Posted on 07/25/2012 2:59:16 PM PDT by SeekAndFind
Only if born 1937 or earlier.
66 for born 1943-1954
That does seem odd. Maybe it involves something like starting benefits, placing them on hold, then restarting. SS regulations are beyond complex.
Otherwise, once you start the payment is set. There may be occasional COLA increases or other family situations that affect the amount.
Up until the end of 2010, they had the “restart” provision where you could pay back everything you had received and start over at any age up to 70.
That was my plan but Baraq killed it off.
http://bucks.blogs.nytimes.com/2010/12/09/social-security-seeks-to-end-free-loans/
You can start receiving at 62 and then when you're 65 or 66 (the age at which you could have received the higher benefit) decide to pay back what SS has paid you and start receiving at the higher amount.
lol...not...but i am sure they will want us both to file and pay!
“You can start receiving at 62 and then when you’re 65 or 66 (the age at which you could have received the higher benefit) decide to pay back what SS has paid you and start receiving at the higher amount.”
Sounds like a plan destined to go awry to me.
Simple. We don't think Social Security will be around much longer and want to get from it as much as we can.
If your spouse is older than you and draws or will draw a bigger SS check than you and will probably die before you, it makes sense to get your Social Security as soon as you can. When one spouse dies and both are on SS, the surviving spouse gets the larger of the two checks.
My father was disabled due to triple bypass in his fifties. He drew a larger check than a regular SS check. (BTW, why does SS disability pay more?) My mother, 8 years younger and healthier than my father, started drawing her Social security at 62. It was a wise decision. When Dad died, Mom got his larger check, so her reduced benefits check no longer mattered.
Incorrect.
See my post above.
Obama terminated that end of 2010.
Bump, my situation exactly. Unempolyed at 60, used 401k to stay a float and until 62, and yes I would rather be working. But who is going to hire a 65 year old programmer?
There is, as some have pointed out, a motivation to draw it before one loses it through change of policy, but most of the attendees didn't really seem too strong on that. What we all were volubly concerned about was changes in healthcare costs as a result of 0bamacare, and naturally the people putting on the seminar didn't have any better idea than we did. Signing up for Medicare is still MANDATORY at 65. You don't have to take it but you do have to register. Kind of reminds me of the draft, lo those many years ago...
Thanks for the info.
How does inflation fit into those calculations? I'm told that social security is inflation-adjusted, but the government's inflation figures are usually artificially low.
So wouldn't inflation make it even longer to catch up?
We would.
We just did.
Thanks for posting. Good timing. I was at the social security office today. The clerk printed out a spreadsheet with some numbers to digest. I planned to file today, but I’m going to spend a few days looking over the numbers. I want some of the money back the socialists confiscated from me. I turned 62 in May and am still working full time.
Get me out of this effen socialist system forced on me.
(I’ll look forward to reading the comments tomorrow as I am off to bed. I have to get up in 7 hours to get ready for work)
/FR
and.....people are tired of working hard......hard work does not pay off anymore....
Get it before it’s gone. The feces is about to hit the oscillating blades.
Same with the increase in “disability” filings.
Frankly, I’m all for crashing the statist’ ponzi systems.
Look at all of their failures...CA, NY, IL, etc. Let them crash. Overload the system to the point of collapse.
You are correct, once taken early, there are no do overs later. What you got is what you will get (except for across the board living expenses for all SS recipients) hence forth.
Take it at age 62+ and draw reduced benefits for three years. Wait until age 65+ and it will take years to equal out for monies in pocket since age 62.
You would not happen to be in the Houston Tx area would you?
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