3 Ways You Could Be Losing Social Security Benefits

[TowForce]

We will be be putting more efort into sharing this type of content with out members. This is one of the reasons this forum was created. Maybe you are already retired and collecting benefits or you are reaching that age. Trying to detremine when to take Social Security benfits is only going to be increasingly more confusing. The Minimum Age for Full Retirement or FRA could be increasing for most of us from age 67. During the Regan Years the FRA increased from 65 to 67. Speculation is that could increase again in the next year or two. The increase would likely be 69 however it could be 70 years of age.

 

 

How many Tow Truck Operators want to be out on the road at age 70?

How many want to find a career other than Tow Truck Operator at 62 up to 65?

 

While the age expectancy has increased over the past decade and we are seeing Tow Truck Operators in good health working longer. That is not a given for many who have been forced out due to health reasons. This is a discussion better to have now rather then later. That discussion can be in the topic, but it should certainly be with you family and/or a finacial planner or consultant. Most Tow Truck Operators delay thinking about retirement until the time comes. We hope the information shared as this forum goes increases the knowledge of those members who are not thinking of retirement.

 

 

[goodmichael]

The younger operators need to be mentored on investing. I do not believe social security is going to be round when I leave the workforce in ten years. I mentor younger workers on opening  ROTH IRA due to the tax advantages. 

[TowZone]

Social Security will be around in ten years. However the full retirement age will have inreased to 70.

 

My full retirement age already increased from 65 to 67 and I am weighing what age to take it starting at 62.

 

It is just Math, it should be that difficult. Oh, but it is.... or at least it is more than I can grasp in a few hours.

 

The Towing Industry needs an on call Clergy, an Attorney and Artist and now a Financial Planner. Geesh...

[goodmichael]

You are more optimistic than I am. Looking at the math, I give it about 7 more years. That is why folks need financial planning. Nobody ever taught me. I hope people learn by my shortcomings.