’t know where my wife and I would be today. Our entire income comes from our monthly payments.

The truth is, you never know when your last day will come. Why let the government waste your money on another weapon of mass destruction? You worked hard for it, it belongs to you and your family.

Do You Want to, or Will You Be Able to Work Until the Day You Die?

Another good reason is your ability to work. If for any reason you are incapable of working, Social Security is there.

Factoring into the amount of your benefit are your highest earning years. If you believe those years have passed, filing for your benefits at 62 makes sense. You can continue to work if you choose, as long as your income does not exceed the current limit and affect your payments. This is what happened to me. After beginning to receive my payments, I received a job in management with the 2010 Decennial Census. I suspended my benefits until the job was over.

You can control your own money: Social Security personnel will work with you to ensure you take advantage of the best situation available.

Retirement Requires a Plan

I don’t need to offer a suggestion that you use your benefits wisely. For many of us, this is all or most of our retirement fund. Learn to budget carefully. Factor in the occasional large payment into your monthly expenses, such as car insurance, Homeowner’s Association fees, etcetera.

Social Security is “Security” for Many Older Americans

For my bride and I, Social Security is just that: “security.” Both of us began working when we were teenagers, and our employment ceased because of necessity. We both looked for employment, we were comfortable with working for someone else if treated fairly. However, if you are a man in your 60’s, you will experience age discrimination. I know a federal law prevents such actions by employers, but they work around it, and finding suitable employment is nearly impossible. It is nearly the same for women, although certain retail businesses and service industries favor women “of a certain age” in their employ.

The ”People’s President”

Finally, I believe that our nation desperately needs another president like Franklin Delano Roosevelt. He was the only leader who can legitimately be called “the People’s President.” His agenda was totally focused on the welfare, and the quality of life for the majority.

By James Turnage, Author of “A Little Murder in the Biggest Little City

Sources:

Fool: Why Smart People Take Social Security at 62

Go Banking Rates: 10 Reasons You Should Claim Social Security Early

Top and Featured Image Courtesy of Aric Riley‘s Flickr Page – Creative Commons License

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