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Mathjak, I am just ruffling your feathers. You take money too seriously. Of course everyone is different.
i take learning seriously .
our money we worked so hard to accumulate over a life time is one of the most important aspects of retirement unless the pay checks never stop either because you have a pension supporting you or you are working .
everything else is on us to learn so we can make as efficient use of what we have as we can .
social security also involves some of the largest amounts of money over our retirement many will have .
it is important that they learn the correct aspects of it . it can be complex when it comes to survivor
as far as what i use as a portfolio , i have posted it many times , its no secret .....
it changes over time as the bigger picture changes ..
i have 3 different portfolios , each with different goals and function .
i have my 25% equities income model which uses two different stock funds accounting for 25% and the rest is short term treasuries , high yield bond funds and a total market fund ...it has a barbel effect in credit risk as the high quality short term treasuries balance out the higher income lower credit high yield. it is income oriented .
i have my bullet proof portfolio which is 25% each in equity index funds , long term treasuries , t-bills and gold .
the t-bills and long term treasuries form a barbel that has duration about equal to an intermediate term bond fund , but with a lot more oomph .
yesterday as an example stocks fell , long term treasuries were up 2% and gold up 1% .
it was up yesterday .
then i have a 100% equities model consisting of 5 funds that is for money for use decades away if ever .
plus i hiold some bitcoin in gbtc and also a commodities fund .
so now you can stop asking
Last edited by mathjak107; 03-01-2022 at 04:57 AM..
our money we worked so hard to accumulate over a life time is one of the most important aspects of retirement unless the pay checks never stop either because you have a pension supporting you or you are working .
everything else is on us to learn so we can make as efficient use of what we have as we can .
social security also involves some of the largest amounts of money over our retirement many will have .
it is important that they learn the correct aspects of it . it can be complex when it comes to survivor
as far as what i use as a portfolio , i have posted it many times , its no secret .....
it changes over time as the bigger picture changes ..
i have 3 different portfolios , each with different goals and function .
i have my 25% equities income model which uses two different stock funds accounting for 25% and the rest is short term treasuries , high yield bond funds and a total market fund ...it has a barbel effect in credit risk as the high quality short term treasuries balance out the higher income lower credit high yield. it is income oriented .
i have my bullet proof portfolio which is 25% each in equity index funds , long term treasuries , t-bills and gold .
the t-bills and long term treasuries form a barbel that has duration about equal to an intermediate term bond fund , but with a lot more oomph .
yesterday as an example stocks fell , long term treasuries were up 2% and gold up 1% .
it was up yesterday .
then i have a 100% equities model consisting of 5 funds that is for money for use decades away if ever .
plus i hiold some bitcoin in gbtc and also a commodities fund .
I have looked through the SS website and I can not find how to get the numbers of what I could collect if I collected under my ex. We were married over 10 years and I have never remarried.
I think I see where HE could put in the info to find out but I can't ask him to do that.
Does anyone know the process to get that information?
Probably been answered here, but if you are an ex and unmarried and you were married to the ex for more than 10 years, you can get 1/2 of their benefit, if that is higher than your own full benefit. You won't get both. This does not affect your ex's benefit, nor his new spouse if he/she remarried.
"If you are age 62, unmarried, and divorced from someone entitled to Social Security retirement or disability benefits, you may be eligible to receive benefits based on his or her record. To be eligible, you must have been married to your ex-spouse for 10 years or more.
If you have since remarried, you can’t collect benefits on your former spouse’s record unless your later marriage ended by annulment, divorce, or death. Also, if you’re entitled to benefits on your own record, your benefit amount must be less than you would receive based on your ex-spouse’s work. In other words, we’ll pay the higher of the two benefits for which you’re eligible, but not both"
As far as how to get the amount, call SS and discuss it with them. As I recall you have to provide SS a proof of marriage (like a marriage license). Then, they can advise about the amount of the benefit. Makes sense that they would need to have this proof, as plenty of people are trying to fraudulently get benefits.
Probably been answered here, but if you are an ex and unmarried and you were married to the ex for more than 10 years, you can get 1/2 of their benefit, if that is higher than your own full benefit. You won't get both. This does not affect your ex's benefit, nor his new spouse if he/she remarried.
"If you are age 62, unmarried, and divorced from someone entitled to Social Security retirement or disability benefits, you may be eligible to receive benefits based on his or her record. To be eligible, you must have been married to your ex-spouse for 10 years or more.
If you have since remarried, you can’t collect benefits on your former spouse’s record unless your later marriage ended by annulment, divorce, or death. Also, if you’re entitled to benefits on your own record, your benefit amount must be less than you would receive based on your ex-spouse’s work. In other words, we’ll pay the higher of the two benefits for which you’re eligible, but not both"
As far as how to get the amount, call SS and discuss it with them. As I recall you have to provide SS a proof of marriage (like a marriage license). Then, they can advise about the amount of the benefit. Makes sense that they would need to have this proof, as plenty of people are trying to fraudulently get benefits.
Actually just so everyone understands .
Under the new rules , unless you were at least 62 or older in 2015 you actually do get both benefits .
Unless grand fathered in so you can file restricted application,you always get your own benefit first ….no exception ..
Only those who are eligible to file restricted application can have a choice of spousal while letting their own grow .
So to add spousal , they take half your spouse or ex spouses fra amount and subtract your fra amount from it ..
Any difference is added to your own benefit ….
The combined total can never be more than half the higher earners fra amount
So let’s say you take early ss …if your full is 1200 and your early amount is 800 , they take half your spouses fra amount , let’s say half is 1400 .
They subtract 1200 from 1400 and add the 200 difference to your early benefit .
So you would get 1000 in this case ..800 of yours and 200 in spousal.
It will never be half since you took your own early…
So it is important to know your options based on age and whether you are grand fathered in or not.
One little known fact is that if you and an ex spouse are grandfathered in to file restricted application , you can each file on each other and let both of your own to grow .
Married couples can only have one file restricted on each other unlike ex spouses.
Remember , to be grandfathered in you must have been at least 62 in 2015 ….they actually give you a day grace period for those 62 born Jan 1 of the following year
Last edited by mathjak107; 03-01-2022 at 08:15 AM..
If you were not at least 62 in 2015 and grand fathered in , then you cannot let your own ss grow and take half of your spouses .
As a spouse or ex spouse , If you missed the cutoff then you only get your own ss first , and if half your ex’s is more than your full you get the difference added to yours .
Those 62 in 2015 or older can leave theirs alone and take half the ex’s no matter if their own is larger or not. That is called filing restricted application.
It was killed off as an option unless you were grandfathered in
If you were born before 1953 ?, you could collect on an ex-spouse if married over 10 years and then collect yours at age 70????
Letting it grow.
Does the ex have to be collecting? What if he is younger? Is he notified?
Is this retroactive?
(I have a client age 66 in a bad way. She was married for 27 years. Spouse would be older. She just came in to see my husband (CPA) and her SS is awful).
If you were born before 1953 ?, you could collect on an ex-spouse if married over 10 years and then collect yours at age 70????
Letting it grow.
Does the ex have to be collecting? What if he is younger? Is he notified?
Is this retroactive?
(I have a client age 66 in a bad way. She was married for 27 years. Spouse would be older. She just came in to see my husband (CPA) and her SS is awful).
What mathjak posted doesn't apply to her, she is not old enough. My hub will be 65. They're both too young for that deal.
Is her ex still alive? I believe she is still entitled to it, just not entitled the way it used to work. See the reply below
Quote:
Originally Posted by GearHeadDave
Probably been answered here, but if you are an ex and unmarried and you were married to the ex for more than 10 years, you can get 1/2 of their benefit, if that is higher than your own full benefit. You won't get both. This does not affect your ex's benefit, nor his new spouse if he/she remarried.
"If you are age 62, unmarried, and divorced from someone entitled to Social Security retirement or disability benefits, you may be eligible to receive benefits based on his or her record. To be eligible, you must have been married to your ex-spouse for 10 years or more.
If you have since remarried, you can’t collect benefits on your former spouse’s record unless your later marriage ended by annulment, divorce, or death. Also, if you’re entitled to benefits on your own record, your benefit amount must be less than you would receive based on your ex-spouse’s work. In other words, we’ll pay the higher of the two benefits for which you’re eligible, but not both"
As far as how to get the amount, call SS and discuss it with them. As I recall you have to provide SS a proof of marriage (like a marriage license). Then, they can advise about the amount of the benefit. Makes sense that they would need to have this proof, as plenty of people are trying to fraudulently get benefits.
If you were born before 1953 ?, you could collect on an ex-spouse if married over 10 years and then collect yours at age 70????
Letting it grow.
Does the ex have to be collecting? What if he is younger? Is he notified?
Is this retroactive?
(I have a client age 66 in a bad way. She was married for 27 years. Spouse would be older. She just came in to see my husband (CPA) and her SS is awful).
Your husband, as a CPA, should be very familiar with the SS rules. Or, he should be able to quickly familiarize himself. If he has a POA for her he should be able to call SS on her behalf.
If you were born before 1953 ?, you could collect on an ex-spouse if married over 10 years and then collect yours at age 70????
Letting it grow.
Does the ex have to be collecting? What if he is younger? Is he notified?
Is this retroactive?
(I have a client age 66 in a bad way. She was married for 27 years. Spouse would be older. She just came in to see my husband (CPA) and her SS is awful).
If you were at least 62 in 2015 you can do that ..it is called filing restricted application….
If she is 66 now she couldn’t have been 62 in 2015 , so no she can’t let’s hers grow and take spousal .
So she can only take her own ss benefit first and then if due any spousal it will be added in ….
One can get up to 6 months retro if over fra …
Ex spousal benefits do not require the ex spouse files for their own . Nor do they even know ..
If you are going to get a spousal adder from an ex spouse they have to be at least 62
Last edited by mathjak107; 03-04-2022 at 03:11 AM..
Your husband, as a CPA, should be very familiar with the SS rules. Or, he should be able to quickly familiarize himself. If he has a POA for her he should be able to call SS on her behalf.
Just because you are a cpa does not mean you know a thing about social security benefits .
My daughter in law is not only a cpa but runs the tax dept for a world famous hedge fund .
She has no reason to know a thing about ss benefits at this point. …
Auditing corporate financials and doing corporate income taxes has no need to know about ss benefits.
Like every profession , you only know what you have use for .
Anyone regardless of profession can learn about ss benefits ….i didn’t know a thing about them but there are enough easy explanations out there to learn assuming one wants to.
What we learn as well is only going to be pertaining to what we need to know .
I don’t know a thing about child care benefits , windfall provisions or ssdi …no reason I need to
Last edited by mathjak107; 03-04-2022 at 03:24 AM..
There's no law that you can't ever have remarried.
I think the rule states that you can’t remarry before 60, but I am not 100% sure.
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Need to make sure I'm reading this right.....
