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Old 09-17-2007, 06:35 AM   #41
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What did you list as the reason you were withdrawing your application?
Just that "This application is based the fact that I did not realize it was to our long-term financial benefit to delay my application for benefits.".
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Old 09-17-2007, 06:38 AM   #42
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Quote:
Originally Posted by Bikerdude View Post
What did you list as the reason you were withdrawing your application?
"This application is based the fact that I did not realize it was to our long-term financial benefit to delay my application for benefits."
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I'm treating it like an annuity...
Old 09-17-2007, 04:07 PM   #43
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I'm treating it like an annuity...

We won't need the money. I'm treating it like an annuity (and a form of insurance) for my wife. Untouched, my SS will grow at 8.5% per year until age 70. That's a guaranteed amount of money increase and one hard to find elsewhere. So, should I predecease my spouse, she'll have a substantial additional amount of money to live on (we have other money and pensions, so SS would be on top of the other stuff).

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Old 09-18-2007, 06:26 AM   #44
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Poster 2B pointed out this article to us a few days ago:
Where can a 70-year-old buy the least expensive life annuity?

My conclusion - there's no reason under the sun not to take SS as early as possible. The risks of waiting are: you may not live long enough to receive as much (or any) benefit, and the politicos can change the system (hint: the changes won't be in your favor).
1.If I die early, I don't care. If I die late and postpone SS I can go around
tell everybody I'm sticking it to the man
2. They not going to change the system, they'll change the tax laws like
they did before.
TJ
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Old 10-27-2007, 03:10 PM   #45
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If you remember I sent in a SS-521 regarding withdrawal of an application for SS, repayment of all benefits paid to date back in September 2007. The form and a cover letter was sent to our local office here. Well this week (10/25) I got a call from a SS Rep in CHICAGO and we had a rather long discussion. She just wanted to know if I knew what I was asking. She said it was "my decision" and SS would honor the request but she also recommended that I go talk to a local SS Rep at the local office before I actually withdraw the application. I said "sure, I'll would go". Called the SS at the 1-800 number she provided and we have a "sit down" scheduled for 11/20. Will follow up after the "sit down".
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Old 10-27-2007, 03:12 PM   #46
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R Wood, thanks for the update. Please continue to keep us posted on your progress.
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Old 10-27-2007, 07:06 PM   #47
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Quote:
Originally Posted by R Wood View Post
If you remember I sent in a SS-521 regarding withdrawal of an application for SS, repayment of all benefits paid to date back in September 2007. The form and a cover letter was sent to our local office here. Well this week (10/25) I got a call from a SS Rep in CHICAGO and we had a rather long discussion. She just wanted to know if I knew what I was asking. She said it was "my decision" and SS would honor the request but she also recommended that I go talk to a local SS Rep at the local office before I actually withdraw the application. I said "sure, I'll would go". Called the SS at the 1-800 number she provided and we have a "sit down" scheduled for 11/20. Will follow up after the "sit down".
Keep us posted. Very interested in the out-come along with the particulars. What reason did you give them for your deciding to withdraw your application? How long have you been drawing benefits?
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Old 10-27-2007, 08:29 PM   #48
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Keep us posted. Very interested in the out-come along with the particulars. What reason did you give them for your deciding to withdraw your application?
Quote:
Originally Posted by R Wood View Post
"This application is based the fact that I did not realize it was to our long-term financial benefit to delay my application for benefits."
.
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