Taking SS early (62)

[Backyard]

Some info, don't know how relevant for your situation...

O

Thread 'Business Owners - Health Insurance Help?'

Nov 25, 2025

For those who own their own business, I'd love to hear how to possibly save money on health insurance. Here is our situation:

My wife and I each have our own separate small businesses. We have two children (13yrs & 16yrs). We currently have Kaiser Pemanente and already pay roughly $1k per month. Next year we are looking at a monthly expense of $1600/mo and with the shittiest coverage possible ($9200 individual and $18500 family deductible).

We are both healthy adults and kids are also. We do use our health coverage, but not nearly to the amount that we are paying. Going without...

• OregonSteeler
• Replies: 56
• Forum: General Discussion Forum

• 

Not relevant at all. Not a business owner, Im retiring from working for a business. Thanks anyway.


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[DLSJR]

From SSA page.
You can apply up to 4 months before your enrollment month.

Thanks!,

I obviously could have looked that up - DUH. But you guys have been a great resource, thanks for being helpful.

 

[Couester]

I’m 61 1/2 now and I’m definitely taking it at 62 for sure. An extra $25k per year now will allow me to do some fun activities (hunting) and trips (hunting) while I still have the energy and health to do them (hunting)!

 

[cnelk]

I completed my SS phone application this week. I turn 62 early Feb and the lady said Ill get my 1st check in the 2nd Wed in April. You need a full month AFTER your birthday to collect benefits

Also, you can select one of 4 different options to have FED taxes taken out - 7%, 10%, 12%, 22%

 

[mtwarden]

Damn we’ve got a lot of old geezers on this site!

 

[texag10]

Not relevant at all. Not a business owner, Im retiring from working for a business. Thanks anyway.


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It's a thread of people who don't have employer provided coverage and aren't on Medicare, so probably going to be plenty of relevant info on things like health co-ops for you to look into.

 

[Backyard]

It's a thread of people who don't have employer provided coverage and aren't on Medicare, so probably going to be plenty of relevant info on things like health co-ops for you to look into.

It wasn’t at the start. It has morphed into this since I commented.


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[Serrano]

I'm retired, 65 and waiting until 70 to start. I'm spending retirement accounts now.

I saved money so I wouldn't be living under a bridge, eating cat food when I'm old.

Yes, there is a risk I die and leave money on the table. But the risk that I live long and poor would hurt more. With how much prices are rising, I'm planning to have more than I currently need.

You may also have to consider how long your spouse will live if they file based on your income.

I use this retirement website calculator to plan.

Retirement calculator

 

[JVS]

Have you retired guys heard of income ETF’s? I’m amazed at how many retirees don’t utilize them. They invest a portion of their holdings in covered calls and equity linked notes to produce a very nice dividend. Many of them pay on a monthly distribution.
My favorites are JEPQ and QQQI.
I am no where near retirement and I use them to enable my spouse to not work. I sold some real estate and threw a nice chunk into them. Sometimes we use the dividend but most of the time we just roll it into our IRA’s.

 

[Kimber7man]

Heck, the SSA had my wrong birthdate since they transitioned to digital format, someone keyed in the wrong birth month! I only found out when I had to verify some stuff on a call with the IRS.

Went in on NYE and got it corrected, took all of 10 minutes and the SSA lady was very nice and helpful, now I can log in and everything. I still have at least 5 years before I retire so gonna hold out and go for max….

 

[NRA4LIFE]

Damn we’ve got a lot of old geezers on this site!

Hey I resemble that remark. Took SS at 62 and have not looked back. With both of our SS and my wife's pension (I took a lump sum) we are building equity with no change in lifestyle from when we were working.

 

[Rock’N Tacos]

I didn’t read all pages, but its important to remember your spouse get theirs or 50% of yours whichever is greater.

 

[mtwarden]

Hey I resemble that remark. Took SS at 62 and have not looked back. With both of our SS and my wife's pension (I took a lump sum) we are building equity with no change in lifestyle from when we were working.

We’re in a very similar boat, two pensions and two collecting SS—might be even taking in a little more than when working

 

[North of 60]

We’re in a very similar boat, two pensions and two collecting SS—might be even taking in a little more than when working

Us too...grateful to be in the boat with 2 pensions and both getting SS with no WEP/GPO