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Old 08-05-2017, 11:19 AM
 
Location: SoCal
13,227 posts, read 6,331,374 times
Reputation: 9844

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Quote:
Originally Posted by jaminhealth View Post
I hear this all the time women get along so much better than men being alone after long marriage or marriage in general. Women have friends and hobbies and groups they join and overall do better alone. It took some doing and years but the longer alone, the better alone. I play bridge and that is a GREAT out let mind and social card game, and we have a few men but rooms are filled with women.
I play bridge too and I found women are more fun socially to be around. The men are less social but that to be expected.
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Old 08-05-2017, 11:23 AM
 
Location: SoCal
13,227 posts, read 6,331,374 times
Reputation: 9844
Quote:
Originally Posted by BucFan View Post
Not much advice received, but I do keep reading how being a single elderly person shortens my expected lifespan.....not sure how picking up a nagging wife would make me want to live longer......

Loneliness, living alone may lead to a shorter lifespan - CBS News
My dad lived 25 years longer than my mom. But what he did is joining a lot of church group, the young people ferried him around, he didn't drive after age 70. When he was in a nursing home, they came and talked to him often. No loneliness there. They also came to his funeral. Somehow he planned it well. No nagging wife needed.
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Old 08-05-2017, 12:04 PM
 
71,584 posts, read 71,730,589 times
Reputation: 49178
Quote:
Originally Posted by NewbieHere View Post
Is that your FRA?
no ,fra is 66 . i saw no point waiting as my wife's spousal benefit was pretty large and every month i delayed she did not get it .

65 was a good balance of longevity risk and being market dependent .

i still do some consulting work so i can earn up to 45k at 65 since special rules apply in the year you are going to be fra so as of january i am good to go without giving back checks .
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Old 08-05-2017, 01:37 PM
 
Location: SoCal
13,227 posts, read 6,331,374 times
Reputation: 9844
Quote:
Originally Posted by mathjak107 View Post
no ,fra is 66 . i saw no point waiting as my wife's spousal benefit was pretty large and every month i delayed she did not get it .

65 was a good balance of longevity risk and being market dependent .

i still do some consulting work so i can earn up to 45k at 65 since special rules apply in the year you are going to be fra so as of january i am good to go without giving back checks .
My husband got a letter from Social Security that he has to give back, 2-3 months of last year. Now that they got our 2016 tax return. He made less than $30k last year. He took some consulting work out of intellectual stimulation, not for money of course. But it's ok, I get to convert more money to Roth this year and next because of the pay back to SS.
I'm hoping maybe when they re-evaluate at FRA 66, he will get more money. So I will see whether he gets more money this year or not.
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Old 08-05-2017, 01:53 PM
 
71,584 posts, read 71,730,589 times
Reputation: 49178
yes he will get recalculated , my wife did last year . he can only make about 15,500 or so . the year you turn fra you can go up to 45k . after fra no limit
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Old 08-05-2017, 02:02 PM
 
6,884 posts, read 7,281,254 times
Reputation: 9786
I still haven't seen examples or a list of exactly what advice is -- or should be -- geared toward singles.

If I knew that perhaps I could help those in search of that info find what they're looking for.

Several links were posted and those don't seem to have provided the desired info. So, perhaps more specifics about what info is desired -- besides the generic "advice geared toward singles"-- are needed to help further.
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Old 08-05-2017, 03:45 PM
 
Location: Colorado
79 posts, read 53,773 times
Reputation: 346
Quote:
Originally Posted by reneeh63 View Post
I was just thinking that so much of the tax, social security, pension and investment advice you read about is geared toward married couples. So I looked up to see just what percentage of 65 year olds are married:

In 2015, only 58% of 65 year olds were married...amazing...much lower than I expected given you read so little about singles.

Let's hear from all the c-d singles heading into retirement - are you getting good advice? Are you changing your strategy from what it was if you'd been married before? Do you feel you're getting a fair shake?
Advice is geared to married couples who have high incomes and/or large investments (relative to me anyway). Iím single and 62, with very modest income and investments. These articles scare me, because Iíll think OMG Iíve screwed up! I wonít have millions, my income is low, Iím doomed! The few written for singles tell me Iíll need more savings than couples, but not how much more. And it is particularly unhelpful and irritating when the articles say to start young as the best strategy for singles. Iíll just email that article to my youthful self.

Iíve googled and searched exhaustively for strategies on investing for retirement, and researched ways to pin down a good ballpark number of how much Iíll need. The best advice focuses on understanding and planning based on your living expenses, which is true for couples or singles of any income.

Iíve done what I can to pin it down, except for the massive unknown of healthcare/insurance. I put all kinds of scenarios into firecalc and cfiresim, and have spreadsheets galore. The tools based on living expenses tell me Iíll be fine (if Iím frugal). Yet I look for easy rules of thumb that provide kind of a check to ease my mind. For example - the rule that you will need 80% of your income for retirement. Even though calculations based on expenses told me I wouldnít need that much, it always worried me, because I didnít have anywhere near enough to meet that threshold. What if it was true, and the calculators were way off - I wanted to know for sure! I'm just a worrier.

That worry kind of went away when I got laid off and got a new job with a much lower paycheck that still is enough to meet my needs and a few wants. It so happens that I already have enough investments to generate 80% of my new income. Proof that it's the expenses that matter, not the income.

I have also read that a single person will need approximately 75% (or range of 60% to 80%) of the retirement funds a couple will need. I make that calculation when I read an article geared to the coupled, though it may not necessarily be true for me.

There is no credible retirement Ďnumberí rule of thumb that works for everyone, whether single or coupled.
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Old 08-05-2017, 07:12 PM
 
2,294 posts, read 1,561,151 times
Reputation: 2737
Quote:
Originally Posted by BucFan View Post
Not much advice received, but I do keep reading how being a single elderly person shortens my expected lifespan.....not sure how picking up a nagging wife would make me want to live longer......

Loneliness, living alone may lead to a shorter lifespan - CBS News
Well, not MEEEEE, of course, but I think on average perhaps singles do have more issues that might shorten their lifespan. Perhaps there are some who have health or personality or financial or criminal issues that would make it difficult to have a mate, etc....so, of course, "on average" they might have a shorter lifespan.
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Old 08-05-2017, 08:37 PM
 
Location: New Mexico
6,570 posts, read 3,664,491 times
Reputation: 12362
Quote:
Originally Posted by selhars View Post
I still haven't seen examples or a list of exactly what advice is -- or should be -- geared toward singles.
OK...here's my advice
1. Maximize income and reduce expenses. Going to a casino every day is not the way to do that.
2. Be conscious of risk to your money and your life. Going up on the roof should be a two person activity. Risky investments are not a good idea as you grow older. Always carry your cell phone.
3. Develop a social network if you don't have family close by. Social network friends are nice but you can't eyeball them -- face to face is better.
4. Make a plan for someone to check on you...including getting into your house...if you are not responding or are missing routines or appointments for a couple days for no reason.
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Old 08-05-2017, 08:58 PM
 
Location: Kalamalka Lake, B.C.
3,044 posts, read 4,015,477 times
Reputation: 3898
There aren't many men available north of 65. I think I just got locked in a candy store.
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