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Old 11-17-2018, 02:04 PM
 
Location: Nantahala National Forest, NC
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If my ex spouse is living or dies (married 23 yrs), am I eligible for part of his SS?
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Old 11-17-2018, 02:30 PM
 
3,277 posts, read 847,864 times
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Quote:
Originally Posted by greatblueheron View Post
If my ex spouse is living or dies (married 23 yrs), am I eligible for part of his SS?
https://www.ssa.gov/planners/retire/divspouse.html

"If you are divorced, but your marriage lasted 10 years or longer, you can receive benefits on your ex-spouse's record (even if they have remarried) if:

You are unmarried;

You are age 62 or older;

Your ex-spouse is entitled to Social Security retirement or disability benefits; and

The benefit you are entitled to receive based on your own work is less than the benefit you would receive based on your ex-spouse's work."
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Old 11-17-2018, 06:37 PM
 
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there are different rules whether it is an ex who is alive vs an ex who dies .one is spousal the other is survivor and they have different rules and benefits. you can choose survivor while letting your own benefit grow .
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Old 11-17-2018, 09:19 PM
 
2,575 posts, read 4,689,485 times
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Quote:
Originally Posted by NHartphotog View Post
The critical mistake was in GIVING your retirement savings to Washington, even if you ignore the Ponzi Scam aspect (which means everyone after the early Baby Boomers loses). You have no legal right to getting a penny back, though if you live to 100 & benefits aren't cut too much you may get a minimal return on your "investment"...
Social Security is NOT designed as a "savings" plan or an "investment." The money you contribute is not for your use; it's for the benefits to CURRENTLY retired people. When retire, your benefit checks are not you getting your money "back." The next generation of workers is paying your benefits.

You are correct that it resembles a Ponzi scheme, however. When I was taking financial planning classes in the mid-80s, one of my teachers asked the class what a Ponzi scheme is, and I piped up, "Social Security," (which made everyone laugh, but it's no joke) because when it was started, 12 workers were paying benefits for each retiree; then it was 4. I don't even want to know what it is now.
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Old 11-18-2018, 01:54 AM
 
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it is not a ponzi scheme by definition of what a ponzi scheme is .

i ponzi scheme promises profits that do not come from the goods or services claimed , but from bringing in others as a means of supporting it .

all insurance ,pensions and annuities are based on current premiums paying claims . that ain't a ponzi scheme
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Old 11-18-2018, 04:26 AM
 
71,517 posts, read 71,694,121 times
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Quote:
Originally Posted by ddm2k View Post
https://www.ssa.gov/planners/retire/divspouse.html

"If you are divorced, but your marriage lasted 10 years or longer, you can receive benefits on your ex-spouse's record (even if they have remarried) if:

You are unmarried;

You are age 62 or older;

Your ex-spouse is entitled to Social Security retirement or disability benefits; and

The benefit you are entitled to receive based on your own work is less than the benefit you would receive based on your ex-spouse's work."
many seniors were grand fathered in where they can file restricted application and take a spousal benefit regardless of whether their own benefit is higher or not . anyone born pre 1954 has that option . after 1954 you lost that option .

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Old 11-18-2018, 04:29 AM
 
Location: Mount Airy, Maryland
10,460 posts, read 5,924,770 times
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Quote:
Originally Posted by ukiyo-e View Post
Social Security is NOT designed as a "savings" plan or an "investment." The money you contribute is not for your use; it's for the benefits to CURRENTLY retired people. When retire, your benefit checks are not you getting your money "back." The next generation of workers is paying your benefits.

You are correct that it resembles a Ponzi scheme, however. When I was taking financial planning classes in the mid-80s, one of my teachers asked the class what a Ponzi scheme is, and I piped up, "Social Security," (which made everyone laugh, but it's no joke) because when it was started, 12 workers were paying benefits for each retiree; then it was 4. I don't even want to know what it is now.
Nobody is claiming the dollars you contribute comes back to you later in life directly. But it is recorded and your payout is determined by how much you have paid in. So yes it does work like an insurance policy. When you factor in benefits for a spouse who never contributed a dime, that money has to come from somewhere, it's really not such a bad deal and unlike an annuity there is no chance the source goes out of business.
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Old 11-18-2018, 04:30 AM
 
71,517 posts, read 71,694,121 times
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like any insurance based on mortality , those who die pay for those who live . that is hardly a ponzi scheme. all life annuities can pay so much out because they invest in dead bodies besides financial instruments , something you could never diversify in to on your own .

but with the odds of one in a couple making it until 90 at almost a coin toss chance of succeeding , ss never anticipated life expectancy for so many to reach these numbers.

thrown in the fact ssdi soared to unprecedented levels with lots of abuse and fraud and you can see where ss is running in to a snag .

but it will be funded just fine . fra will be pushed out over time for those not grandfathered in at some point ,you can almost bet on that .

i can see spousal being modified a bit too . they already started by doing away with file and suspend and restricted application .

they also put deeming in to effect so everyone automatically always gets their own benefit first with no choices for switching to spousal if you were not grand fathered in .

spousal now is where you always keep your benefit and any extra you are due gets added on ,never to exceed 1/2 the higher spouses amount , except for survivor which has different rules

Last edited by mathjak107; 11-18-2018 at 04:43 AM..
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Old 11-20-2018, 05:31 PM
 
Location: Ohio
19,903 posts, read 14,228,365 times
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Social Security has increased the PIA for 2019.

It's now 90% of $926 and then 32% of everything between $927 and $5,583.

That means the base amount has increased $28 from $805 to $833.
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Old 11-21-2018, 06:41 AM
 
798 posts, read 211,610 times
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With most households including two wage earners and their employers paying into social security and spousal benefit being the larger of own benefit or half spousal benefit, this should help stabilize social security over time.

Many people do not appreciate the cost of spousal benefit for spouses (and ex-spouses) who did not pay into social security. Married couple received 1.5 x benefit based on one wage earner's earnings and cost of benefit over two lifetimes with no actuarial reduction.

According to chart estimates, this results in married couple with one average wage earner receiving approximately $400,000 more in lifetime benefits than single counterpart (assuming no ex-spouse benefits) who paid the same amount of lifetime taxes.

Last edited by Maddie104; 11-21-2018 at 07:23 AM..
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