Retiring at age 69

The retirement age now for Social Security is 67 and the GOP want to raise that to age 69 in gradual steps. That is a cut in benefits that I oppose. I am currently age 75 and my wife and I derive 85% of our retirement income from Social Security. In 2017, all our insurance expenses, life, home, auto and secondary health, have increased at double-digit rates. Fortunately our property taxes are stable, but in order to remain in our home, we have been forced to take out a reverse mortgage on our home. That means that we will not be able to pass on the value of our home to our son when we die.

However, we are more fortunate than those who are totally dependent on Social Security. We are taking in our belts somewhat in 2017, but we still lead comfortable lives. I worry about Americans who are not as well off as we are, and I worry about the future of all Americans dependent on Social Security and Medicare in the Trump era.

Advertisements

3 thoughts on “Retiring at age 69

  1. What if you work a job that requires physical labor? How are you supposed to do that until 69? I was lucky that my husband and I could afford to retire at 65 and live comfortably, but I do worry about health care and what the Trump era will do to out investments.

Comments are closed.