Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Thanks for the correction. I think I confused collecting at 62 as a reduced benefit (my plan) with all SS collections - fuzzy thinking on my part.
Not to hijack the thread (but I am going to do it anyway), I plan to collect at 62 and use the proceeds to pay off my mortgage before I hit 66.5 (my FRA). The strategy is oriented toward cost avoidance/ reduced expenses vs. increased SS draw and other income streams. I have an inflation adjusted pension that we live quite comfortably on. The wife collects 55% of the pension if I predecease her - so far so good. So if I collect SS at 62, then suspend SS payments after the house is paid off, and then restart payments at 70, if I read some of the previous posts correctly, my SS payment would increase by 8% each year from 66.5 to 70. Am I reading and understanding that correctly? If so, that may be by far my best strategy to ensure my wife is never out of money if I pass first.
yes , you can stop and freeze your ss any time after your fra
All these multiple ex-spouses getting a SSB may have something to do with all the doom and gloom of the program.
Well it sure doesn't help!
I believe everyone should be covered for health care. I have liberal ideas while not being one.
Ok I'll change my mind and say yes the current one should be covered. However I will stick by that it should be one, not several. Again the spouse paid in for ONE.
Chances are if its been long enough the first wife is remarried or got a job of her own. She can't not work not remarried. Or if ill she's probably on medicaid/medicare.
All these multiple ex-spouses getting a SSB may have something to do with all the doom and gloom of the program.
So the answer is to penalize 2nd wives (actually spouses, second husbands can also collect on their wive's if the dollars work out for them)? Or when someone remarries they get extra taken out of their check if they want the second spouse to get anything? Or the first spouse's calculated amount stops at that year's earning level? What's the plan?
So the answer is to penalize 2nd wives (actually spouses, second husbands can also collect on their wive's if the dollars work out for them)? Or when someone remarries they get extra taken out of their check if they want the second spouse to get anything? Or the first spouse's calculated amount stops at that year's earning level? What's the plan?
Interesting question to think about. Presumably the second wife had some sort of income before she became a second wife. Whether she had a first husband or a job of her own there must have been some means of support before she married and became Mrs Two. Unless some old geezers are picking up their second wives fresh out of school?!
yes , you can stop and freeze your ss any time after your fra
Thanks!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
