Are You Retiring Early?

" Storm and all the for awhile but it seems appropriate to that today he had just what you get with the economy -- and still the still enough. In worse deep recession mode here. Early retirement claims increased dramatically -- instead of working longer is the economy worsens more Americans are calling it quits before age 66. The ramifications could be profound for retirees. Families government social institutions. Instead of seeing all the workers staying on the job longer is the economy is worse in the Social Security system is reporting a major surge in early retirement claims that could have implications. For the financial security of millions of baby boomers. Since -- current fiscal year this was written before last week since -- since that current fiscal year began October 1. Claims have been running 25%. Ahead of last year compared with the 15% increase that had been projected. As the post World War II generation reaches or retire eligibility for early retirement. Another wave of -- workers may opt for early retirement when they exhaust unemployment benefits late this year early in 2000 --"

" We have less money obviously but they just some people just wanted people just wanna get out. This I see this more all the time I see people could go -- out at age 62."

" In 2007. The most recent year for which statistics are available 42% of men and 48% of women began collecting Social Security retirement benefits at age 62. The first year of eligibility."

" So -- wanna know do you know where are you retired early -- you know people are retiring early. I I think there -- a lot of people are just leave in the workforce should know we talked earlier about people just getting discouraged -- not it and that checking out. They -- a statistic last -- that said the 10%. Of of males. Under they -- around the age of fifty have to have just stopped working. You know whether very you know a lot a lot release a lot of people who can go out on my government pensions. They leave at a at a very very early age and -- so what would be when they would would you like to retire when do you plan on retiring. And you know people of that are that are drew that are dropping out of the workforce not drop about retiring I guess is what -- call but it is dropping out. Of the workforce as soon as they can. 1877469432218774694322. And -- in favor of by starting to collect as soon as you can especially united in this situation when you don't we you don't really know how how was how long it's gonna be before. The the rules are changed a little bit whether it's means testing your just if you're in a private pension system just that the entire pension system just going belly up -- to be taken over by the government and a fraction what it's worth of what you were expecting to make so. Get it while you can get jurors now with ice cream on top. Don't wait for pie in the sky by and by when you die get yours now with ice cream on top does will reverend -- used to say it. I think reverend -- at his word. 18774694322. We're talking about early retirement and -- say getting more and more prevalent as the as the economy has -- gotten worse. -- your next with how we cargo ahead pat."

" They are your thoughts are part of what what I do like transport -- also serves AM -- you know I know of course everybody that works then their their work well for what it's like your stuff. I've never seen so many people. Get out like -- found out unbelievable. Just out of what office I can probably had more than 50% of the people. Every -- target to retire within the last four months. Well the one thing is because they haven't been replacing people. Well one and a big deficit sort of look at the state money whatever way they can did not hire people without replacing people who did away with actual. And there's work that's -- Just too much work for them up bodies that are there right now and that the older people live categorical wallet don't have a good anymore to work rebels operate. They're bigger -- another -- whether they wanna get out you know."

" So what ensor say -- if you're 50% of them retire they got a cure what the hiring freezes Leo have to hire some more people on thank."

" Who are you know I -- I'm not so sure about that because right now we're in a situation now to what we're ability rebels step props -- up here. I mean it could get to where we may have to close some of these smaller offices of the afternoon illiterate people look whether --"

" Most most people other that the post office I go to or are trying to hold and they -- I mean they're getting old I shouldn't say that I'm getting alto a -- as they are but they they seem to be you you know they're always listen to the old -- radio station you know what I mean VS seventy stationed. They're always they did they heard that they can all check out pretty quickly themselves like thank."

" Yeah well you know other way to put the retirement -- also served as. Right around eighty I if you started right around -- that. I mean that's what I start it was back from summary before but right around that time we welcome the new system you also you all our guys -- onto the new guys are on the he has speed. Yeah serves and you know who portrayed by the Iranian and a lot of hope you know that that -- except that now is they know. The post offices straps in sort of different ways because they're sort of regulation that we have to abide by. And then you deal with unions and I'm happy about lot of rules regulations yeah and that's just a lot of red tape and that's a lot of problems you you're gonna see some big changes in the polls spells some beer."

" Yeah I think getting your people just get did they get to a certain -- and they know things are gonna get any better in there and I think Americans I think people are gonna about the post office -- a lot of people are concerned about their private pensions or even Social Security you know what what is -- going to be. Or you know if they -- you know you stick around you were you why he OK you you amass more assets. Is that gonna hurt -- down the road if they switch over to means test it."

" Yeah I never -- in this situation I what I would do. I particularly out and start probably established probably wasn't something else should know because I'm not just gonna sit around the former -- metal side what he -- lot of work and am gonna do that Americans are probably gonna do that."

" Yeah thanks for the call pat Betty you're next with how we cargo ahead Betty. Why god got black but if -- Gerri thank you my -- been just turn that they tried it that he retired at sixty."

" He just beat me can collect the full pension at six they now company. And he's been very conservative so I think it -- he says he's gonna pay a lower amounts of both the security and they want collected before about bonds."

" A everybody's having the same conversation Betty and what do I have a feeling you people are thirty or have in the same congress."

" That's thirty it just made me an of the life kind could be it's never that I have anything."

" Now I he I don't the F you're thirty I don't think your your chance now of getting any Social Security."

" But I'm gonna be 59 cannot work and allow me. Hopefully fix -- that it breaks yeah but not done so again -- break pension."

" So you -- you don't wanna stick around and then try to max announced Betty."

" is she didn't I don't get it -- now. Now maybe I'm just stuck somewhere being illegal alien and get my money."

" Thanks Betty 018774694322. Dave your next retired people I saw a special on it was actually would you -- HGTV."

" People are buying homes in South America because it's a lot cheaper to buy property in no standard of living is -- they. The index for cost of living much much much lower and if you're an American whether or attack and it can't retirement you can live really well."

" I think I'll stay here in the United States Panama's seems to be fair replace animal on. Well I I go with Chuck Berry everything you want we got it right here in the USA."

" Dave you're next with Howie -- go ahead day of."

" Oddly enough salary the to cut the got one the other countries and then he's talking about it Brazil so so maybe all the Americans -- go to Brazil."

" All there was a story on the front page of the goal here a day about all the Brazilians going back yeah -- supposed to be a sandstorm they're getting out he's he's let the Internet so I don't know how how are nothing but but but but but but. --"

" You know you know -- when I did when I got into the work force you could expect a little loyalty from your company anyway and now. After a constant erosion of benefits outsourcing of positions stand. You know just just finally. No no no loyalty the employee whatsoever I mean if you have an opportunity to. To get out why would you why would you take advantage of that I mean it's it's just. Whether whether you know it or not everybody is a free agent everybody feels lucky said Cuba does not the way -- ought to be."

" I agree Dave I am you're I have no I obviously I loyalty to a -- but that's the only place I -- you loyalty -- you know immunize. -- I I always I've I've given you I've told -- story before about chuck Scarborough when he worked a channel seven and get the station and number one and the like no we within a week he quit to go to new York and does somebody asked him why and he said in this business -- them before they -- PO I used to just be TV but now it's everywhere you're right."

" It is that that it -- it -- wake them out of its deep sleep if they thought they could save 30% by getting ready you they would so I mean chuck Scarborough is right I mean unfortunately. It's aware of the world so if you -- if you are fortunate enough. Have a pension or and that's day again you can get out early they write on brother I I can understand why banks sell yet."

" Thank they've won 8774694322187746943. Two to deny it you know I don't I had. I would not tell anybody to stay on the job and I'm just ask and sort of -- to see what people's reactions are but I don't blame anybody forget Madison as they can't. I saw today. His journey Jim Rooney's -- is a guy who retired. -- This guy's work he's got a second pension what are you -- how many -- is there's this guy death. I mean I do have some resentment of people who were who toward getting a big pension from the MBTA in the drawing more public money but you don't. The guy goes out of Social Security at age 62 I mean I can -- how can you blame them I mean did a white white put up with a BS. Michael you're next with Howie Carr if we can afford -- Michael you're next with Howie Carr go ahead Michael."

" How -- I retired at 62. And I get 18000 a year from Social Security. And I made an appointment whatever went down there and they told that he's -- That's 90000. Dollars that I would collect. Between 62 and 66 like all retired college. They also said to me. You got all available along trying to make debt ninety grand -- exactly. And I can make -- at that time I could make thirteen six a year before had to say anything back. Then a year to light turned 66 biker -- 34000. Look books -- the trick is on the books yet. So you know. Between thirteen and the eight fuel. You know and if he gets so there are side making another 15000. A year therefore we should not go so go crazy. And you try to pay your bills go before that tying -- you could live quite comfortable. Yeah and not have to deal would be every -- stress of --"

" You don't want Michael I'm kind of surprise that the figure is not higher than 42 for men and 48 for women that age 62 when I mean you would think that these these people would do the same kind of research that you -- that I did or that all public employees though you know. I mean right how -- how long you have to have -- lives. Too attuned to make back the money that you would that you would be turning away."

" Yeah exactly exactly it's 90000. Dollars and and that's at age 66. So to make up debt 90000 dollars you're only gonna get another two grand a year from Social Security if you wait till you're 66 --"

" Apology got inflation -- want to right sir you're hitting dollars worth more than the going to be in ten years. Old. -- of course -- thanks -- call Michael Geary here next with Howie Carr go ahead Gary."

" Well I -- Clark Howard good luck and Sergio thank you appreciate it. I love god but of course I'm a double -- I'm retired from the military troops and seven. But I was encouraged to -- 62. By the source security people here are."

" Got your two -- to callers in -- say the same thing there ya."

" Area have a now here's here's saying I was told that black gentleman was talking about. By the thousand dollars I'm not exactly sure what it would talk about."

" he -- that he get 18000 dollars a year for five years but for those five extra years or eighteen times five is 90000."

" Okay let -- and I was told what I do I would also encouraged to work. I'm now 68 year old apps don't work and interpreting that this system. And I didn't what what -- stolen artwork but I'll actually get back. All the money that they it and but the problem whereas I'm not gonna get back they know it invested. In the end what are they caught the trust fund."

" Yeah I wish there would you believe the trust fund Gary a new trust -- is -- the Tooth -- isn't it you know just don't ask us. It's just some money is it's just and I know we know you know I mean -- the money that you were you know that you well paid out though when you were working in 1980 I mean they didn't go into a trust fund for you they used to the payoff. Whoever was retired in 1980 and they -- they put it I guess theoretically there's an IOU for all of us but in -- Than ever gonna pay that money back."

" Well I think I think what's been happening I -- that we'll have it not. -- All per plainly that all the years."

" Thanks oh thanks for the call Gary 18774694322. -- be your next with how we cargo ahead chip."

" gonna cover it up remain. Do the fact of the legislature gave other state workers shut down -- a lot of people are tired out of that system as well. Yeah I -- and also assist say having got the you get ten days early off a year without pay you got charged three you know they have that next step by any of it out and getting more ideas and got -- so many years after that. They got another incentive in August -- this year if people retire they're -- give love a child could change does a bonus. And out some people audio right but I there's a huge turnover of people out."

" Really can be I guess I can see that when you talk about that up for -- if you get a -- then yes you're right he can't. You can't expect to get another high year so yeah why not check out and start -- and immediately and then maybe."

" Yeah anybody cost anybody calls and run up numbers and their big -- absolute you know that's that. An employee."

" If you're young -- and you don't have your quarters and for Social Security you can you can maybe get him enough quarters it's to collect Social Security to be four year old star break it down right."

" The other thing is don't nobody -- I don't that the way the state commander retired George mallet nobody appearance is due the 25 -- thing anymore. It's very similar to. You know the way they -- they -- 620. You're really got to hang around a long time so nobody appears getting dot if you start at statewide you're working until you're sixty."

" Really yeah tonight. Lee had almost a dog they had to do something about that -- all the way to grab a rock that's like that's it's regarded back in my the united Joe's first and oil long dark yet. Thanks for the call Jakarta."

" What one of the reasons why California is in such deep do do -- is that they they changed their retirement system to make it easier to go out early. Bennett's shoes and then the unions push through this thing with Eddie was your Gray Davis times. Yeah and -- they pushed it through when they said all know this is just the technical change it way way there's not that that the public is not gonna be on the hook for any more and of course now holds the the state is issuing IOUs. That some bad and that's how bad off at us Patrick your -- with Howie Carr go ahead Patrick."

" good what what they've opened. Be careful over --"

" our forward you know flush the toilet now."

" I know the Fleischer don't ICI can call the Fleischer. 18774694322. We ridiculous sport and an -- trying to lull me to sleep by wishing me good luck but I recognized. I recognized his low rent accent. 1877469432. -- I'm Howard --"

" Sure does have no dog dirt isn't."

" 18774654322. Here's one unsigned fax oh please how many of these early retirees are going to be desperately -- Social Security at age seventy so they can claim the higher amount. I and you can do that some private and some state pension funds but I don't I know you can do that we're Social Security. And please tell those retired at 62 not to complain about their fixed income woes ten years from now keep working even a few hundred a week makes a difference. I think a lot of them planned to keep working they just went to keep working they just -- to keep working illegal alien style if you know what I remained. Under the table Bruce your next with how we cargo ahead Bruce. -- Bruce is gone Dave your next with how we cargo ahead --"

" I. Like I told my wife I'm 46 NG they're cool what about retirement and I -- retirement I'd prepare you record I hit after I'm dead and left arm locking. Them. Speculating they're going."

" Yeah 46 I don't think there's too much and I hope Ferraro for -- much Social Security per day if it. Aren't quite well. What are your friends think does anyone disease is anyone in your age group thinking about retiring and Social Security. -- I sorry thanks for the call Dave -- may itself -- imports 6943. To do was such an absurd question he had to throw out he had withdraw one of those proscribed. Words. Sell your next with Howie -- go ahead south."

" I don't know how -- are in a while. You're doing a great -- usual X. I don't call recruit you associate don't want probable -- Bob Carmichael reject our talk about Social Security yes -- I guess sixty tool. I know that a shame that -- police 65 and seven months I can get -- more -- That's the order that I knew all along -- if you don't actually know. And undermine like you always sit -- our award does seventy -- and then I'm gonna grab it get shorty diapers 68. -- So I can collect in the mouth around sixty different sharing into the borrowed 28. Diplomat and not a bad deal. But I'd I'd recommend it to grab it at 62. Because you never know which got a -- and you don't know you're gonna make it."

" That's that's my advice and everybody have ever talked to understood. The actual actuarial tables is told me big rabid as early as possible so well."

" Revenue which article go to."

" Thanks out. Bernie here next with how -- god no don't have time we're out of time 1877469432218774694322. As long as they totally knocked me out in May be utterly unconscious. I think I'll be fine. -- in the rush to wake up being that -- final wake up until Saturday or Sunday that would be fine as well. 18774694322. -- Room for many Americans millions and."