Social Security question/help

You also have to factor in that the spousal benefits will be reduced if the spouse claims it prior to full retirement age. For example, if spouse chooses spousal benefit instead of his/her own, at full retirement age, it is 50 percent of spouses benefit. It is reduced if spousal benefits are taken earlier than full retirement age. If spouse takes spousal benefits at 62, it is 37.5 percent instead of 50.

Now, that is for folks who were born after 1959. Prior to that, it's likely different.

Mike

REMEMBER..... at less than Full Retirment Age and you start to get $$$ and still work...you pay back 1 for 3 over about $16k of working income.... Also you have to pay taxes on the Social Security. Because of my income I would have paid back every dollar I got from Social Security at age 62... But at 65 I can make all the money I want and not pay back any of it.... except in taxes.... Check out your tax liablities.

I had an amazing experience on the phone with a SS employee in Albuquerque.

My wife took her SS benefits when she turned 62. I will wait until I turn age 70 to collect my benefits in about 3 years. My financial guy said that I can collect 50% of my wife's benefits as her spouse, while my benefits continue to increase until I turn age 70.

When I called SS, the woman on the phone helped me enroll for the spousal benefits. I mentioned that we were coming to Santa Fe soon in the MH. She then asked if we knew the area, and offered suggestions for routes and attractions to see. I mentioned that some of the requirements of the spousal program were changing and the phone must be ringing off the hook for her. She said yes, but that she was enjoying talking to me, and would eventually get to all of them. She then offered that I could get those benefits retroactively for the past 6 months. She called the next day and said that a check for $4,000 for me had just been processed.

It was not the conversation that I expected from SS. We had a great trip to NM.

capndan771 wrote:
They are not all deserving of the bashing.

What I can't follow is how they can issue a card in the first place to a misspelled name.

I have visited my local SS office on two occasions and had short waits, spoke to a real person and had my questions answered. The first visit was almost 45 minutes while a very persistent advisor managed to find the error in my name registration that was my fault at age 18. I can't fault my local office or staff in any way. Now the steps to correct the name issue is a little rediculous but even then, the advisor encouraged me to gather the necessary documents and come back to her. She was quite willing to walk me through the correction if I decided to correct a 52 year old mistake on my part. They are not all deserving of the bashing.

I calculated the break even point about a year ago. Break even for me is upper 70's. Im planning on retiring at 62 (good lord willing and the creek don't rise). Wife will draw half of mine, as that is more than hers. I don't know if it will or will not be around for my full participation, but I'll get what I can.

That and two pensions should do me fine.

Mike

Test?

This seems to be all that I can add to this thread? I've tried to cut and paste comments but it doesn't seem to recognize them?

Edit: I was finally able to post my cut and paste comments (Page 4) using an older PC computer. It seems that my newer Mac computers have compatibility/formatting issues with RV.net? I also cannot always open RV.net when traveling in foreign countries with my Macs?

pigman1 wrote:
I don't know how the SS offices are now but when I needed info 13 years ago I went to the local office and spoke to them. I never even considered talking to them on the phone. The system is too complex. They could not have been nicer. They pulled up my account, calculated all my options and gave me all the documents so I could make an informed decision. I decided to go with early benefits and even though I am now receiving less overall than had I delayed benefits, I have no regrets. THE DECISION WAS RIGHT FOR ME WHEN I MADE IT AND REGRETS NOW ARE A WASTE OF TIME. Everyone's financial circumstances and concerns are different, so don't do anything in a hurry. Think it through and do what makes sense for you, now and in the future.

Must have been a different one than the office I am familiar with.
When my Dad died over 10 years ago, my sister went to the local SSA office that was right in their town, figuring like you, that it would be easier to talk with someone in person and not spend forever on hold on the phone. She needed to switch my Dad's SSA payments over to my mom. Believe it or not (but it is true), she waited to talk with someone at a desk, who actually told her that they couldn't help her at the office and then gave her a 1-800 number and told her to "go home and call that number." Now there is government service for you!:M

My wife was laid off from a good job about 9 years ago. Did the whole unemployment deal for 2 years and could not find a job that suited her since she was in her mid 50's at that time..

We decided that she should just 'retire' so she stopped the unemployment reporting.. (guess that's why the unemployment stats have dropped) and I've been the one with the 'paycheck'..

She is going to be 62 in Dec and will be starting her SS payments in early 2017..

We have been managing just fine with only my income, so we are just going to bank her SS payments and I'll keep working forever.. :) I'm 9 years younger than my wife, so it's not really an issue.. Other than I have to work forever! ha, ha!

We did the calculations too and it'll be around the age of 81 for the break even point... I'm all for taking it now, because you don't know what tomorrow is going to be..

Good luck!

Mitch

capndan771 wrote:
..I needed to have my birth certificate, a notarized document from someone who has known me at least 20 years and other criteria.

Backwards security. Ain't it lovely?