Money

I am the higher earner and also older spouse. I am older by 4 years. Our plan was to wait until I turn 70 to receive the maximum benefit. A year after that my spouse would reach her FRA of 67 and her benefit. She would collect 1/2 of my benefit with a GPO deduction. This is higher than her own benefit. All fairly staright forward. Someone mentioned to me that she could start collecting now (she's 63) her reduced benefit and then switch to my higher spousal benefit when she reached her FRA at 67. Sounded like something we should look into. I called my local social security office and was told that was phased out a few years back. She would be stuck at the benefit when she first filed at 63. Can anyone provide any insight. Mike

Saw a "Free $2 bill ad in the latest 'AARP bulletin.  I Googled BBB and the advertisers name and was stunned by the volume of complaints about this company.  Worse, the nature of the complaints told me this was NO COMPANY that should be advertising in the AARP Bulletin if it was serious about fighting entities that take advantage of seniors.  I think everybody reading the Bulletin casts a jaundiced eye towards almost every single ad, but WHY is AARP not running BBB checks on these advertisers?  If they have dozens of complaints from people, why would AARP allow them to advertise if it wasn't just all about the ad revenue? 

3 comments (1/22/23) I had never paid attention to the area our Social Security Numbers are printed on our YEARLY Social Security Retirement STATEMENT until last week when I received this year's copy in my MAILBOX. I guess I was not paying attention since retiring July 2020. I am signed up to get everything ONLINE, but for some reason they INSIST on mailing ONLY this to my apartment address. I can see the ONLINE version, so why mail me a PRINT COPY? Hmmm, suppose a dishonest postal worker opens the envelope which is obviously just 1 sheet and from the Social Security Administration. Suppose our mail gets stolen or delivered to the wrong person. I would have thought using the usual x's would protect us. Example, xxx-xx-1234. ➡️  To reply, click on reply button at bottom of this post. Enter your text. Click reply button again. ⬅️ Thank you,Nicole (Social Security Forum)

I applied for SS retirement benefits on August 17, 2023. At that time I also applied for disability but to be honest I wasn't hopeful for that. My retirement is at step one of 3 and my disability is chugging along. When I applied I checked a box stating I wanted to get my retirement benefits while I was waiting for a disability decision. So after 3 months I called in and was told I didn't apply for retirement benefits. When I log into my SS account both applications are listed. She told me I would get a phone call in 2 months. I waited a couple of weeks and called to check to see if she changed anything and the person told me again that I didn't apply for retirement. I called the local office intending to go in and just get this straightened out once and for all and she told me that they aren't doing it in person but gave me a phone number. I called that and the man gave me the phone number of a case manager. I must have left 10 messages and never heard back. I don't know what to do. A

I applied for Medicare part B during the last week of December to presumably begin in January.The SS website says my Medicare premium should be $174.60 but the check I just got has a medicare deduction of $339.60. I have no Part C or D with medicare. Would I be correct in assuming that the reason the premium is this big this month is because I was billed for both January and February and that starting next month the premium will revert to the $174.60 amount? 

 Hello, Can someone please help me sort out my medicare premiums problems?  Here's the issue.  After working for a company for 44 years I retired in Feb 2022 at the age of 64 and received early retirement severance pay for the remainder of the year .  The severance covered income and  COBRA health insurance payments for 2022 since I also lost company health insurance.Upon turning 65 in Jan 2023 I applied for medicare.  They said my premiums would be over $500.00 per month because of my 2021 income.   Mind you, I did not work or earn any income in 2023 and will not in 2024.  They're stating I still have to pay the high premium because they're now looking at 2022 income.They look at 2 years prior income instead of current year income.  Can anyone provide advice on how to proceed?Thanks.🤔

With about 2 year left on a 20 year policy, we know the rates will go up - quite a bit being 68 in 2024. What alternatives do we have? Take out smaller policies of a smaller denomination?Can I sell our policy and cash it out like shown on TV?Renew the policy as my current age verse 70? Anyone had to think about this and what they came across in assessing this type of scenario? Thanks.

We went with Hartford Insurance two years ago because it was associated with AARP. Our first year increase was nearly 25% with no accidents or tickets. This year Hartford is raising it an additional 35%! These increases without cause are ridiculous. AARP for the most part represent seniors on a fixed budget how do they justify associating themselves with a company that price gouges seniors?

The IRS Free File is available today.  Only a few percent of people eligible to use it do.  It has been available for over twenty years.  I have used it for three years and wish I had done so sooner.  It is free for those earning under $79,000.  Those making more should be happy they earn so much.

Beware of att ! Att offered aarp discounts only to sucker you in to their extremely poor service. Customers beware you will wait for 30-40 minutes only to be transferred wait again. Billing is inconsistent and goes up up up! You will regret ever signing up with this rip off company ! Stay away

It seems like a simple question, but I cannot get a straight answer, arrg!!! Help! If I retire at 64, and no longer work, and I decide not to take SS benefits until 67, will the SS amount continue to grow by waiting those 3 years? If it does not, I should just start taking it at 64, right?

In 2004 my car was repossessed by Triad Financial Corp., and resold. Friday, January 5th I received a letter from Business Administrative Services LLC., on behalf of Oakfield Investments LLC., offering a one-time offer of $617.26.  If I do not pay this amount Business Administrative Services is saying they will to file a 1099-C for 2023 with IRS in the amount of $6,172.58. Is there a time limit on debt collection? Can they do this and claim this as income from 2023.  I am a retired 81 year old senior.

I will turn age 70 on June 1 and plan to start taking Social Security then in order to get the highest amount. So I have a timing question: Do I have to have first turned age 70 to do this? For example, should I tell them to start me on July 1,  2024? Or if I tell them to start me on June 1, 2024 is there some  risk that they will pay me at the lower tier?

As the market continues to experience volatility, people in or nearing retirement are seeking ways to protect their savings. Fixed income investments and annuities can provide a stable source of income and help mitigate the risks associated with market fluctuations. Fixed income investments such as bonds, CDs, and money market accounts offer predictable returns. While they may not generate the same level of growth as stocks, they provide a steady stream of income that can help cover essential expenses in retirement.Annuities are contracts with insurance companies that provide guaranteed income payments for a set period of time or for the rest of your life. Annuities can offer a number of benefits, such as:Guaranteed income: No matter how the market performs, you will receive the agreed-upon income payments.Tax-deferred growth: The earnings on your annuity grow tax-deferred until you start receiving payments.Death benefit: If you pass away before you have received all of your annui