View Single Post
Old 05-27-2018, 12:20 AM   #1
el_fantasma
Registered User
 
el_fantasma's Avatar
 
Join Date: Oct 2016
Location: Redwood City CA
Posts: 566
Got laid off, time to start taking social security?

My last day was Friday. I’ll still get paid for three weeks so I can job search and then get one month severance with my last check. I’m 65 and in the tech field so job prospects are poor. For sure I’ll apply for unemployment which is $450 a week for 26 weeks. My neighbor suggested I also apply for social security even though I’m 8 months from “full retirement age”. By starting social security early I’ll get $100 less per month for as long as I live.

So I took the 8 months of social security and divided it by $100 and the break even point is 18 years. In other words, if I die before 18 years I would be ahead by taking social security now.

From what I have read, here in CA you can get both unemployment and social security without one reducing the other. Hey I’m no slacker, I’ve paid into both these for 50 years so I think I’m due.

Anybody been through this, am I missing anything? Sorry for all the personal details.
__________________
72 White Cheyenne, The Ghost
el_fantasma is offline   Reply With Quote