The NoCo Financial Freedom Journal

  There are many opinions out there about whether to take social security when first eligible at age 62, wait until full retirement age (around age 67 for most folks), or even wait until age 70 when the social security benefit is at its maximum.  So, I thought I would throw my own opinion (about how I am doing it for ME) into the mix and give my reasoning so that you can see how it applies to my particular situation.  This will give you an idea of what factors I considered, and what issues you may need to consider for your own situation. Basically, the mainstream schools of thought out there are to take it as soon as possible so that you can maximize the amount of total money drawn over your expected longevity, or take it as late as possible so that you can maximize your monthly income.  Then, there is the issue of how soon that income is needed.  If you are married, that will also affect when you want to start taking it.  Whether or not your spouse worked, and how much social security

I hate car payments! For one thing, a vehicle depreciates immediately the minute you drive it off the lot.  For another, if you find yourself buying a brand-new car every few years, you have doomed yourself to never-ending car payments and the debt that comes with it.  And I better not find out that you are LEASING a car every few years, or man - I will hunt you down!   Do you really need that new car every few years?  Or would you rather take that car payment and turn it into a "vehicle" (pun intended) where you are paying yourself each month?    One of the ways that you can pay yourself each month is by not going into debt.  My philosophy is that once you have saved that emergency fund, start saving up for expenses like this where instead of buying a brand new car (and taking on car payments) every few years, you pay cash for a really good used car, keep it well maintained, and make it last for a while. Since "retiring" from my old 9-5 job, my new endeavor is buil