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I wonder what a good age to retire at is. I wish I could retire now. nm

Posted: Jul 21, 2013

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Social security - camt

[ In Reply To ..]
Check with the social security office and see how much you would draw if you retired right now. The longer you work, the more you get.

I have a plan - sm

[ In Reply To ..]
I have my plan to start collecting when I'm 62, because I don't trust the SS system with this current administration. I am currently 59. I am going to take what I can get as soon as possible, after putting into it for 40 years now. It won't be as much as if I wait until I'm 65, but since I fear it won't be there---or will be impossible to get---I'm doing it as soon as allowed.

Hubby is 62, and he has just started collecting. You can still work some while you collect. For years now, we have been getting quarterly (or semi-annually, I forget which) statements from the SS office with a breakdown of how much we'll get if we retire at what age. Hubby's comes to $1100 per month. We also started drawing on an annuity.

FYI: Apply way ahead of time, like 6 months ahead of your 62nd birthday. You'll want it all to kick in as soon as possible on your eligibility date.

you can only apply 3 months before your 62nd birthday sm - Dog and Cat Lover

[ In Reply To ..]
according to the SS site. If your birthday is in June, for example, you won't get your first benefit payment until August (unless your birthday is the 1st or 2nd of June)

All this information is on the site. When you call, you can get different interpretations from different folks. So, read up on it!! They were driving me crazy.

but the break even point is 70 or 72 - L&L

[ In Reply To ..]
Both of my parents and all my uncles died before 62. Get while the getting is good. You can still make 15K a year while drawing early Social Security.

retirement - Freebie

[ In Reply To ..]
I've been going over all this a lot myself. If you go to ssa.gov there is a whole bunch of info. There is a retirement calculator and you can also open an account for yourself and you can download your yearly SS statements where it gives the "if you retire ..." info. I have it figured out that I can start drawing survivor benefit from my late husband in 2 yrs 8 months, then when I'm 62 I can convert to retirement off my 2nd husband and defer my own until I'm 66 and 8 months and then I can draw on myself. It's a significant difference. Also you can call the SS people and they will talk to you about it. I never had any idea about any of this stuff until I got a particularly talkative guy one time on the phone who was really helpful.

retirement - kitty lady

[ In Reply To ..]
You have to be 62 for 30 days before you can draw SS. I turned 62 Tuesday, retired last week when I was just done with MModal. I have to wait until September 18th to draw my first SS check. If you retire at 62 you lose about 20% of your half of what you get on your husband's SS. I took SS on my husband's since he is 66 and retired. They take out $200 each month. I am working 25 hours a week in a grocery store as a cashier to make up the difference and a little extra for spending money since we now live on a very strict budget. I plan on converting to my SS when I am 70 which will give me more money.

And - sm

[ In Reply To ..]
...if you make over $15,000+ per year (I forget exactly, 15,200/15.5000), they take 50 cents out for every dollar. Hubby is drawing his SS now (age 62) and makes $18,000 per year on his part-time job. So, they are taking taxes out on the over-salary of the SS, but we figured out with his PTO benefits at work plus the vision and dental he gets, it's worth it to lose a little to taxes.

We have decided to purchase our own insurance so we are not dependent on a job for health benefits.

"So, they are taking taxes out on the over-salary of the SS" sm - Dog and Cat Lover

[ In Reply To ..]
Not sure what you mean by that. That is not my understanding. Did your husband start drawing his SS this year? The booklets and SS website say if you are under full retirement age and you earn over the yearly limit (for 2013 the limit is 15,120 I believe), they will withhold your monthly benefit payment at some point for that amount over the yearly limit. Your husband might not receive benefits for a few months to cover the amount he went over the limit.

If you retire early, in mid year, you cannot earn over 1260 a month or you won't get a benefit for that month. The second year, you go by the yearly limitation, not by monthly limitations.

I started collecting at age 62 and work part-time. I cannot earn over $1260 a month this year. Next year, I will be hit with taxes on my SS when I do my tax return since we have other incomes.

Still, when I did some number crunching, 62 was a good age for me to start.

ETA: I corrected the amount to $15,120 yearly limit

So - kitty lady

[ In Reply To ..]
I can make 1260 a month for the rest of this year and my first SS check comes in September. I have to start watching my pay as of August 1st. Cannot go over the 1260 per month for the rest of the year or they take the whole next month's SS check. I figured it out and I can actually work 30 hours a week but to be safe, I am only working 25 hours. In January I will work the 30 hours a week and keep track of my pay. Since I work in a grocery store the hours are not regular, one week 25 hours, the next week could be 15 hours, so in June if I make more than 7,500, I will adjust my hours at the part time job to be sure I do not go over the 15,000 you can earn and they start taking away SS. The 1260 a month is only until the end of this year.

when did you fill out the paperwork? nm - Freebie

[ In Reply To ..]
nm

question concerning - survivor benefits

[ In Reply To ..]
I am very confused. I was told that I could not collect survivor benefits on my first husband because I had remarried. My second husband has also passed on now, and I was told I could not collect from either of them. My first husband had remarried himself, but him and I were married for 13 years. My second husband had also remarried but he and I had only been married for 6 years. So, can I collect survivor benefits from my first husband even though I had remarried in the interim?? I could surely use the money, if I can. thank you in advance.

survivor benefits - yes- SM - Freebie

[ In Reply To ..]
Yes. My sister does - she was married to her first husband for 18 years then divorced and married to her second husband for 20 years, then divorced and 10 years later the first one died. She draws a survivor benefit on the first husband (I think because she was not married when he died) and it was retroactive for several months. I would file an application on line. They need all your marriage and divorce papers. Good luck to you.

so that is the rub? - you cannot be

[ In Reply To ..]
"married when they have died?" If that is the case, then yes, I can. My second divorce was in 2003 and my first husband passed away in 2005. I have not remarried at all since my second divorce in 2003. My second husband passed on in 2012, but I don't think I was married to him long enough. If this is the case, I have all death records and marriage records, and this could be a good incentive to get my butt out of this chair and apply! I am encouraged now. I surely hope you are right! Thank you!

Post back after you apply, I'm curious- nm - Freebie

[ In Reply To ..]
nm

To post back after you apply, I'm curious - Freebie....reply

[ In Reply To ..]
well, you asked me to post back, so I am. I spent most of the morning, two and one half hours, applying for survivor benefits. I am 63...you have to be over 60 to apply. I was not married at the time my ex-husband passed on... you cannot be married still and apply... I WILL be receiving 100% of my ex-husband's benefits, I do not have to retire myself, and I can work making $15,000 or less per year, and after the age of 66, if I still want to work, I can earn an unlimited amount and still collect his benefits! With the decline in transcription more so this past year than ever before for me, this is a true blessing! I feel so relieved knowing that I have a bit of extra income coming in now, and will be able to maintain my home without having to worry any longer! If and when I do retire now, I will be collecting his amount of benefits and not my own, because his is 3 times more than mine! So, that is what I found out today. I am happy, and I thank whoever responded about being able to collect survivor benefits if you were not married at the time the spouse passed! Thank you! :-)

post back after... - freebie

[ In Reply To ..]
I think that may have been me and if so you're welcome. I'm counting months until my 60th BD, and it was also good to know how fast it was!

can't apply online for survivor benefits - SM - Freebie

[ In Reply To ..]
Sorry the SSA.gove web site says "A widow, widower or surviving divorced spouse cannot apply online for survivors benefits." Also says
"If you are the widow or widower of a person who worked long enough under Social Security, you can:
•receive full benefits at full retirement age for survivors or reduced benefits as early as age 60."

Waited for SS until full retirement age and - so glad I did

[ In Reply To ..]
I get over $2100 per month with SS and still work part-time and no money is taken back because of my waiting until I had attained the full retirement age. So glad I did.

Took SS at 63 - - so glad I did

[ In Reply To ..]
because I would have lost my house after being laid off from an in-house MT job and could only find a job making less than half the pay. I'm still working full time doing editing and making a tad over the $15,000 max. So they hold an SS payment or 2 next year; I'm prepared for that. It beats being homeless. Your SS payment will rise if you continue working because you continue paying into SS. My monthly payment is now $1200 a month.

ss payments -sm - Freebie

[ In Reply To ..]
The last time I talked to a SSA person my benefit from my ex was only going to be a little over $1000 I think, that's half my ex's. Right now mine says it will be almost 1900 if I defer until I'm 70 but that will depend on whether I can keep working PT till then to make up the difference. As long as my mortgage is paid and my cats have food and litter I think I can handle pretty much anything else, even if it means peanut butter sandwiches with bread from the salvage bread store!

I was under the impression that - sm - XXX

[ In Reply To ..]
to get survivor benefits you had to have kids under by that person under the age of 16, then you and they would get a monthly payment, but once they hit 16 it goes poof. Now if you are of age to receive SS, not married, and they were of age to get SS when they died then you can get their SS benefit providing it is more than what you would draw on your own. But if you are just a single lady not yet 62 (and spouse was less than 62 too) then you get nada because they died. Then once you hit 62 then you can collect, either yours or his, whichever is greater, but not both.

I would think you will be able to collect your first husbands SS since you are not married now, but only when you are 62 and if his benefit is more than yours. Not everyone at SS has a clue , find someone who actually knows what they are talking about.

There is a column by Tom Margenau on creators.com that is great, all about SS stuff. He also has a newletter/paper he will send you if you request it, explains everything clearly.

survivor benefit - Freebie

[ In Reply To ..]
No you don't have to have kids and you don't have to wait til you're 62. Here's what the SSA.gov link says:
"If you are the divorced spouse of a worker who dies, you could get benefits just the same as a widow or widower, provided that your marriage lasted 10 years or more. Benefits paid to you as a surviving divorced spouse who meets the age or disability requirement as a widow or widower won't affect the benefit rates for other survivors getting benefits on the worker's record. If you are caring for a child under age 16 or disabled who is getting benefits on the record of your former spouse, you would not have to meet the length-of-marriage rule. The child must be your former spouse's natural or legally adopted child. Benefits Planner

If you are the widow or widower of a person who worked long enough under Social Security, you can:

â�¢receive full benefits at full retirement age for survivors or reduced benefits as early as age 60.

â�¢begin receiving benefits as early as age 50 if you are disabled AND the disability started before or within seven years of the worker's death."

from Question concerning, again - this is what I read too

[ In Reply To ..]
as long as you are not remarried at the time of the spouses death, you can collect survivor benefits, and you do not have to have children under a certain age. I also read that you do not have to retire yourself to collect. You have the option of just collecting the survivor benefits and can retire when you choose to at a later date. I am doing this hopefully this coming week. Had to send for some paperwork to complete their approval process, but all seems to fit! Wish I had known about this two years ago. I am 63. Thanks everybody for your help.

Friend under 60, husband died, had to wait - for survivor benefits

[ In Reply To ..]
Years ago, remember well. The person was not working throughout her marriage, husband died and she really had a hard time until her benefits kicked in, 2 or 3 years it was.

More info on survivor benefits - sm - XXX

[ In Reply To ..]
ok, knew I was not crazy, some of what I thought was correct....but this is straight from their website, also see link below.....looks like you can receive some sort of survivor benefit w/o kids but have to be at least 50 and meet whatever the requirements are (this does not go into that), the next level rule/req. was age 60 or up (I guess if you don't meet the rules for the age 50 thing).

Requirements for survivor benefits

What are the requirements for a survivor to receive Social Security benefits?

--------------------------------------------------------------------------------
To receive survivors benefits, the deceased worker must have earned the required number of Social Security credits. Survivors also must meet the following requirements:

•A widow or widower may be able to receive full benefits at full retirement age or reduced as early as age 50. For more information on widows, widowers and other survivors, visit Widows, Widowers & Other Survivors.
•A widow or widower can receive benefits at any age if she or he takes care of the deceased worker's child who is entitled to a child's benefit and younger than age 16 or disabled.
•A deceased worker's unmarried children who are younger than age 18 (or up to age 19 if they are attending elementary or secondary school full time) also can receive benefits. Children can get benefits at any age if they were disabled before age 22 and remain disabled.
•A deceased worker's dependent parents can receive benefits if they are age 62 or older. (For parents to qualify as dependents, the deceased worker would have had to provide at least one-half of their support.)
•A deceased worker's former spouse who is age 60 or older (as early as age 50 if disabled) can get benefits if the marriage lasted at least 10 years. A former spouse, however, does not have to meet the age or length-of-marriage rule if she or he is caring for their natural or legally adopted child who is younger than age 16 or who is disabled and also is entitled based on the deceased worker's work

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