I think its a pretty simple decision. If you are healthy, you don’t know how long you will live. If you need the money right away, then take it. If not, then wait as long as possible to maximize your monthly payment. This also gives you an incentive to do whatever you can to remain healthy and live long enough to recoup the money lost by delaying. Of course, whether you “need” the money early can be very subjective.
You can take early payments, party hardy unti you drop or you can wait and leave more to your kids or whatever. 
This is the biggest problem with the US.
I’ve been to London, Paris and Tel Aviv/Jerusalem and I felt safer in all three places than in any city in the US.
It’s a real shame how crime is here.
BTW if climate is your biggest factor the climate of Israel (which I understand is similar to some other places in the Mediterranean and Southern California) was incredible. I feel so bad for the people of that entire region because of the political issues. That area of the world could be paradise.
And I now understand why people love Souther California.
Leave it to the kids…No way!!! I want to have just enough left to put me in the ground. I started with nothing and I want to go out with nothing.
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I loved hanging out in Manhattan back in the early 2000s. There was a little bit to watch out for, but now I refuse to go. Violent crime in broad daylight. It isn’t just the cities though. I now live in rural Eastern NC and my neighbors have a theft ring to support their meth addictions. They steal power tools at night from people and sell them to the pawn shops by day. Police have busted them already for drugs and they served no time. Back to their normal ways.
I plan on working in some capacity until 70 at least. I’ve watched my mom still working at 79 at her own business and super healthy and my dad retire at 60 healthy and quickly develop health issues. I’m a firm believer you have a health clock once you retire. I’ll delay that as long as I can. If I don’t need SS I’m not taking it.
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Good feedback. I’m going to retire but I’m gonna be active. Probably golf 2 or 3 times a week and I walk when I play. I’ll probably ref and ump little league or rec league to make my vice money. I know a couple of guys that own breweries so I might pull taps a couple of times a week. I just wanna enjoy something for a change.
I’ve just known too many people that died too young. NWA I making an assumption but I’m guessing your mom loves what she does. Me, not so much…
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Yeah absolutely. Of course I love what I do too. And even after I retire from corp world I plan on teaching at community college. I don’t plan on really stopping until health dictates it to me, even if it’s part time or limited.
clt has travelled a little bit and would recommend Toronto if you want to leave the states
Body in motion stays in motion and definitely have to keep your brain engaged. I think that is where a lot of fall off happens.
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Loved Toronto while there. City had a nice vibe while I was there but cold in the winter. No Geddy Lee sightings to discuss baseball though.
Have friends who just left Ontario. Too cold!
Toronto!
I have a brother in law that retired to Spain. Established residency in Texas before going to reduce taxes in retirement.
We have visited and it’s great for a trip, but I don’t think I could do the expat thing at all.
They were in Valencia when we visited and I can highly recommend that area as a place to vacation.
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I’m in Manhattan right now and saw someone push a random stranger walking by on the street and yell at him for no reason yesterday. Saw it from my hotel gym while working out.
We’ve gotten too soft on crime. DAs let people off for increasingly violent crime and then are shocked when criminals murder someone.
We are also living in times of significant impedements to free speech. You can get fired from your job for making statements that have been common sense for ages, such as saying a man should not be in a locker room with young girls.
In Brittain they no longer have free speech as certain speech can get you fined or even arrested. We are headed to a scary place. Then top it all of with the fact that the individual’s buying power shrinks every year.
Costa Rica has well developed infrastructure and a very high quality of living. There are still affordable places you can move and raise a family. The kids would probably be way more open minded and culturally enriched too than going to public schools in the US.
We adored Roatan, Honduras but it isn’t quite developed enough to want to raise a family there.
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My friend fled England for these reasons among others. It’s beyond Orwellian. He’s an English refugee in SE Asia somewhere now.
clt is fine with retiring on a golf course in the Charlotte region
go hit balls at the range, then watch a game at the clubhouse bar
Forgot about Costa Rica. It has been 16 years since I was there but I never felt unsafe. Even the guy that tried to sell me cocaine was polite when I turned him down and wished me a good night lol.
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I always see people talk about low taxes and don’t really understand it. We just have a different tax structure here. We have federal income, state income, real estate, property, and sales taxes. Social security and Medicare taxes for those who may never even reap the benefit. I paid more than double in taxes last year than I earned gross my first year out of school.
The wife and I are planning to spend part of our retirement in Peru. She’s Peruvian, so that will help. Basically, I want to live the perpetual summer, which will work considering the seasons are opposite in the northern/southern hemispheres. Of course, those plans are contingent on whatever the political situation is during that time. That goes for both Peru and the US.
I retired 22 years ago and very happy I did so. Health was good and could travel when I wanted. Invested wisely and making more now than when I retired. Of course, health declines over time and without the benefit of Social Security insurance, finance could be drastically affected. Would highly suggest that you find a time-consuming hobby that you really enjoy.
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