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Old 02-17-2016, 12:47 PM
 
Location: Florida
4,402 posts, read 3,738,344 times
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Delay SS as long as you can. Consider the SS payments you do not get as the cost of an inflation adjusted annuity for the increased monthly payment.
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Old 02-17-2016, 12:53 PM
 
1,076 posts, read 1,122,724 times
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Quote:
Originally Posted by midwestcowboy View Post
Good Morning all;
There's been alot of "Doom and Gloom" ads on the tube about Social Security benefits being changed come May 1st... No real info provided unless you go to a seminar. I'm retired, just turned 62, but unless I'm gonna get screwed by holding off a year or two, don't need the SS income as yet. Whats your thoughts? Thanks
Did you turn 62 on or before January 1st? Are you married or divorced? If divorced were you married more than ten years?
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Old 02-17-2016, 01:42 PM
 
Location: Idaho
4,679 posts, read 4,511,339 times
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Quote:
Originally Posted by ilovemycat View Post
There are more complicated rules affecting you if you retire right around your 65th birthday...
Wonderful. I'll be retiring next March, (not this upcoming one in a couple of weeks, the one after in 2017), at which time I'll be 65 and seven months. I'll probably delay SS for a few months until I reach my FRA.
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Old 02-17-2016, 02:41 PM
 
3,567 posts, read 2,384,188 times
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Quote:
Originally Posted by FiveLoaves View Post
Is there any more rigged government statistic than the COLA as applied to Social Security ?? When you leave out Food and Fuel costs, the COLA is flat......which is great if you don't have to eat or drive someplace !!
Including food and fuel would be problematic because they fluctuate so much. Benefits would go up and down a lot, unpredictably.
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Old 02-17-2016, 02:45 PM
 
Location: NC
6,601 posts, read 8,057,841 times
Reputation: 13603
Would someone please explain that "hold harmless" comment? What is held harmless?
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Old 02-17-2016, 03:02 PM
 
4,496 posts, read 4,766,293 times
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What are the more complicated rules if you retire around your 65th birthday?
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Old 02-17-2016, 03:59 PM
 
72,227 posts, read 72,198,066 times
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Quote:
Originally Posted by luv4horses View Post
Would someone please explain that "hold harmless" comment? What is held harmless?
if you are collecting social security your increases in medicare can never be more then the cola adjustment .

last year saw no cola increase so even though medicare went up in 2016 if you are collecting you got no increase .

if you didn't file or file and suspended you get the increase
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Old 02-17-2016, 04:00 PM
 
72,227 posts, read 72,198,066 times
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Originally Posted by brava4 View Post
What are the more complicated rules if you retire around your 65th birthday?
none specifically without an actual question .
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Old 02-17-2016, 04:01 PM
 
72,227 posts, read 72,198,066 times
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Quote:
Originally Posted by FrankMiller View Post
Including food and fuel would be problematic because they fluctuate so much. Benefits would go up and down a lot, unpredictably.
THIS IS FALSE .

the cpi index used for social security INCLUDES FOOD AND ENERGY .


"none of the prominent legislated uses of the CPI excludes food and energy. Social security and federal retirement benefits are updated each year for inflation by the All Items CPI for Urban Wage Earners and Clerical Workers (CPI-W). Individual income tax parameters and Treasury Inflation-Protected Securities (TIPS) returns are based on the All Items CPI-U."
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Old 02-17-2016, 04:26 PM
 
72,227 posts, read 72,198,066 times
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Quote:
Originally Posted by FiveLoaves View Post
Is there any more rigged government statistic than the COLA as applied to Social Security ?? When you leave out Food and Fuel costs, the COLA is flat......which is great if you don't have to eat or drive someplace !!

When they're telling me that Inflation was flat last year, it's measured by their metric, not mine. We have yet to see how the Hold Harmless clause is implemented over time.

In my Opinion, the NPV is the bigger data point. But again, it's a personal decision, one we all make for ourselves.
you are wrong . the index used for the ss cola definitely includes food and energy .

this is what happens when misinformed people parrot other misinformed people .
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