Why Is Everyone Filing for Social Security Early?

Townhall ^ | 07/25/2012 | Carrie Schwab Pomerantz

[Safetgiver]

You are correct, once taken early, there are no do overs later. ...Ah, but there are do-overs. For instance, you get $1300 a month for (let’s just say) 60 months. That’s $78,000. And, just for example, you hit the lottery or your rich uncle leaves you $80,000, you can pay back the $78,000 and refile and get the amount you now have coming to you at 67 years of age. Of course the buying power is lessened, so you may not have gained much. It amounts to about $38 a month per month to run out until full retirement age.

[Safetgiver]

.How is this possible? I used to be so much younger.....That’s what I say!! Hell, if I knew I was gonna last this long, I’d have taken better care of myself.

[sportutegrl]

The surviving spouse gets to keep one check, she can choose which one she wants to keep. Good luck with surgery, both my husband and mother had knee replacement and they are both better than before surgery.

[Irish Eyes]

Thanks for the reply re: Social Security survivor benefits.

I had the knee surgery yesterday, some pain, but not as much as I expected.

My neighbor is having a meet and greet for a great conservative man running for state representative. I really want to go.

[Dianna]

Obama terminated that end of 2010.

Thanks for the info. I didn't think I was THAT out of the loop!

[Dianna]

You are correct, once taken early, there are no do overs later. ...Ah, but there are do-overs. For instance, you get $1300 a month for (let’s just say) 60 months. That’s $78,000. And, just for example, you hit the lottery or your rich uncle leaves you $80,000, you can pay back the $78,000 and refile and get the amount you now have coming to you at 67 years of age. Of course the buying power is lessened, so you may not have gained much. It amounts to about $38 a month per month to run out until full retirement age.

See the link above- apparently this was abolished in 2010.