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There is a SS rule that few people know about that will let you withdraw at anytime from 62 to 70, pay back what you have drawn and re-apply at the higher rate. I'm thinking you could start at 62, buy CD's and collect the interest until age 70, pay it all back without interest and collect about 60% more. I'm thinking this is a good deal unless you expect to kick the bucket before age 80 or other conservative investments paid more.
(Benefits increase 8% a year from 62 to 70)
What would you do?
 

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I'd be careful, the return on CDs is not as good as what it was even 6 months ago. The more attractive offers are from banks that are about to close up as one thing on Friday night and open as another bank on Monday morning.

This really is a poor time to try to juggle any assets to your benefit, especially through investment vehicles managed by banks.

Kayleigh
 

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I wonder if there are secret penalties for doing that?
 

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Most people are not aware that if a husband chooses to wait to collect SS until a later age, his wife can still apply for her part of his benefits as soon as she is elible. So, she collects while he waits to get the larger amount. She does not have to wait until he collects.

Do the math and see how it works out for you.
 

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There is a SS rule that few people know about that will let you withdraw at anytime from 62 to 70, pay back what you have drawn and re-apply at the higher rate. I'm thinking you could start at 62, buy CD's and collect the interest until age 70, pay it all back without interest and collect about 60% more. I'm thinking this is a good deal unless you expect to kick the bucket before age 80 or other conservative investments paid more.
(Benefits increase 8% a year from 62 to 70)
What would you do?
You're saying you will draw the SS and buy CD's, correct?
Why draw it if you don't need it to live on? It's already earning 8% per year.
CD's don't pay that.
 
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