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Old 04-06-2016, 01:37 AM
 
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ha ha ha this is true , dead is dead , he is gone

Last edited by mathjak107; 04-06-2016 at 02:55 AM..
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Old 04-06-2016, 02:31 AM
 
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Quote:
Originally Posted by Lemming95 View Post
You will lose two years of income say 2000x12x2=48,000 Your gain of 8% for 2 years would get you m/l 155 per month. To make up that 48,000 would take around 25 years. If your spouse is 20 years younger maybe it is worth it.
i just realized you made a mistake , it is not a gain of 155.00 a month , , that is only the gain if you delayed 1 year , over two years the increase would be 310.00 a month plus colas .

if you look at the chart in the link , an age 68 payment of 1160.00 a month x 12 is 13,920 ...

2 years is 27,840 not collected in checks if you delay .

the 70 benefit is 1320 a month x12 is 15,840.

that is a difference a year of 1920.00 giving us 14.5 years to break even , less with the cola differences . that makes more sense then 25 years .


we are pretty much doing a stopping of benefits as part of our plan .

my wife is 2 years older then me so she started collecting an early benefit at 62 . now that she will be fra this year she is stoping her benefit until 70 and letting it grow .

when she files at 70 i will be 67-10 months so i will file restricted application for 1/2 hers until i am 70 .

when i file for mine she gets an adder of 4200 a year to hers since 1/2 my full is more then her full .

all in all that will decrease our dependency on stock markets and interest rates greatly .

the fidelity investments social security optimizer tool came up with the combo plan . the tool is brand new for them and is only available as an in house tool used by them . i requested a consultation with it .


https://blog.socialsecurity.gov/the-...you-to-retire/

Last edited by mathjak107; 04-06-2016 at 04:00 AM..
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Old 04-06-2016, 03:23 AM
 
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Quote:
Originally Posted by lenora View Post
It's not all about money. Unlike a single woman, a divorced spouse may not want a constant reminder of the ex but apparently has no choice in the matter unless she refuses to apply for retirement benefits. All correspondence regarding both her SS benefits and Medicare will only have his SSN attached.

OTOH, if the ex has died...
i guess if she wants his money or the reverse , the reminder goes with it .
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Old 04-06-2016, 07:14 AM
 
Location: Whidbey Island, WA
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We had the conference call yesterday and he confirmed that we can't use file and suspend but he did talk about Restricted Application and will be happy to work out the best strategy for $350.00 which I found fair. My spouses SS will be about $1,000. and mine about $2,200.00 at FRA. It has been my plan to delay taking mine until 70 ($3,100.00). I think it would be best for my wife to get 1/2 of my benefit when she files. At least that's what I think. In addition, I explained that we have little in savings (former GM lost a few M's in the bankruptcy...thanks so much) but own a home worth about 300k due to be paid off in a few years.

Thoughts on restricted app appreciated....mathjak better get some sleep. lol
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Old 04-06-2016, 07:16 AM
 
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I am a sleep by 8:30pm usually , always was an early riser .
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Old 04-06-2016, 07:39 AM
 
Location: Whidbey Island, WA
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Quote:
Originally Posted by mathjak107 View Post
I am a sleep by 8:30pm usually , always was an early riser .
me too. nothing like the dawn. what do you think about our scenario above?
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Old 04-06-2016, 08:14 AM
 
Location: Baltimore, MD
3,745 posts, read 4,213,572 times
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Quote:
Originally Posted by mathjak107 View Post
i guess if she wants his money or the reverse , the reminder goes with it .
I don't think it matters whether she wants his money or not - it appears that she will receive it once she applies for her benefit. (Rather than rely on SSA's general info, I'm going to have to check the actual regs and POMS to see if in this case SSA will force the deeming of her application. As you know, the term deeming removes all choice.)

OTOH, unlike a married beneficiary, an ex-wife will not have her benefits suspended if her ex decides to suspend his benefits. Nevertheless, having experience in both social security and family law, I'll give you 10-1 odds some jerks will suspend their benefits while separated but not yet divorced.

As a side note, I cannot believe I think of this stuff while showering, reading online, etc.

Back on track, a reminder to those who cannot follow all of the numbers thrown around in the prior posts (which could possibly include me), the initial 8 to 32 percent delayed credit is applied after the COLA is calculated. IOW, the additional delayed credits are not subject to the compounded COLAs incurred while you are earning those credits.
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Old 04-06-2016, 09:33 AM
 
Location: New Jersey
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This is confusing. How can someone be born in 1953 and have already reached full retirement age? They would only be 63 years old in 2016.


Quote:
If you were born before January 2, 1954 and have already reached full retirement age, you can choose to receive only the divorced spouse’s benefit and delay receiving your retirement benefit until a later date.
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Old 04-06-2016, 09:38 AM
 
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because it is referring to filing restricted application on the spouse which is being phased out as of 2020 . you are grandfathered in if born in 1953 or earlier . but to file restricted application you must be at least fra when you do it .

that option will be no longer possible for someone born after 1953 . all they get is their own with a potential spousal adder if 1/2 the spouses full is more then your full , but you cannot let your own grow ,.

so as an example I am 63 and grand fathered . when I am fra I can file restricted application on my wife as long as she is collecting .

Last edited by mathjak107; 04-06-2016 at 09:49 AM..
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Old 04-06-2016, 09:39 AM
 
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We married when she was 53. She told me that she didn't give it a thought about asking SS about survivor benefits until now. And, wondered why SS didn't contact her about this.

Anyway, about the "divorce, collect and then remarry" thing, we mentioned it and laughed about it as well. Because of our personal beliefs about marriage, "no" was our answer.

Quote:
Originally Posted by lenora View Post
If she married you after she reached 60 years of age, she would be eligible for the survivor benefits. Since she is now over the age of 60, the two of you could divorce and remarry, thus enabling her to receive the survivor benefits on her ex-husband's record. I would never recommend this because of my personal beliefs regarding marriage, but that's just me.
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