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Old 01-25-2017, 12:32 PM
 
674 posts, read 840,365 times
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We had our semi annual phone conversation with our Fidelity rep. I thought I read here that the SS calculator they had for various scenerios was for the 7 figure clients, and was very happy when my rep said any client can have this done for them. I got it back but it really didn't give me exactly what I wanted, but it was VERY good. Which brings me to some questions. Has anyone used their calculator? Does it give actual amounts for different scenerios? I thought it did and I explained to the rep I wanted that for comparisons. If we both take it at FRA I would get half of his which is almost equal to mine on my own. Can't I let mine grow and switch over at 70? I was looking for charts that compare the different scenerios of taking it out at different ages and I thought their prigram could do this. Thanks
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Old 01-25-2017, 12:36 PM
 
71,657 posts, read 71,801,099 times
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the fidelity ss tool merely determines the scenario with the biggest bottom dollar .

for us it was a pretty complex plan .

my wife is older than me so she started collecting at 62.

the fidelity social security optimizer had her stopping her early benefit now at her fra and letting it grow again until 70 . . .

i am still delaying and will be 65 .

at 70 she refiles for her bigger benefit

i will be 66-10 months when she files at 70 . so i file restricted application for 1/2 hers .

at 70 i get my own and since 1/2 my full is more than her full she gets a spousal adder of 4500.00 to her benefit when i file .

that is the kind of stuff the fidelity ss optimizer does . it looks for the biggest bottom line .

you now have to take that plan and use it in the on line tool which is the fidelity planner , it used to be called RIP , the retirement income planner . then it incorporates the ss in to your actual plan showing the rmd's , spending and all with the bigger checks.

Last edited by mathjak107; 01-25-2017 at 12:49 PM..
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Old 01-25-2017, 12:51 PM
 
674 posts, read 840,365 times
Reputation: 1191
Thank you Mathjak. Your plan sounds a little like the old file and suspend which I thought was abolished, unless your wife was collecting prior to its demise.

My husband is 63 1/2, I am 61. I'll have to mull around the Fidelity planner a bit now. That site needs instructions!!
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Old 01-25-2017, 12:56 PM
 
71,657 posts, read 71,801,099 times
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file and suspend is gone . restricted application is still allowed for us .


the difference is restricted application requires my wife to collect a benefit in order for me to get 1/2 .

file and suspend would have let her file , me file for 1/2 hers and then she suspends and lets hers grow while i still get her benefit . that is gone for us .
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Old 01-25-2017, 12:58 PM
 
71,657 posts, read 71,801,099 times
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Quote:
Originally Posted by saralvr View Post
Thank you Mathjak. Your plan sounds a little like the old file and suspend which I thought was abolished, unless your wife was collecting prior to its demise.

My husband is 63 1/2, I am 61. I'll have to mull around the Fidelity planner a bit now. That site needs instructions!!
it is pretty easy to use . it works best if you actually enter your expenses .

i don't bother , i just throw in a monthly spending number and keep raising it until i don't do well . then i back off and that is our maximum goal post .

it works best off expenses because it is smart enough to raise medical costs and long term care costs by more than the regular rate of inflation .
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