Need Advice
Not sure if this is the right forum to post this in or not but here goes. I'm 62, unemployed (my employer replaced me while I was off work recovering from my most recent surgery), have no income and am currently living in very substandard conditions. My job prospects are not good and my health makes working almost impossible. In 2017 I was given a 65% chance of living 5 years. The average age of my relatives at death is about 70. The average age of relatives at death that had the same medical condition as I is 57. If I take Social Security now I'd get approximately $800 per month. At age 66 & 8 months I'd get about $1,000 per month, and $1,300 at age 70. Should I go on and apply for Social Security now? Thanks
@984753
Hello there, sorry to hear you had to face such a difficult moment with your health and work situation. How are you feeling right now?
I think that decisions need to be taken based on our personal specific situation and social context, no statistic can give the exact view on someone's life. Probably you can try to list pros and cons about everything you are pondering to see what would be the best move for you.
I really wish you things to improve for better, take care.
Yes. Apply for disability. Then you can still work part time. I know what you are going through
@984753
It might be worthwhile to investigate resources for seniors in your area. You may find an organization that can help you discover more options for unemployment and/or disability compensation as well as offering tools to assess your readiness to get SS.
My family tree also comtains serious health issues and both my parents died in their 60s. I took the earliest opportunity to retire and try to live a healthy lifestyle even though I know it's likely just a matter of time but that is true for everyone, not just older folks. Taking steps to improve my health like quitting smoking, losing weight, exercising. and watching my diet gives me a sense of control and provides a better quality of life.
Plan for the future where you can and live for today. If that means taking SS/disability/whatever in order to live your life in a more fulfilling way, go for it.
Best wishes for good health and happiness.
Had to make the social security decision myself. From what I read in financial columns ... There are break-even ages for taking it early (the point where you would get more in total, by waiting). If you start taking it at 62, it would take until age 75 for you have gotten more by waiting until age 66. It would take until age 79 to break even on waiting until age 70. I found that a helpful tidbit to know.
I agree with others. I had to take a very early retirement from nursing aide and get SSDI at a young age. You can continue to work once on it and should add more for you later.
