Retire at 75 years old
If I wait to retire until I an 75, what repercussions are there for not taking social security and Medicare until then?
Terry Says
You MUST start taking SS at age 70. If you are still working at that time and have total earnings of over $25,000, half your SS benefits will be subject to taxation.
If you have insurance coverage at work, you don’t have to sign up for Medicare Part B (unless your company has 20 or fewer employees). But do sign up for Medicare Part A when you reach age 65. And check with Medicare to make sure your work health insurance is considered “comparable” so you don’t have to sign up for Part B and your supplement. If they tell you to sign up for Part B, be sure to buy a supplement at the same time.
Hope you love your work and keep enjoying it at age 75!
