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Old 04-15-2014, 09:58 AM
 
Location: Whidbey Island, WA
12,272 posts, read 11,322,717 times
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Quote:
Originally Posted by arwenmark View Post
If you have six years then build up that 401K more during that time.

Oh and about file and suspend at 66. While most people talk about doing this so the other spouse can collect on the first spouses record. it is something worth doing just on it's own if you plan to work beyond 66 to earn extra credits.

Because if during those years you change your mind do to health or whatever, you can then, if you have done file and suspend tell SS that you want to reinstate and you want all those back payments from when you did file and suspend. You will then get the lump sum of what you would have gotten if you had just filed at 66, if you do that, you won't get the extra credits, but you will get a big chunk of cash.

Now if you die, before asking for this cash then your spouse cannot collect that back cash but would get the extra credit amount that you had earned between 66 and time of death, in their survivor benefit.

Just some additional things to consider.
Thanks. Very helpful.
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Old 04-15-2014, 11:54 AM
 
Location: Pennsylvania
16,354 posts, read 10,337,852 times
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Quote:
Originally Posted by luvmyhoss View Post
You can't file and suspend at 62 only FRA.
I did 3 yrs ago, at age 62. Unless they've changed it since then.....?
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Old 04-16-2014, 04:23 AM
 
Location: in the miseries
3,302 posts, read 3,579,301 times
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Quote:
Originally Posted by PAhippo View Post
I did 3 yrs ago, at age 62. Unless they've changed it since then.....?
Please tell me how you did that?
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Old 04-16-2014, 04:59 AM
 
Location: Pennsylvania
16,354 posts, read 10,337,852 times
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called the SS office, told them I'm not retiring yet.

I had to repay the one payment I'd gotten which was fine.
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Old 04-16-2014, 10:45 AM
 
Location: Central Massachusetts
4,800 posts, read 4,846,832 times
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Quote:
Originally Posted by PAhippo View Post
called the SS office, told them I'm not retiring yet.

I had to repay the one payment I'd gotten which was fine.


Yes I was wondering about that as well. I also wonder if it will affect the final numbers. Here is why I am wondering. In 3 years I plan on retiring. I might or might not get a part time job for a couple of years after that. One of the benefits I get from my employment a supliment to my pension meant to carry me over to age 62 ends. At that point I can go to SS office and start but my intention is to go until age 70 to begin to collect. Between 62 and 70 DW and I will live on pension and savings. Everything I read so far has been that to file and suspend was for FRA and that for me and DW is 66.5. I am probably going to be means tested and I will probably not get what I would get otherwise. Still I like to have an idea as to how that will affect our SS.
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Old 04-16-2014, 10:49 AM
 
29,779 posts, read 34,863,854 times
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Quote:
Originally Posted by PAhippo View Post
I did 3 yrs ago, at age 62. Unless they've changed it since then.....?
Did your wife file for spousal at the time? May be two conversations if not
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Old 04-16-2014, 11:09 AM
 
Location: Murrieta, CA
1,268 posts, read 1,507,905 times
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Quote:
Originally Posted by AADAD View Post

I can up my contribution to 401k but you are correct we pay $2450/month in lease here in San Diego. We are looking for land to place a modular unit on with a well and go solar this year. Cost most likely 1K/month for a 89K piece of property and house unit plumbing solar etc. hts....
I live in San Diego too. We are planning on selling our house and moving to Arizona when I retire. I am curious where you are planning on buying the land and putting on a modular unit?

I think you plan is doable as long as you don't live in San Diego. The rent is eating up too much of your income. Leave the state and being a very employable R.N. it should work. In the meantime beef up your savings if you can. San Diego is expensive! I can testify to that.
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Old 04-16-2014, 11:16 AM
 
Location: Whidbey Island, WA
12,272 posts, read 11,322,717 times
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Thanks happyinca. I know about the rents Jeez they are pricey but with 3 new grandchildren within 50 miles of us we are smitten. That said we are going to purchase land or buy here hoping to find an owner to carry in Julian Ramona or Valley Center. The modular is more work than I want but far less expensive. Julian has many burn outs with electric and well which given the current H2O situation we like.
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Old 04-16-2014, 12:18 PM
 
Location: Murrieta, CA
1,268 posts, read 1,507,905 times
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Quote:
Originally Posted by AADAD View Post
Thanks happyinca. I know about the rents Jeez they are pricey but with 3 new grandchildren within 50 miles of us we are smitten. That said we are going to purchase land or buy here hoping to find an owner to carry in Julian Ramona or Valley Center. The modular is more work than I want but far less expensive. Julian has many burn outs with electric and well which given the current H2O situation we like.
That makes sense. Julian/Ramona and Valley Center are all so beautiful, and you won't have the crowds or traffic of San Diego, yet will be close enough for Padre Games with the grandkids or Zoo etc. It is nice to enjoy San Diego without paying to live in San Diego. I work in water so I get your point about the water situation. Sounds like you will do your homework and will fine. Being near grandkids is an important factor. I don't have any but 16 Great-Nieces and Newphews spread all over mainly in CA.

Best wishes I think your plan makes sense.
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Old 04-16-2014, 12:38 PM
 
Location: Central Massachusetts
4,800 posts, read 4,846,832 times
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Quote:
Originally Posted by AADAD View Post
Thanks happyinca. I know about the rents Jeez they are pricey but with 3 new grandchildren within 50 miles of us we are smitten. That said we are going to purchase land or buy here hoping to find an owner to carry in Julian Ramona or Valley Center. The modular is more work than I want but far less expensive. Julian has many burn outs with electric and well which given the current H2O situation we like.

I like modular homes. Yes they can be a bit to deal with but that goes for building any home. What is nice about modular though is the pieces are build under factory conditions out of the weather. The pieces are built to be able to withstand being driven across the highways, picked up by a crane and set into position. I acted as general contractor for my home. I did some of the construction work as well and subbed out electrical and plumbing and the roofing/siding to others. I did interior walls and floors. I wont do that again but it wasnt that complicated for me. What sold us on the modular we chose over all the other options is this manufacturer did heated floors as an option. I love the heated floors.
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