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#2399582 - 11/06/17 05:47 PM First social security check came in the mail today
B3422W5 Online   content
master

Registered: 01/20/03
Posts: 9918
Loc: Portage,michigan
Woot... woot

Still breathing to be able to spend it👍😬
_________________________
69 Dart GTS, performance upgrades in progress
11.26@ 118.40 best so far. Stock 360 shortblock with eddie heads.

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#2399593 - 11/06/17 06:00 PM Re: First social security check came in the mail today [Re: B3422W5]
Cometstorm Offline
"Beat It"

Registered: 01/21/03
Posts: 2229
Loc: St. Louis, Missouri area
Gotta be a good feeling! up

64 1/2 here.... trying to hold off til 66.
_________________________
I'm a sneezing fish!

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#2399605 - 11/06/17 06:18 PM Re: First social security check came in the mail today [Re: Cometstorm]
B3422W5 Online   content
master

Registered: 01/20/03
Posts: 9918
Loc: Portage,michigan
Originally Posted By Cometstorm
Gotta be a good feeling! up

64 1/2 here.... trying to hold off til 66.



62.....business is in wifes name only. So i have showed zero income working fulltime+ the last 8 years. Longer i wait, my income average goes down, so took my 1705 a month now.
No guarantee if i wait i will be around to get anything.
_________________________
69 Dart GTS, performance upgrades in progress
11.26@ 118.40 best so far. Stock 360 shortblock with eddie heads.

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#2399661 - 11/06/17 07:37 PM Re: First social security check came in the mail today [Re: B3422W5]
Supercuda Offline
I Live Here

Registered: 09/04/07
Posts: 12568
Loc: West Texas
Originally Posted By B3422W5
Originally Posted By Cometstorm
Gotta be a good feeling! up

64 1/2 here.... trying to hold off til 66.



62.....business is in wifes name only. So i have showed zero income working fulltime+ the last 8 years. Longer i wait, my income average goes down, so took my 1705 a month now.
No guarantee if i wait i will be around to get anything.


https://www.ssa.gov/fraudreport/oig/public_fraud_reporting/form.htm
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#2399727 - 11/06/17 09:21 PM Re: First social security check came in the mail today [Re: Supercuda]
B3422W5 Online   content
master

Registered: 01/20/03
Posts: 9918
Loc: Portage,michigan
Originally Posted By Supercuda
Originally Posted By B3422W5
Originally Posted By Cometstorm
Gotta be a good feeling! up

64 1/2 here.... trying to hold off til 66.



62.....business is in wifes name only. So i have showed zero income working fulltime+ the last 8 years. Longer i wait, my income average goes down, so took my 1705 a month now.
No guarantee if i wait i will be around to get anything.


https://www.ssa.gov/fraudreport/oig/public_fraud_reporting/form.htm



No worries. I am strictly a helper helping my wife, she could run this business by herself if i croaked.
Nothing saying she has to pay me.... i volunteer to help.
She pays an employee she has. I get favors at home for my efforts. Lol


Edited by B3422W5 (11/06/17 09:23 PM)
_________________________
69 Dart GTS, performance upgrades in progress
11.26@ 118.40 best so far. Stock 360 shortblock with eddie heads.

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#2399748 - 11/06/17 10:01 PM Re: First social security check came in the mail today [Re: B3422W5]
poorboy Offline
master

Registered: 01/19/03
Posts: 5960
Loc: Freeport IL USA
I intend to draw my SS as soon as I can. The way business has been this year, it will be like getting a raise. Gene

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#2399766 - 11/06/17 10:45 PM Re: First social security check came in the mail today [Re: poorboy]
pittsburghracer Online   content
Slowride

Registered: 02/02/05
Posts: 11901
Loc: PA.
Me too hopefully. I turn 62 in March of 2018 and retired in 2010. Looking forward to some extra spending money.
_________________________
1970 Duster
Edelbrock headed 408
6.143@110.89 mph
9.73@135.05 mph shifting at 6700 RPM
422 Indy headed small block
6.001@113.27mph
9.44@138.23


Untitled by John Cadamore, on Flickr





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#2399797 - 11/06/17 11:40 PM Re: First social security check came in the mail today [Re: B3422W5]
cudaman1969 Offline
master

Registered: 01/25/04
Posts: 3652
Loc: fredericksburg,va
I use mine to pay medicare supplement, drugs insurance, SRT payment and the Scag payment. Check direct deposits into a debit account and after the payments I use it for meals, golf and gas. Still have some left over each month. The money I make in my business stays in the business to pay all the taxes. Play money pays for my cars.


Edited by cudaman1969 (11/06/17 11:42 PM)

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#2399931 - 11/07/17 10:42 AM Re: First social security check came in the mail today [Re: B3422W5]
Cometstorm Offline
"Beat It"

Registered: 01/21/03
Posts: 2229
Loc: St. Louis, Missouri area
Originally Posted By B3422W5
Originally Posted By Cometstorm
Gotta be a good feeling! up

64 1/2 here.... trying to hold off til 66.



62.....business is in wifes name only. So i have showed zero income working fulltime+ the last 8 years. Longer i wait, my income average goes down, so took my 1705 a month now.
No guarantee if i wait i will be around to get anything.


Educate me please, how do SS payments go down if you delay taking it... even if your income average goes down?

I’ve been retired since 2008 (age 55, but wife is still a self employed beautician).

All my SS projections (and those sent by SS annually) show a roughly $100 per month increase for each year I delay.

I understand folks taking SS early, and those that delay. It’s a personal decision based on many factors.

Maybe I misread or misinterpreted your post?

I don’t see how postponing SS can decrease payment? shruggy
_________________________
I'm a sneezing fish!

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#2399933 - 11/07/17 10:52 AM Re: First social security check came in the mail today [Re: Cometstorm]
Rhinodart Offline
Rhinotruck

Registered: 01/20/03
Posts: 34999
Loc: Round Lake Beach, Illinoisy
iagree How can benefits go down if you wait? Everything I read about particularly on the SS website suggest they go up! shruggy
_________________________
The funny thing about science is that if you change one miniscule parameter you change the entire outcome to the way you want it.

JB Rhinehart, Realist

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#2399954 - 11/07/17 11:47 AM Re: First social security check came in the mail today [Re: B3422W5]
minivan Offline
master

Registered: 01/13/04
Posts: 9009
Loc: Eugene, Oregon
Started getting mine this last april at 62...

My only question is why don't you have them directly deposit them to your checking acct??? I wake up on the third Wednesday and check my acct online... AHHHH Pennies from heavin.....

To all of you who wait longer, their is NO guarantee that YOU will be here... One thing my father in law told me when I was in my twenties.. " Take that money when you can as its YOUR MONEY, and there is no guarantee how long you will live"

Of course if you do die, your EX wife can get em...... LOL


Edited by minivan (11/07/17 11:48 AM)

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#2399968 - 11/07/17 12:11 PM Re: First social security check came in the mail today [Re: B3422W5]
Charger727 Offline
super stock

Registered: 01/21/03
Posts: 966
Loc: Eau Claire, WI
Originally Posted By B3422W5
Woot... woot

Still breathing to be able to spend it👍😬


Congrats! I hope I can live long enough to see mine

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#2399971 - 11/07/17 12:14 PM Re: First social security check came in the mail today [Re: minivan]
Cometstorm Offline
"Beat It"

Registered: 01/21/03
Posts: 2229
Loc: St. Louis, Missouri area
Originally Posted By minivan
Started getting mine this last april at 62...

To all of you who wait longer, their is NO guarantee that YOU will be here... One thing my father in law told me when I was in my twenties.. " Take that money when you can as its YOUR MONEY, and there is no guarantee how long you will live"


One thing for sure.... there is NO formula to determine which choice is right: take early, or defer.

Now, if you can answer that pesky question “when will I die?”

The answer becomes more clear... coffee
_________________________
I'm a sneezing fish!

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#2399981 - 11/07/17 12:29 PM Re: First social security check came in the mail today [Re: Cometstorm]
pittsburghracer Online   content
Slowride

Registered: 02/02/05
Posts: 11901
Loc: PA.
Before the changes were made when we would get 80% at 62 and 100% at 65 I was told by a financial planner that it took 17 years to get the money back that you lost by waiting. I will take my 70% at 62 and roll the dice
_________________________
1970 Duster
Edelbrock headed 408
6.143@110.89 mph
9.73@135.05 mph shifting at 6700 RPM
422 Indy headed small block
6.001@113.27mph
9.44@138.23


Untitled by John Cadamore, on Flickr





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#2400044 - 11/07/17 02:27 PM Re: First social security check came in the mail today [Re: pittsburghracer]
RapidusMaximus Offline
top fuel

Registered: 06/04/03
Posts: 1789
Loc: Haslet, Texas
Originally Posted By pittsburghracer
Before the changes were made when we would get 80% at 62 and 100% at 65 I was told by a financial planner that it took 17 years to get the money back that you lost by waiting. I will take my 70% at 62 and roll the dice

Bingo! It's the old carrot in front of the donkey trick...the gov hopes you'll wait until full retirement age then they hope you won't last long...they try to lure you into gambling with YOUR money...my old company tried the same thing with my pension...haha...fooled 'em took it soon as I could, gonna do the same with SS. Waiting vs. taking as early as possible...an EXCEL spreadsheet with the monies spread out over the upcoming years tells the story, look for the age where the lines intersect and look how old you may be when that intersection occurs...just like your financial planner said, it takes YEARS to get back the money you lose by not taking it early, granted...if you think you're going to live to 80-100...then wait...by then they'll just use it to pay your rest home bill...just sayin... beer
_________________________
1968 Plymouth GTX 440 4 Speed Dana
1973 Small block Duster under construction
1974 Dodge P/U Long Bed Stepside 318 Auto
1975 Jeep CJ5
2016 Dodge Ram Hemi 1500

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#2400049 - 11/07/17 02:33 PM Re: First social security check came in the mail today [Re: B3422W5]
rrbrucea Offline
master

Registered: 01/29/04
Posts: 9828
Loc: Nort Cackalacky
Educate me please... why then is 67-1/2 mentioned as full retirement and full benefit age? Would there be any substantial difference in SS benefits between retirement at 65 and 67-1/2?

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#2400054 - 11/07/17 02:42 PM Re: First social security check came in the mail today [Re: rrbrucea]
RapidusMaximus Offline
top fuel

Registered: 06/04/03
Posts: 1789
Loc: Haslet, Texas
Originally Posted By rrbrucea
Educate me please... why then is 67-1/2 mentioned as full retirement and full benefit age? Would there be any substantial difference in SS benefits between retirement at 65 and 67-1/2?

Go to https://www.ssa.gov/myaccount/ and create an account if you haven't already, they have calculators on their to show you what your forecast may look like. up
_________________________
1968 Plymouth GTX 440 4 Speed Dana
1973 Small block Duster under construction
1974 Dodge P/U Long Bed Stepside 318 Auto
1975 Jeep CJ5
2016 Dodge Ram Hemi 1500

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#2400057 - 11/07/17 02:47 PM Re: First social security check came in the mail today [Re: rrbrucea]
minivan Offline
master

Registered: 01/13/04
Posts: 9009
Loc: Eugene, Oregon
Originally Posted By rrbrucea
Educate me please... why then is 67-1/2 mentioned as full retirement and full benefit age? Would there be any substantial difference in SS benefits between retirement at 65 and 67-1/2?


You must be young... Full retirement used to be 65, but it was changed... full for me was 66 3 months... AFTER I was told for YEARS that it would be 65....

Try to be a private institution and do that....

Go ahead and wait, the government needs YOUR money for lots of "others" that didn't pay any SS......

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#2400061 - 11/07/17 02:59 PM Re: First social security check came in the mail today [Re: Cometstorm]
RapidusMaximus Offline
top fuel

Registered: 06/04/03
Posts: 1789
Loc: Haslet, Texas
Originally Posted By Cometstorm
Originally Posted By minivan
Started getting mine this last april at 62...

To all of you who wait longer, their is NO guarantee that YOU will be here... One thing my father in law told me when I was in my twenties.. " Take that money when you can as its YOUR MONEY, and there is no guarantee how long you will live"


One thing for sure.... there is NO formula to determine which choice is right: take early, or defer.

Now, if you can answer that pesky question “when will I die?”

The answer becomes more clear... coffee

^^^^^ THIS^^^^^ boogie
_________________________
1968 Plymouth GTX 440 4 Speed Dana
1973 Small block Duster under construction
1974 Dodge P/U Long Bed Stepside 318 Auto
1975 Jeep CJ5
2016 Dodge Ram Hemi 1500

Top
#2400071 - 11/07/17 03:22 PM Re: First social security check came in the mail today [Re: RapidusMaximus]
rrbrucea Offline
master

Registered: 01/29/04
Posts: 9828
Loc: Nort Cackalacky
Originally Posted By RapidusMaximus
Originally Posted By rrbrucea
Educate me please... why then is 67-1/2 mentioned as full retirement and full benefit age? Would there be any substantial difference in SS benefits between retirement at 65 and 67-1/2?

Go to https://www.ssa.gov/myaccount/ and create an account if you haven't already, they have calculators on their to show you what your forecast may look like. up



Thank you, I'll do that!

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