Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 02-17-2015, 10:34 AM   #21
Thinks s/he gets paid by the post
target2019's Avatar
 
Join Date: Dec 2008
Posts: 3,708
Quote:
Originally Posted by FireBug View Post
Agreed. Poor guy just wants to put out some info. All he gets is, Suspicious link, hey, how bout reviewing the book first, against forum rules, you're new and can't be trusted.
I went to the link and helped. Can I get extra credit for that? Maybe a homework pass?


BTW, here's the NPR link:

How to get what's yours from Social Security | Making Sen$e | PBS NewsHour
__________________

__________________
target2019 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-17-2015, 10:39 AM   #22
Recycles dryer sheets
 
Join Date: Feb 2014
Location: SF Bay Area
Posts: 252
^^^ Agreed but you have to admit, you start reading this thread and all the upfront responses are just trying to come up with negative "what can go wrong" responses, most of which could be resolved my just stepping aside and doing a very small amount of research.
__________________

__________________
"The only function of economic forecasting is to make astrology look respectable"
- J.K. Galbraith
FireBug is offline   Reply With Quote
Old 02-17-2015, 10:54 AM   #23
Thinks s/he gets paid by the post
imoldernu's Avatar
 
Join Date: Jul 2012
Location: Peru
Posts: 4,616
Quote:
Originally Posted by REWahoo View Post
from the extended comments, this caught my eye:

Quote:
For such a couple, collecting Social Security at 62 represents a $1.2 million asset. In other words, you’d need a nest egg of $1.2 million to produce the same amount of annual income that you’ll get from Social Security, assuming you could safely earn 2 percent a year above inflation on your investments.

Now, $1.2 million is more than many upper-middle-income retirees have saved by retirement age. The net worth of a typical household headed by someone aged 65 to 69 is only a fourth of this amount and much of it is in the value of their home. And all you have to do is stay alive and those Social Security payments will keep coming each and every month—payments guaranteed by the United States government and protected against inflation. That’s because every January, you get, by law, annual benefit raises that equal the prior year’s rate of inflation.1

Moreover, there is a huge amount of money at stake in maximizing one’s Social Security benefits. The $1.2 million valuation, large as it is, actually assumes our 60-year-old couple makes the wrong Social Security benefit collection decisions. It assumes they take their retirement benefits as early as possible and forgo cashing in on what are, to them, free spousal benefits like the one Paul took. If they make the right decisions, they can increase the value of their lifetime Social Security “asset” by more than $400,000, to $1.6 million!
__________________
imoldernu is offline   Reply With Quote
Old 02-17-2015, 10:59 AM   #24
Thinks s/he gets paid by the post
target2019's Avatar
 
Join Date: Dec 2008
Posts: 3,708
^^^^ A discussion might break out? At least I come to understand a bit more in each conversation.

I don't mind doing some research for others.
__________________
target2019 is offline   Reply With Quote
Old 02-17-2015, 11:02 AM   #25
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,117
Quote:
Originally Posted by FireBug View Post
^^^ Agreed but you have to admit, you start reading this thread and all the upfront responses are just trying to come up with negative "what can go wrong" responses, most of which could be resolved my just stepping aside and doing a very small amount of research.
Or they could just be asking the OP to do what everyone else is asked to do when posting on the forum: don't post naked links and provide information about what the heck you are linking to. IOW, common courtesy.
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 02-17-2015, 11:05 AM   #26
Full time employment: Posting here.
 
Join Date: Feb 2014
Posts: 731
Gee, I think the OP has learned the lesson....you guys are tough.
__________________
BBQ-Nut is offline   Reply With Quote
Old 02-17-2015, 11:08 AM   #27
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,117
Quote:
Originally Posted by BBQ-Nut View Post
Gee, I think the OP has learned the lesson....you guys are tough.
Only takes one bad experience to accelerate the toughening process.
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 02-17-2015, 11:31 AM   #28
Recycles dryer sheets
 
Join Date: Feb 2015
Posts: 89
Hi again,

To give myself legitimacy, I posted a quick bio in the "Hi, I am..." sub-forum.
Take a look over there to read my story.

I'm just a guy hoping to retire some day.

Thanks to all! I've already learned a lot and started to change my ways just by lurking on this forum.
__________________
dadu007 is offline   Reply With Quote
Old 02-17-2015, 12:59 PM   #29
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
braumeister's Avatar
 
Join Date: Feb 2010
Location: Northern Kentucky
Posts: 8,610
Quote:
Originally Posted by dadu007 View Post
... just by lurking on this forum.
Well, there you go again!
Lurking is frowned upon here -- we want to see an average of at least 1.65 posts per day, or you may be ostracized.


Just kidding -- trying to toughen you up for what is in fact quite a friendly bunch of folks here.
__________________
braumeister is offline   Reply With Quote
Old 02-17-2015, 01:10 PM   #30
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
HFWR's Avatar
 
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 12,964
Quote:
Originally Posted by FireBug View Post
Agreed. Poor guy just wants to put out some info. All he gets is, Suspicious link, hey, how bout reviewing the book first, against forum rules, you're new and can't be trusted.
Well, I'm old, and can't shouldn't be trusted...
__________________
Have Funds, Will Retire

...not doing anything of true substance...
HFWR is offline   Reply With Quote
Old 02-17-2015, 04:20 PM   #31
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
harley's Avatar
 
Join Date: May 2008
Location: Following the nice weather
Posts: 6,430
You aren't that old.
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Will Rogers, or maybe Sam Clemens
DW and I - FIREd at 50 (7/06), living off assets
harley is offline   Reply With Quote
Old 02-17-2015, 07:30 PM   #32
Thinks s/he gets paid by the post
imoldernu's Avatar
 
Join Date: Jul 2012
Location: Peru
Posts: 4,616
Old? imoldernu!
__________________
imoldernu is offline   Reply With Quote
Old 02-17-2015, 08:02 PM   #33
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,386
The excerpt on NPR seemed dumb, though the ideas while elementary are sound.

I first came here in 2003. I knew nothing about SS or SWR or these retirement oriented issues even though I had been retired a long while. But somebody here told me everything I needed to know about SS pretty quickly. I think it can get very tricky when government pensions or having been a nun or various other offsets are an issue, but the rest is simple.

Still, Kotlikoff knows what he is about, and the book isn't very expensive and libraries will likely buy it so why not?

Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is online now   Reply With Quote
Old 02-17-2015, 09:04 PM   #34
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2004
Posts: 11,615
Kotlikof has written some good articles on SS optimization, I'm sure the book is good.

When I get closer to the decision on this, I plan to plunk down the $40 for a license to his software. It gets good reviews and this is the type of multivariable problem that screams out for an automated solution. His software is sold at : When Should I Take Social Security to Maximize My Benefits? | Maximize My Social Security

Note: I have no connection to/financial interest in this product, and haven't even seen/tried it.
__________________
"Freedom begins when you tell Mrs. Grundy to go fly a kite." - R. Heinlein
samclem is offline   Reply With Quote
Old 02-18-2015, 08:22 AM   #35
Thinks s/he gets paid by the post
 
Join Date: May 2014
Posts: 2,993
Quote:
Originally Posted by samclem View Post
When I get closer to the decision on this, I plan to plunk down the $40 for a license to his software. It gets good reviews and this is the type of multivariable problem that screams out for an automated solution. His software is sold at : When Should I Take Social Security to Maximize My Benefits? | Maximize My Social Security

Note: I have no connection to/financial interest in this product, and haven't even seen/tried it.
Not a bad idea. I'm 62 and haven't filed; DH filed at age 65 years ago. When I hit 66 (full retirement age), I'm pretty sure I'm safe taking a Spousal benefit and continuing to let mine grow, but laws change and that's when I'll really need to make a decision.
__________________
athena53 is offline   Reply With Quote
Old 02-18-2015, 08:54 AM   #36
Full time employment: Posting here.
 
Join Date: Jan 2008
Posts: 609
Quote:
Originally Posted by samclem View Post
Kotlikof has written some good articles on SS optimization, I'm sure the book is good.

When I get closer to the decision on this, I plan to plunk down the $40 for a license to his software. It gets good reviews and this is the type of multivariable problem that screams out for an automated solution. His software is sold at : When Should I Take Social Security to Maximize My Benefits? | Maximize My Social Security
I plan to do the same. Kotlikof is also the author of ESPlanner retirement software which was the linchpin of my early retirement decision. Don't believe I would have made the leap of faith without it.

Wondering if anyone has used the Maximize My Social Security software and could provide some thoughts on it.
__________________
Retired July 2013 at age 49.

Lazy Portfolio Investor:
AA: 55% Stocks
35% Bonds
10% Cash
NanoSour is offline   Reply With Quote
Old 02-18-2015, 12:02 PM   #37
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,905
Quote:
Originally Posted by imoldernu View Post
Old? imoldernu!
Yeah, but some days I definitely feel like imevenoldernu, imoldernu!
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Old 02-18-2015, 12:10 PM   #38
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,481
Quote:
Originally Posted by samclem View Post
Kotlikof has written some good articles on SS optimization, I'm sure the book is good.

When I get closer to the decision on this, I plan to plunk down the $40 for a license to his software. It gets good reviews and this is the type of multivariable problem that screams out for an automated solution. His software is sold at : When Should I Take Social Security to Maximize My Benefits? | Maximize My Social Security

Note: I have no connection to/financial interest in this product, and haven't even seen/tried it.
Quote:
Originally Posted by athena53 View Post
Not a bad idea. I'm 62 and haven't filed; DH filed at age 65 years ago. When I hit 66 (full retirement age), I'm pretty sure I'm safe taking a Spousal benefit and continuing to let mine grow, but laws change and that's when I'll really need to make a decision.
Great idea! Same here. When DH turns 62, we'll go ahead and review all this stuff. Certainly worth $40 for software and book to work through all our issues.

Neither DH nor I have worked 35 years. As such, our SS income won't be much - will probably just cover some of our Medicare premiums. But still good to work through all the issues.

DH is 4.5 years older, but I had the larger salary while working, and hit the SS income limit most of my last decade working. So it will be interesting to see what makes sense for us.
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is online now   Reply With Quote
Old 03-18-2015, 03:55 PM   #39
Confused about dryer sheets
 
Join Date: Mar 2015
Posts: 1
Wasn't Kotlikof interviewed on NPR just this morning? He was asked about his thoughts on how Social Security would be reformed and said he does not believe any reform would affect people who are like 55 or older, and that any reform would likely take the form of higher taxes rather than reduction of benefits. He said the latter would just be too difficult politically.
__________________
ibelieu is offline   Reply With Quote
Old 03-18-2015, 04:09 PM   #40
Confused about dryer sheets
 
Join Date: Feb 2015
Location: Honolulu
Posts: 8
Quote:
Originally Posted by Bigdawg View Post
I'm 6'6" and weigh 260lbs. With my size and family history, I will be lucky to see 80. I'm taking ss @ 62. BTW, I won't/don't need the money so it is sort of irrelevant. DW is six yrs younger and should live until 90. She will wait until 70 to take her's.
In your case there may a reason to wait until 70. That is survivor benefits for DW. She will get bigger benefits if you wait. Then I believe she can take the bigger amount of her survivor benefits or her own deferred benefits. Of course if you guys are set and are good it may not matter too much. OTOH if money will be tight when you are gone it may be significant.
__________________

__________________
doughroller is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Big-Name Investors Get Long, Get Loud and Get Richer timo2 Stock Picking and Market Strategy 2 08-16-2013 09:02 AM
Book report: "True Enough" and "truthiness" Nords Other topics 3 10-15-2008 09:28 PM
Retired "Business" Cards - What would you put on yours? Danny Life after FIRE 40 06-12-2008 09:57 AM
Book report: "The Little Book of Value Investing" Nords FIRE and Money 5 01-08-2007 12:00 AM
Book reports: "Blink" & "Tipping Point" Nords Other topics 2 12-04-2005 05:15 PM

 

 
All times are GMT -6. The time now is 09:44 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.