Flights of Fancy Mom

I'm a mom with dreams.  I want to live my life with no boundaries.  One day at a time.

Wait to Collect Social Security? I Don’t Think So

Follow Jacqui!
Follow by Email
Visit Us
Follow Me

There was an article on MSN that I read today. 3 Reasons Not to Take Social Security at 62. It gives three reasons why you should wait to collect Social Security. You lose 25% of your benefits. Apparently, you will also slash your survivor’s benefits? Not sure how that’s possible. One person’s social security should have nothing to do with another’s. Even if it is their spouse. And finally, “There’s plenty of time to save for retirement.” They acknowledge that Social Security benefits will start to run out in 17 years. Gee, that’s the year BEFORE I turn 62. The earliest that you can collect. So, I’m not sure where that time is coming from.

Well, I’m going to list three reasons we SHOULD not wait to collect Social Security and to take it at 62. At least for me anyway:

wait to collect social security

1 – Most of the women in my family don’t make it out of their 60’s. Sorry, not trying to be pessimistic, but realistic. I hope that changes with my siblings and I, truly, I do. Who wants to say that they know they’re going to die so early? But I worked for that money. If I don’t claim it, no one else can. So, if you are in a family with the same lower age deaths, consider your options.

The last sentence leads to #2:

2 – Even if I wait and end up dying before I collect, my son can’t collect on my behalf. (Yes, I know that’s not how Social Security works. I’m making a point) So, why should I let the money I put into Social Security go to waste? And I’m sorry, you are, in the end, giving the government this money when you can’t collect. The money should stay within the Social Security fund for retirees. But if it’s set to run out in 17 years? Where is it going? Or, is it because not enough money is put into the fund and they’re dipping into others money?

wait to collect social security

Leads to #3:

3 – What they don’t put out there is, there are millions of people who have died before collecting the benefits they are entitled to. Yes, I said entitled. Contrary to the belief of some of our officials, that we are not entitled to Social Security. It is our money. We ARE entitled to it. However, we’re still running out of social security? That makes absolutely NO sense. We should be ahead of the game if that’s the case and so many are dying before they can either start collecting or don’t collect for as long as they could have.

I understand that today’s retirees are paid by the people who are currently in the workforce. And my generations retirees are to be paid in 20 years or so by those who are then working. I do understand the concept of Social Security and that it is not a “bank”.

So, how are we losing money? Because the cost of living is going up, hence, increases are coming out of what’s coming in. But, salaries are not increasing as rapidly, meaning not as much money from current workers checks are going into the Social Security fund. Therefore, because of the current fight against raising incomes to where they should be, our futures are unclear on where our benefits will come from.

So, will I wait to collect Social Security? Most likely not. Even if I lose 25% of the amount I’d get by signing up later. I want to be able to enjoy life before I’m too old. I’m not interested in going from the workforce into a nursing home! And an update on my previous post on ways I’m saving for retirement? Due to being laid off, that has been waylaid.

wait to collect social security

Will you wait to collect Social Security?  Why or why not? Comment below or share on my Facebook page!


If you love a good YA Paranormal book, you should check out my book, Cavern Cove! Click the image to be taken to Amazon. It is also available at Barnes and Noble for your Nook and in Paperback! It’s also available on iBooks!


  1. robin rue

    Not to mention that Social Security will likely be gone by the time we are in our 60’s anyways, so why not collect now. Better to get a little now that nothing.

  2. Candy

    We plan on waiting. I know some people who’s health isn’t best and they started collecting.

  3. Jenn @ EngineerMommy

    It’s so uncertain whether there will even be anything left when the millennials get to their 60’s or 70’s. Everyone needs to make their own decision and I don’t think there is a right or wrong answer.

  4. Alli Smith

    This is such a complex subject! My best friend recently started collecting hers. It will be a few years before I’m old enough, but I’m definitely researching and thanks for the info.

  5. Amber Myers

    I’m not sure if we’ll wait or not. It’s something we haven’t discussed yet. We need to!

  6. Joanna @ Everyday Made Fresh

    In 17 years, we won’t even be close enough to collect. So we will just have to wait and see what happens. I do know that we are trying to set up things where we don’t need to depend on social security.

  7. valmg @ Mom Knows It All

    It’s a personal decision for everyone as it has certain implications for certain folks. I have a long time before I’m eligible and I’m sure it will be pushed back or gone by then.

  8. Pam

    I don’t know if I will wait to collect social security or not. I guess we will see when the time comes what I decide to do.

  9. Kathy McDaniel

    To be honest, I have not put any thought into this. Perhaps it’s time I talk to my husband about it and we make a decision. It seems so far away for me anyway – but time does fly!

  10. Joline

    I haven’t really thought about social security but I think it works a little differently here. It’s great to start doing the research now though before it’s too late.

  11. Melissa Dixon

    This is really interesting, I never think about this kind of thing for myself but I guess I really need to. I never thought I would live this long let alone long enough to collect anything but I see your points here and need to look into it more.

  12. Terri Beavers

    I also would not wait to collect it. I think it’s our right to claim benefits. We’ve paid them in with the understanding that they would be returned to us one day.

  13. Kita Bryant

    I have to wait for now. Maybe in the nearer than 60 future, but I like waiting for it.

  14. Debra Hawkins

    I don’t think I would wait either. I have been paying into it for ages! This is some really good information!

  15. Jaime Nicole

    I really hope that it doesn’t run out of money in 17 years. I will still be a ways off from collecting and heavens knows I’ve paid a ton!
    Jaime Nicole recently posted…Save Big on Great Grains Cereal!My Profile

  16. LaShawn

    I feel like I’ve been paying into social security my whole life. there is no way I would wait. As soon as i’m eligible, I’ll take it.

  17. Bonnie G

    Gee. I have never really thought about this subject before. I am not really sure.

  18. Our Family World

    I will take it when it becomes available. We can never be sure of the future, so I guess it would be better to have it and enjoy it while I can when I can.

  19. penpen

    even if social security fades away, by claiming it sooner rather than later you can always take that money and invest it–to make up for the 25% loss.

  20. Katy @ Midlife Rambler

    Interesting take on the subject. You’re right most site advise you to wait as long as possible to take social security. It’s worth remembering that there might be factors you should think about before you wait.


Leave a Comment

Your email address will not be published. Required fields are marked *

CommentLuv badge

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: