I took my Social Security 2 years ago due to health concerns after being diagnosed with breast cancer. The extra money was going to be helpful. That is the only reason for me. If I were you I would wait atleast through Dec. 31. Then apply the next week. They check on what you've paid into through the year. If you apply before then, they will check through 2013 instead of 2014. So for a few extra weeks and throw in 2014, it's worth it.

Well done, Prism99, your post was excellent on all the points.

I would like to emphasize that Medicare starts the month you turn 65. I don't know your insurance situation but if you have to purchase an individual plan then this will be a major expense. Also, Medicare does not cover dental or glasses.

Good luck. You have received a lot of really good advice to consider and help with your decision.

I would so love to retire and spend time sewing and enjoying life....my full retirement age is 66 years and 8 months...I got a long way to go..I'm only 56...Unless..... I win the lottery :-)

whatever your decision, enjoy it :-)

My daughter lives in New York City. She and her husband run their own business, and she asked me to help with the baby whenever possible. She and I talked last year about my work schedule, and she planned the baby around the time I told her I would retire. Neither my daughter nor I want to fly all the way to NY just for a few days at a time. She is thinking of 3-4 weeks at a time, which is why I want to retire and leave my schedule free. My stepson and his children also live in NY so I will spend time with them too.

RE: Collecting Social Security. The Social Security website http://www.ssa.gov has a very good calculation program. It can tell you how much you will get per month at various ages using your actual data. Income goes up every month you delay and program can only do by year but it is a good starting place. Medicare starts at 65 don't miss application date, because your cost goes up every year you delay. You can start the paperwork a couple months early and I would recommend it (Just had my first medicare doctors visit Tuesday). At 63 or 64, medical insurance can be very expensive, if available. My husband worked long enough to make sure we had access to his health plan until we were both 65.

Make sure your plans coincide with the Grandbaby's parents. Our son lives about 30 minutes away. Far enough that we are readily available for emergency babysitting or the fun stuff but not everyday. There is a reason that women our age don't get pregnant. Hauling 20 or 30 pounds of wiggles up the stairs is a lot harder than it was when I was 35.

One consideration, although I don't know your situation, is severance. If you are going to receive any kind of severance package it is better to get it early in the year. That way you don't have such a large tax burden in one year.

Thanks to everyone for their input. I called Social Security and set up an appointment for later this month to discuss my retirement options. The lady I talked to mentioned the possibility of applying for half my husband's SS benefits. Doing that will not impact his benefits or mine, and I will be able to apply for full benefits when I turn 66. I can get COBRA through my work until I turn 65. Hubby and I do not have an extravagant life style so I'm hoping half of his SS will be workable for our bills.

It sounds like retiring in January makes more sense than retiring in December. I've been working since I was 15 (only taking a year off for the birth of my two children) so waiting one extra month is no big deal.

Don't retire before you are eligible for Medicare! You might be able to take less Social Security and retire at 64, but you won't be eligible for Medicare until you are 65. I just saw your post on COBRA - Be sure to check what that will cost because your employer isn't going to be picking it up and it is pricey.

Also (leftover from yesterday), I just checked my Medicare bill which is taken out of my SS check each month. For 2014, it is $104.90. It kind of works out that your Medicare goes up, your SS goes up and it sort of balances out with a couple of dollars left over. Last year my SS was $298.00 - net, a month, this year $304.00 - net. I get a small amount because I didn't work from 1964 to 1996 (when I had to make enough to earn my 40 quarters (that's what makes us eligible for Social Security......it is something else now.) So I had to earn enough money/time in to qualify for SS. I did it and it has worked out just fine - it is my vacation money. The rest to live on is my husband's pension, of which I get 75%. I am comfortable. Our health insurance is covered 100% except for co-pay and deductible for the rest of my life and that is good. Just dot every eye and cross every t to make sure you are getting what is absolutely- positively- without a doubt- nothing withstanding benefit you are entitled to. And don't let anyone talk you into anything unless you check with SS first and Medicare. Remember also that the gizmos that they tell you on TV that Medicare will pay for it, THEY DON'T - unless you check everything out for positive sure. Not so much for you but for other readers here.......I found out from Social Security and other places that you might not be able to retire until 65 because the monthly payment is less. DUHHHHH! Of course it will be, but I found out from our advisor, if you opt to retire at 62 you will get a lesser amount, but what you make in those three years that you have been retired you will have made up by the time you get your age 65 SS. In other words, you will come out ahead because when you turn 65 you will get age 65 payments, you just get less from 62-65 because you retired early. My sister and her husband did the same - and really didn't notice that much of a difference. Check it out. Edie (I am not really that good in explaining, but I did it and I'm almost 76 and it was no hardship for me at all.)

If you retire in 2014, most of your vacation days are already used, but if you retire in 2015, you will have new vacatin days for 2015 that you can take before you retire.