Today I Learn… I make a point of learning something new everyday. This is what I learn each day

1, Sep 14, 2011

Retire as Early as Possible, Start Taking Care of Yourself Part I

Filed under: Economy,Health — admin @ 12:48 am

On 9/9/2011, while I was on a teleconference, I saw an article “5 Crucial Questions for Retirees.” The word crucial caught my attention more than anything else, because I want to make sure I have done the right thing all the way. Well, too late if I have not.

The first crucial issue is the time of retirement. The article advices people to stay on their positions till full retirement age, 67 or 70, whichever the government defines, instead of the earliest possible age, that is 62. The argument goes like this. If you start getting social security benefit at the earliest possible age, you only receive 70% of what you would get monthly if you were to stay till full retirement age. You will suffer a “permanent reduction” of your monthly social security benefit for the so-called early retirement.

The argument makes sense if you could live long enough to enjoy the full benefit. This is the key, which, sadly to say, no one can guarantee. When I look at our chemotherapy infusion room, with people in their 60s and 70s and their quality of life, I have no doubt that they would rather retire early and be able to enjoy what little life has left for them, however reduced is their benefit.
To be continued…

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