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Re: Are You Savvy About Social Security?

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Message 21 of 59
Thank you for the info. if on SS disability until i reach 66 and im only 51. Then why was i forced to join medicare and have $104.00 taken from my check for part b? Retirements 15 years away but im forced leave workforce and wish i could still work at least parttime.
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Re: Are You Savvy About Social Security?

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Message 22 of 59
If you are on SS disability nothing will change. You are receiving what you would have received at your full retirement age which I assume was 66. You will continue to get this amount plus any of the cost of living increases that everyone gets. That COL increase is figured with the increases in the COL of the 3 summer months. We shall know soon if there will an increase in Jan. The only that that will happen when you reach full retirement at 66 plus is that you will be considered receiving a retirement check rather than a disability check.
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Re: Are You Savvy About Social Security?

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Message 23 of 59
Im disabled too at 51 and get $1895.00 third wed every month dont know for how long or at which real retirement age it will drop drastically im told.boo hoo i paid $800k to SS over my working career for 36 years and the year a letter from them said employers no longer will deduct SS from payroll i went on SSI 2, years, later automatically on Medicare and, $104.00 for part b is taken from my check every month and i havent used in the 4 years ive been disabled. if i waived part b due to age i would have paid thousands when i hit retirement age. System so screwed up.
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Re: Are You Savvy About Social Security?

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Message 24 of 59
yes
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Re: Are You Savvy About Social Security?

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Message 25 of 59
That's so sad and I can't imagine what ur going thru. My husband worked at the same job for 28 yrs and past away last year but he had great, great knowledge financially and had accounts I didn't even know about, but thank goodness he left me in good hands, I am so grateful for that for I know well about struggling
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Re: Are You Savvy About Social Security?

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Message 26 of 59
I am disabled and I get my check the 2nd Wednesday of every month.
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Re: Are You Savvy About Social Security?

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Message 27 of 59

@smdgf1203 wrote:

I too find myself in a very similar situation. My husband passed away 7 years ago. in his wook time, he made 4 times more than I ever have. I will be 64 in July, but due to job eliminations, I'm looking into early retirement. In order to stay working at another position, I now must take a test (quite a hard one considering I graduated in 1968) and pass it with a high score. I've been it the drop for 2 years. If I fail & can't be placed, I lose my two years. I have an appointment with SS in a few days.

I don't need the Insurance, so that's a blessing, but I think I will take my own whitch is 600.00 less than waiting until 66, for my for my husbands. So stressed out!!!

--------------------------------------------------------------------------------------------

 

You do know that as a widow, you can draw your deceased husbands benefit based on his earnings
If you take it early, the same reduction would still apply but you would be starting at a higher beginning.
Social Security:  Survivors Planner: Survivors Benefits For Your Widow Or Widower

 


* * * * It's Always Something . . . Roseanne Roseannadanna
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Re: Are You Savvy About Social Security?

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Message 28 of 59

I too find myself in a very similar situation. My husband passed away 7 years ago. in his wook time, he made 4 times more than I ever have. I will be 64 in July, but due to job eliminations, I'm looking into early retirement. In order to stay working at another position, I now must take a test (quite a hard one considering I graduated in 1968) and pass it with a high score. I've been it the drop for 2 years. If I fail & can't be placed, I lose my two years. I have an appointment with SS in a few days.

I don't need the Insurance, so that's a blessing, but I think I will take my own whitch is 600.00 less than waiting until 66, for my for my husbands. So stressed out!!!

 

Not to savvy

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Re: Are You Savvy About Social Security?

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Message 29 of 59

There is a website that will run monte carlo simulations on your specific situation and produce a report that shows you the best time to take social security to maximize your lifetime payouts. I wrote a short article on this: http://www.teknigal.com/blog/maximize-social-secur​ity-payouts

 ********************************

If you can retire when you want to ---and can afford it then I say look into maximizing your payments.   Noone can predict how long they will live.   ( Personally I took my SS as soon as I could get it and I'm far from being affluent ----I feel I would have died earlier because work is stressful---co-workers can be stressful and even sitting hunched over on a computer is stressful----)   

 

When somebody in Washington proposes raising the retirement age for Social Security or Medicare, he typically says something like: "We can afford it, because we are living longer." Yes, We can afford it, when the We in that sentence applies to an audience of white rich old men and women who really are seeing their lifespans grow by leaps and bounds    . But We doesn't apply to the millions of   poor  or even middle class   whose lifespans are actually declining.    Raising the Social Security retirement age disproportionately reduces lifetime benefits for the very people Social Security was invented to protect.   MANY  others have made this point before.

 

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Re: Are You Savvy About Social Security?

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Message 30 of 59

There is a website that will run monte carlo simulations on your specific situation and produce a report that shows you the best time to take social security to maximize your lifetime payouts. I wrote a short article on this: http://www.teknigal.com/blog/maximize-social-security-payouts

 

Hope this helps!

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