Ask Terry Questions SS and Medicare

SS and Medicare

By Terry Savage on November 01, 2023 | Financial Planning / Retirement

If I take SS benefits now while applying for Medicare would be $600.00 if I wait til age 70 I would / should receive $ 1,026.00 what are your thoughts and or calculations for this? Thank you

Terry Says

You should definitely wait until age 70 to take SS, assuming you have other money to live on until then. That would give you a much higher base check (not quite sure about those calculations, but you at least get an additional 8% for every year you wait. And future cost of living increases will be applied to that higher base.

Recent Financial Planning / Retirement Questions



a personal
finance question