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Tim F., aretiredhealthcare worker from Arizona, followed this advice to the letter.
But now, at 75, hes having second thoughts.
GOBankingRates spoke with Tim to understand why he wishes hed claimed his benefits earlier.
His insights might justchange the way you think about your own retirement plans.
Everything you read says you should wait until 70 if you’re able to, he shared.
I guess I thought, well, I can, so I should.
I didnt stop to think about if that was actually the best plan for me.
Tim likes larger monthly checks, but hes not sure they were worth the price.
Looking back, I wouldve wanted that extra money when my wife was still around.
Sarah and I had plans, Tim shared.
Im not as active as I was in my 30s heck, even my 40s, he said.
When you get older, a year means potentially a lot of health changes.
They told me Id break even around 82, Tim said.
But when youre 75, 82 feels pretty far off.
I wish Id thought more about enjoying the present rather than always planning for the future.
Im not an investing powerhouse, Tim shared.
But I couldve put the money in a high-interest savings account and made it work for me.
The years before 70, I wasalwayssecond-guessing myself, he shared.
Should we claim now?
Are we making a huge mistake?
I kinda drove myself and everyone around me a little nuts.
Tims Words of Wisdom
Tim doesnt believe waiting until 70 is wrong for everyone.
