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Five Strategies To Get The Most Social Security

Ally6770Ally6770914 posts since
Jan 16, 2010
Rep Points: 2,662
1. Tuesday, March 18, 2014 - 9:25 AM
The government wants us to wait as long as possible by holding out the carrot of "you'll get more money".  Not if we're already dead!  Then they tell us social security is going bankrupt so doesn't it make more sense to grab what you can, while you can?  Those articles must be written by someone in charge of Social Security who is trying to find ways to make it last longer for those of us who are taking it early. 
2
paoli2paoli21,373 posts since
Aug 10, 2011
Rep Points: 6,013
2. Tuesday, March 18, 2014 - 12:47 PM
I don't think you read the article or you did you did not understand what you read. The article states-

Research, however, shows the Social Security Administration’s historical use of “break-even analysis” has the effect of inducing individuals to retire early, according to Jeff Brown, a professor at the University of Illinois.
1
Ally6770Ally6770914 posts since
Jan 16, 2010
Rep Points: 2,662
3. Tuesday, March 18, 2014 - 1:11 PM
I did read the article, even page 2.  I was just stating the way I feel about Social Security.  No matter how they write the articles, the underlying facts to me are that they always encourage people not to take ss early.  If I misunderstood this particular article because I am so programmed by others I have read, I would have posted the same response due to my personal feelings about this subject.
2
paoli2paoli21,373 posts since
Aug 10, 2011
Rep Points: 6,013
4. Tuesday, March 18, 2014 - 2:19 PM
Come ON.  Take it early, and die young = you win.  So What?

Take it early, and live long = = you lose.

If it is just you, and you want to max the hit to SS .... at least wait to age 66.  If married, and yours is higher than the spouse .... wait to 70 if you can.

Lastly, if you can afford to wait to age 70, and then die at 72 ..... SO WHAT?  The point is that if you do happen to live a long time, it will really make a difference.  And unlike savings, it has a COLA ... small, but still adds up over time.

I think you SHOULD look at it as how much do you get while alive (and as a family), NOT how little did I get before I died.
2
Anon456Anon45630 posts since
Oct 30, 2011
Rep Points: 76
5. Tuesday, March 18, 2014 - 3:42 PM
I never looked at it as a win or loose decision. For me it had nothing to do with money.  I looked at it from my health, the health of my spouse and how I could and how I or we wanted to spend the rest of our lives. 
SS employees cannot by law tell you what to do or even what their opinion is. SS employees can only answer the questions you ask. 
To know what to ask and to ask to get the printout for different stages of your retirement  as to the amount and the break even point is your responsibility. The figures  depend on how much you put into the system and if you worked for 35 years and how long you will live. 
Reading the trustees reports and asking questions of the SS employees when you go into the office by appointment was the way to go for me. Even after you think you have everything you need ask the questions "Can you tell me anything more that I be able to use to make an informed decision,  and do you think I now have enough information to make my decision." 
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Ally6770Ally6770914 posts since
Jan 16, 2010
Rep Points: 2,662
6. Tuesday, March 18, 2014 - 3:55 PM
That's one way to do it.  However, my way was "Do I need or want the amount of money I can get at this day and time in our lives?"  Didn't need to get opinions from SS workers or read tons of articles.  Very simple and quick way to do it for "our" lives and we have never regretted it since.  No "informed" decisions needed either.  Just my own.
3
paoli2paoli21,373 posts since
Aug 10, 2011
Rep Points: 6,013
7. Tuesday, March 18, 2014 - 4:45 PM
Good thing you didn't need the opinion of SS workers because it is against the law for them to give you their opinion. 
1
Ally6770Ally6770914 posts since
Jan 16, 2010
Rep Points: 2,662
8. Tuesday, March 18, 2014 - 6:13 PM
I don't know if you would consider it an opinion but the rep did advise me that I would do better collecting on my spouse's SS since I did not have enough credits in my own.  I was really a "stay at home" mom once the kids arrived and didn't work for many years.  Is that considered an "opinion"?
1
paoli2paoli21,373 posts since
Aug 10, 2011
Rep Points: 6,013
9. Tuesday, March 18, 2014 - 6:46 PM
Are you telling me you never received and or never read a SS earnings statement and never knew what your benefits would be? They were sent out since the 90's if you were at least 25. 
2
Ally6770Ally6770914 posts since
Jan 16, 2010
Rep Points: 2,662
10. Tuesday, March 18, 2014 - 8:33 PM
I don't know how you spent your life but I was too busy taking care of the rest of the world and making better lives for others to be so concerned about anything like a SS earnings statement.  I spent most of my life in other states so if they sent them out, I never got them and I did not have a computer to check them on either.  I was so engrossed in doing more important things in my life to be concerned about what my "benefits" were in those days.  I worked very hard in many concerns but not much where I was actually earning "money".  I was more interested in helping others have better lives.  So SS was not an important concern to me until a few years ago when we decided we wanted to collect it.  Frankly, I didn't even know I could collect on DP's earnings until the nice rep shared that with me on the phone.  So what's the big deal?  The government didn't refuse to allow me to collect because I didn't get or read any earlier statements.  They don't test our IQ's in order to receive SS, thank goodness. :)
1
paoli2paoli21,373 posts since
Aug 10, 2011
Rep Points: 6,013
11. Friday, March 21, 2014 - 11:11 AM
So good to hear about readers on this blog who were so busy not to have to need the information about SS benefits until they needed to collect. To not know about wives benefits must have been an amazing bonus for the both of you.  May I on congratulate you on your wonderful planning. 
2
Ally6770Ally6770914 posts since
Jan 16, 2010
Rep Points: 2,662
12. Friday, March 21, 2014 - 2:16 PM
Ok, Ally, let's get our facts straight.  I should have posted "I did not know what my social security benefit would be comparing it to my husbands".  I KNEW there are wives benefits but the kind rep was able to compare both for me and showed I would get more if I went on his instead of mine.  I also found out recently that ss just started mailing out those statements in 1999 and they had to end them in 2011 due to financial problems.  It's not like I went 50 years  in sheer stupidity.

I also would be willing to say that I have a feeling the majority of workers do not read and protect ALL their statements in a golden folder of steel as you seem to do and feel ALL should do.  I think most people wait until they get closer to social security age before they bother looking at the statements.  Too bad we can't take a poll of even those savers on DA.  I think savers are more concerned with how much they can get on their savings than protecting annual social security statements they may not need for years.  If you read your own link you posted about SS, you would learn that social security doesn't even think there is a need for annual statements.  They are considering just doing it every 5 years or closer to one's ss age.  Oh!! Imagine that!  They must know that I didn't save all ours. :)

You may congratulate me on my wonderful planning because since I wasn't wasting my time protecting ss statements, I was able to spend more time learning how to build up the personal savings I needed to protect my family.  I have an expertise in many subjects but I won't waste Ken's space telling you how great I am.  I already did that in a recent PM, in response to yours,  which you probably did not bother to read.   I hope we can keep this discourse off of this thread.    
1
paoli2paoli21,373 posts since
Aug 10, 2011
Rep Points: 6,013
13. Saturday, March 22, 2014 - 9:13 AM
Ally- that's OK.  I forgot to read how great Paoli was as well.  But for sure, he will continue to post personal diatribe until we all do, or attack you until you understand and accept his limited point of view.
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Anon456Anon45630 posts since
Oct 30, 2011
Rep Points: 76
14. Saturday, March 22, 2014 - 9:44 AM
#13:  If you want to join my fan club, you should at least know you who you are bad-mouthing.  I am not the one insisting on having my point of view accepted. Then again, we all misread posts at times so Ally can get by once again with her insistence on getting her point across and I come out with personal diatribe for explaining my point.  Ally- One, Paoli- 0.    Boo Whoo???
1
paoli2paoli21,373 posts since
Aug 10, 2011
Rep Points: 6,013
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