Re: social security question

Silver Lotus · ‎03-12-2014

On 3/30/2014 Peaches4you said: "" Please don't spread misinformation about something so important.""..................................;Could someone please start a thread for cranky posters. Today has seen a dearth of them and god love 'em they need to be heard! Just not on serious threads. ??

pdxlalesley · ‎09-15-2010

On 3/30/2014 Peaches4you said: " Please don't spread misinformation about something so important."..................................;Could someone please start a thread for cranky posters. Today has seen a dearth of them and god love 'em they need to be heard! Just not on serious threads. ??

Peaches4you, you posted a quote from my post. Am I your cranky poster? Or am I not understanding your reference.

My aim was to refute the assertion of being stuck for life at a certain level of benefits when that is not true. This is indeed a serious thread, thus my response.

~moxie~ · ‎08-13-2013

On 3/30/2014 ~moxie~ said:
My husband started taking SS when he was 65. He said that waiting until 70 or older was a waste of time. He still worked and if he exceeded the amount that was allowed with benefits he simply played the extra taxes. He was a CPA and knew quite well how to use your benefits to the maximum. Sadly the year he was going to retire he passed away. Think of those 5 years that he was receiving SS benefits and still making a good salary.

The amount I am receiving is disposable. The house is paid for and all the household bills including the care of my dogs as well as my insurance and expenses are paid by a trust. I do put $750 a month in savings and add to it if I have money left over at the end of the month.

Lion · ‎03-09-2010

On 3/30/2014 pdxlalesley said:
Not true, you are certainly not stuck there for life. Via AARP my DH and I explored the SS website and found out that if I retired at 62 and collected my SS benefit, I could at any time return the funds give me in full, no interest, to SS and re-file at an older age. Please don't spread misinformation about something so important.

From what I have read in the news, that is no longer true.

While it use to be an option, SS eliminated that option within the last 1-2 yrs.

I agree that it's important to contact SS directly for answers, whether reading the SS site or anywhere else.

**********
"The truth is like a lion. You don't have to defend it. Let it loose. It will defend itself."
- Augustine

Be Vigilent

151949 · ‎03-09-2010

On 3/30/2014 esmerelda said:
I thought SS benefits were based on what a person earned during their working life.

If that's the case, I don't know how there can be a "limit" on the monthly benefit.

there absolutely is an upper limit to what your monthly payout can be.As i said before the SS.gov site response to my question of what the max payout can be was 2346 but i guess that was incorrect according to those on this site.

kittymomNC · ‎08-09-2012

On 3/30/2014 happy housewife said:
On 3/30/2014 esmerelda said:
I thought SS benefits were based on what a person earned during their working life.

If that's the case, I don't know how there can be a "limit" on the monthly benefit.

there absolutely is an upper limit to what your monthly payout can be.As i said before the SS.gov site response to my question of what the max payout can be was 2346 but i guess that was incorrect according to those on this site.

I don't profess to know exactly what the current maximum benefit is, but HH is correct - I do know without a doubt that there definitely IS a maximum benefit that can be drawn.

Mama Mia · ‎03-10-2010

On 3/30/2014 kittymomNC said:
On 3/30/2014 happy housewife said:
On 3/30/2014 esmerelda said:
I thought SS benefits were based on what a person earned during their working life.

If that's the case, I don't know how there can be a "limit" on the monthly benefit.

there absolutely is an upper limit to what your monthly payout can be.As i said before the SS.gov site response to my question of what the max payout can be was 2346 but i guess that was incorrect according to those on this site.

I don't profess to know exactly what the current maximum benefit is, but HH is correct - I do know without a doubt that there definitely IS a maximum benefit that can be drawn.

HH was wrong as I already said if you would bother to read my post. With the COLA every year the benefit will change a little, however, as I already there is a maximum for this year if you are age 70 and worked steadily to that age. Each year it will change some for everyone.

I love that " I guess I was incorrect" bit, just say it. Duh. All anyone here has to do is look it all up on the SS web site for the correct info, why even ask here?

mm

"Cats are like potato chips, you can never have just one".

Mama Mia · ‎03-10-2010

On 3/30/2014 BlueCollarBabe said:
On 3/30/2014 ~moxie~ said:
On 3/30/2014 happy housewife said:
On 3/30/2014 ~moxie~ said:
When my husband passed away I got 98% of his SS which is around $2600 a month.

per SS.gov the max anyone can collect on SS each month is $2346.
Well you are wrong. I received 98% of my husbands ss after he passed away.

In fairness to happy housewife, that's a number mentioned several years ago on some retirement websites. It's fora person retiring at full retirement age and not working at all after that. You can take your social security benefit at full retirement age (right now that's 66 I believe) but keep working and add to your benefit up to age 70. According to the SSA the max you can then receive is $3425 a month.

Did you just get your info from my post #16? You didn't get it right either, because that is only for 2014. With COLAS, it changes each year, as I said before. Just because HH or someone, read something about a max benefit years ago doesnot make it right for this year.

mm

"Cats are like potato chips, you can never have just one".

winamac1 · ‎12-29-2010

I'm taking mine the DAY I can take it--early. DH and I both feel the same way. WE have quite a few years to get there, but we aren't waiting until 65 or older.

"friends don't let friends drink white zinfandel"

kittymomNC · ‎08-09-2012

On 3/30/2014 Mama Mia said:
On 3/30/2014 kittymomNC said:
On 3/30/2014 happy housewife said:
On 3/30/2014 esmerelda said:
I thought SS benefits were based on what a person earned during their working life.

If that's the case, I don't know how there can be a "limit" on the monthly benefit.

there absolutely is an upper limit to what your monthly payout can be.As i said before the SS.gov site response to my question of what the max payout can be was 2346 but i guess that was incorrect according to those on this site.

I don't profess to know exactly what the current maximum benefit is, but HH is correct - I do know without a doubt that there definitely IS a maximum benefit that can be drawn.

HH was wrong as I already said if you would bother to read my post. With the COLA every year the benefit will change a little, however, as I already there is a maximum for this year if you are age 70 and worked steadily to that age. Each year it will change some for everyone.

I love that " I guess I was incorrect" bit, just say it. Duh. All anyone here has to do is look it all up on the SS web site for the correct info, why even ask here?

mm

I think the whole point here is that there is a maximum benefit, and I said I didn't know exactly what the CURRENT maximum benefit is - yes, it may change each year, but that does not negate the fact that there is a maximum....if you make a billion dollars in your working life, you can't draw a million in benefits in a year, or whatever it would calculate out to on a billion dollars!!!