interesting way to game social security

Financial Planning - Financial planning in general. (Moderated) 

  Yahoo!   Google   Windows Live   del.icio.us   digg   Netscape

Subject Author Date interesting way to game social security rick++ 02-18-2008  Re: interesting way to game social security Douglas Johnson 02-18-2008  Re: interesting way to game social security Mark Bole 02-18-2008  Re: interesting way to game social security Douglas Johnson 02-18-2008  Re: interesting way to game social security Mark Freeland 02-19-2008  Re: interesting way to game social security Douglas Johnson 02-19-2008  Re: interesting way to game social security Puddin' Man 02-20-2008  Re: interesting way to game social security Mark Freeland 02-20-2008  Re: interesting way to game social security sandybeth 02-21-2008  Re: interesting way to game social security Douglas Johnson 02-21-2008  Re: interesting way to game social security Elizabeth Richa... 02-21-2008  Re: interesting way to game social security HW \"Skip\" Wel... 02-23-2008  Re: interesting way to game social security rick++ 02-25-2008  Re: interesting way to game social security Fred J. Tydeman 02-23-2008  Re: interesting way to game social security Will Trice 02-24-2008  Re: interesting way to game social security Douglas Johnson 02-26-2008  Re: interesting way to game social security L 02-27-2008  Re: interesting way to game social security Douglas Johnson 03-06-2008
Posted by Douglas Johnson on February 26, 2008, 1:22 pm > > >> >> The other thing you need to do is keep careful tax records. To get the >> tax >> credit on the repayment, you need to figure your taxes with and without >> Social >> Security on every year you have received SS before the repayment year. >> > >I think this is the part of the "game" that I'd look forward to the most. With TurboTax or equivalent, this is easy. Without them, it would be a real PIA for all but the simplest returns. -- Doug -------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup. Posted by L on February 27, 2008, 5:25 am > in benefits is really only $360/mo. in terms of monthly income. > > Also, assuming you are rich and don't need the money,  then to repay > yourself the $96,000 using the entire increased benefit of $760/mo., my > investment calculator says that it would take almost 9 years (again > assuming 5% interest and monthly compounding of interest).  If only the > real increase of $360/mo. was used it would take over 15 years.   > > In the mean time, if the $96,000 had been left untouched at 5% yearly > interest for 15 years you would end up with about $200,000, an increase > of $104,000, so it doesn't seem to me that there is much benefit until > sometime after the break even point of about 14-15 years -- and you > would be about 84 years old.  If you die much before that, the > government wins.   > > -- > -Ernie- > > -------------------------------------- >Well I think that what has been overlooked is the impact on one spouse income if they claim against the other, e.g., claim against say 20K verse waiting until he gets seventy and they claiming against him. -------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup. Posted by Douglas Johnson on March 6, 2008, 4:35 pm >Article claims you can withdraw a previous application >for social security, pay back 100%, then reapply with >updated-age benefits. Thats is, you apply at age 62, >bank the checks, they re-apply at age 65 or 70 and >get a stepped-up penison. Plus keep returns on >banked payments so far. > >http://www.chron.com/disp/story.mpl/business/5546299.html Here is one more way to play the game. According to: http://finance.yahoo.com/focus-retirement/article/104500/Bewildering-Benefits;_ylt=AsP35SBRic_2_HuGSB6ttZS7YWsA?mod=retirement-preparation Quoting the relevant section: "Let's say Ted and Alice are the same age. He's eligible for a $2,000 benefit at his full retirement age; she's eligible for $1,000 at hers. Alice claims benefits based on her earnings at age 62 and gets $750; Ted, meanwhile, is considering waiting until age 70, to try to maximize their benefits. The problem is that 70 is a long time to wait to start receiving benefits. At full retirement age, though, Social Security gives a person two choices: You can take your own benefit, or -- if eligible -- you can collect just a spousal benefit, and then claim your own benefit at a later date. Thus, if Ted (at full retirement age) takes his spousal benefit based on Alice's earnings, Social Security would award him $500, or half of Alice's projected benefit at her full retirement age. Then, at some future date, Ted can ask Social Security for benefits based on his earnings. (At age 70, Ted would qualify for about $2,640 a month.)" -- Doug -------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup. Similar Threads Posted Social Security questions September 5, 2007, 5:08 pm Social Security Redux September 24, 2007, 2:35 pm Social Security Confusion October 11, 2007, 12:24 pm Social Security Rate of Return January 29, 2007, 5:47 pm SOCIAL SECURITY THREAD CLOSED February 2, 2007, 1:42 pm Social Security Spouse Benefit April 26, 2007, 10:42 am Social Security survivors benefit April 30, 2008, 7:19 pm future Social Security benefits and taxes December 7, 2006, 10:11 am Optimizing Social Security Benefit withdrawal February 9, 2007, 12:34 pm Thread Closed (was: Social Security Rate of Return) February 2, 2007, 8:48 am