Manna from Heaven (via the Social Security Administration...)

[W2R]

Holy cow! OMG!!! Break out the champagne and sparkly water and let's party till we drop! I just can hardly believe it, but this morning, what should I see in my checking account but my very first, very unexpected direct deposit from Social Security.

This was for income I never planned for, and had NO IDEA that I qualified for until those on this forum told me. I admit it. I planned so carefully but somehow dropped the ball and you all helped me to pick it up. The reason it was so unexpected was that I had no idea if the documentation I sent in was sufficient, and I had no idea how much money to expect if it was.

Thanks to those on the forum who pushed me to look into divorced spousal benefits from SS and who pointed out that claiming them at age 66 would not lower the amount I get from SS at age 70 (since I planned to wait until 70 anyway). Somehow I had missed this little loophole. Then Congress was working on eliminating it with verbiage in proposed legislation that was being discussed this spring, but I guess either it was tabled or else I sneaked in under the wire.

I don't remember who it was that strongly suggested that I need to look into this. I think maybe several of you did, including KatsMeow, REWahoo and others. I was reluctant to do so, because I thought it would open a (divorce) can of worms, but it didn't.

The amount of today's direct deposit was huge - - almost the maximum possible. With no explanation of benefits quite yet, I have no idea how much it will settle down to once I start getting a regular monthly amount. I do know my ex had a very good earnings history for SS, and I should expect half of his FRA benefit amount, so I can dream....

I have truly earned money from this forum and I am thankful to all of you in so many ways. No, moderators and admins still do not get a cent for what we do, or any other financial benefit from our volunteer moderating activities, but the suggestions and comments from members posting in threads have been absolutely golden.

Another way in which this forum has helped me tremendously in the past, is that some of you, in particular Rich_by_the_Bay, eloquently persuaded me to continue working until I could qualify for my federal retiree health insurance. I would never have enjoyed retirement nearly so much, if I had been worrying about health insurance before I qualified for Medicare. So, I sincerely thank you for that, Rich, and thank so many other forum members too, for their role in helping me tweek my financial planning through the years.

EDITED TO ADD: For those divorced spouses that are interested in finding out about divorced spousal benefits, here is a great link that I got from somebody here, I believe Katsmeow: http://www.ssa.gov/retire2/divspouse.htm
If you go to that link it has the information you need, about what you can get. On the right hand side of that webpage, there is a link to "Apply Online for Divorced Spouse's Benefits" and that is how I applied.
By the way: Divorced guys can get these benefits too, and it doesn't reduce your ex's benefits at all.

[NW-Bound]

Congrats!

Now, you can spend even more time surfing Amazon to stimulate the economy.

How 'bout some nice loudspeakers or tube amplifiers to keep up with the geeks here?

[W2R]

Quote:

Originally Posted by NW-Bound Congrats! Now, you can spend even more time surfing Amazon to stimulate the economy. How 'bout some nice loudspeakers or tube amplifiers to keep up with the geeks here?

Hmmm!!! Good idea!

I had been feeling guilty because last week I spent $116 on a bunch of t-shirts with funny sayings to wear to the gym. You know, funny sayings like "There are 10 kinds of people in the world: those who know binary, and those who don't." "Never trust an atom: they make up everything." and so on. To me they are hilarious and such fun to wear, but they were vastly overpriced. But now this - - it's like I got them for free! And a whole lot more.

[NW-Bound]

Or take Frank out to dinner tonight at Commander's Palace (photo from restaurant's Web site)?



Man, there are many possibilities here.

[Meadbh]

Congratulations W2R, what a nice surprise!

I got some unexpected cash this week too, refunds of cancelled professional licences, etc.

There is no doubt that participating in this and other forums has been very valuable. Knowledge is power (and money)!

[bbbamI]

Woo Hoo....shopping is gonna happen...whachoo gonna git?

I am so pleased it worked out well for you.

[W2R]

Quote:

Originally Posted by NW-Bound Or take Frank out to dinner tonight at Commander's Palace? Man, there are many possibilities here.

He is DEFINITELY getting a free lunch today, although he doesn't know it yet. His favorite restaurant has an expensive Thursday special so I am thinking of suggesting that one. I'd like to take him to Commander's too, sometime when we feel like getting out of our sloppy retiree clothes and enjoying something more high-end.

[NW-Bound]

Quote:

Originally Posted by Meadbh ... Knowledge is power (and money)!

Hey, that reminds me of the Salary Theorem I recently mentioned in another thread.

http://www.early-retirement.org/foru...ml#post1463934

[heeyy_joe]

Not to be Debbie Downer but make sure it's the right amount before you go and spend it.

[NW-Bound]

I doubt that W2R will go spend all of it, same as many frugal ER's here would not do.

In fact, many of us will need to think of the taxes when the delayed SS and RMD on the IRA/401K hit at the same time at 70.

[W2R]

Quote:

Originally Posted by heeyy_joe Not to be Debbie Downer but make sure it's the right amount before you go and spend it.

Yes, good idea. I am already wondering what it represents. One month's worth? Two months? I put in my application on June 9th. Also, they could have messed up and given me the wrong benefits or wrong amount. Are taxes deducted? Medicare Part B? I just have no idea what this direct deposit really IS. I checked online but it said no info is available and to check again later. I am pretty sure a letter from them explaining what it is, must be on the way.

[grasshopper]

Quote:

Originally Posted by W2R He is DEFINITELY getting a free lunch today, although he doesn't know it yet. His favorite restaurant has an expensive Thursday special so I am thinking of suggesting that one. I'd like to take him to Commander's too, sometime when we feel like getting out of our sloppy retiree clothes and enjoying something more high-end.

Yea pretty silly dress code, I begged to be able to sit at the bar and have a bowl of turtle soup, no, nada, nothing. Had on my tourist shorts, drove all the way from Biloxi MS.

[hakuna matata]

Congratulations!

My ex wife has that coming as well since she never remarried--if it is still in place then. I have no quarrels with that as it has no impact on my SS. Way cool!

[ivinsfan]

Congrats W2R, but you certainly have given out plenty of info in your time here. I have learned all kinds of things about SS on this forum.

You'd be shocked by the number of SS age eligible people who know almost no details about the fine print in SS. My good friend 63 her DH 66 1/2 didn't even have a guess at what benefit they might be getting. I asked aren't you getting the annual statements? Oh, I don't remember. I spent an entire day at her house helping her look over their possible options, logging them on to SS.gov and walking her though all of it. I made cheat sheets of payment options

She was less then happy to find out that the money she put in since she worked part times when her kids were grown, was just a donation to the SS fund. She will claim a spousal. At the end of it all, she says man it's a relief to have that done. She's my best friend and an intelligent woman, so I don't have an explanation for her lack of initiative in this area.

I wanted to send her a link to this forum, but decided she'd never look at it anyway....

[FANOFJESUS]

Quote:

Originally Posted by W2R Holy cow! OMG!!! Break out the champagne and sparkly water and let's party till we drop! I just can hardly believe it, but this morning, what should I see in my checking account but my very first, very unexpected direct deposit from Social Security. This was for income I never planned for, and had NO IDEA that I qualified for until those on this forum told me. I admit it. I planned so carefully but somehow dropped the ball and you all helped me to pick it up. The reason it was so unexpected was that I had no idea if the documentation I sent in was sufficient, and I had no idea how much money to expect if it was. Thanks to those on the forum who pushed me to look into divorced spousal benefits from SS and who pointed out that claiming them at age 66 would not lower the amount I get from SS at age 70 (since I planned to wait until 70 anyway). Somehow I had missed this little loophole. Then Congress was working on eliminating it with verbiage in proposed legislation that was being discussed this spring, but I guess either it was tabled or else I sneaked in under the wire. I don't remember who it was that strongly suggested that I need to look into this. I think maybe several of you did, including KatsMeow, REWahoo and others. I was reluctant to do so, because I thought it would open a (divorce) can of worms, but it didn't. The amount of today's direct deposit was huge - - almost the maximum possible. With no explanation of benefits quite yet, I have no idea how much it will settle down to once I start getting a regular monthly amount. I do know my ex had a very good earnings history for SS, and I should expect half of his FRA benefit amount, so I can dream.... I have truly earned money from this forum and I am thankful to all of you in so many ways. No, moderators and admins still do not get a cent for what we do, or any other financial benefit from our volunteer moderating activities, but the suggestions and comments from members posting in threads have been absolutely golden. Another way in which this forum has helped me tremendously in the past, is that some of you, in particular Rich_by_the_Bay, eloquently persuaded me to continue working until I could qualify for my federal retiree health insurance. I would never have enjoyed retirement nearly so much, if I had been worrying about health insurance before I qualified for Medicare. So, I sincerely thank you for that, Rich, and thank so many other forum members too, for their role in helping me tweek my financial planning through the years.

Congrats! but after reading all of that I missed the male part of it. How much was your monthly hall?

[Tadpole]

[RE2Boys]

Quote:

Originally Posted by heeyy_joe Not to be Debbie Downer but make sure it's the right amount before you go and spend it.

My first SS check was for two months as benefits started the day I first applied on line, but a lag as I had to go into the office to show some paperwork hence a delay in first payment.

[eytonxav]

Good for you W2R Maybe you can splurge on a few personal training sessions. I'll bet they could show you some new ways to get in 19.5 tons.

[Ally]

I think that is fantastic! Congrats!

[REWahoo]

Quote:

Originally Posted by W2R Thanks to those on the forum who pushed me to look into divorced spousal benefits from SS and who pointed out that claiming them at age 66 would not lower the amount I get from SS at age 70 (since I planned to wait until 70 anyway)... I don't remember who it was that strongly suggested that I need to look into this. I think maybe several of you did, including KatsMeow, REWahoo and others.

You are entirely welcome.

Please indicate your gratitude by spending an entirely inappropriate amount on something fun and [what you consider to be] completely frivolous. And if you have even a millisecond of regret for spending the money, shame on you.