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03-07-2013, 06:12 AM
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#1
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Moderator Emeritus
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 29,452
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Social Security basics
This is an excellent short article explaining the basics of Social Security and providing links to SS related websites:
Solved: 10 Social Security mysteries - MarketWatch
#1: Will Social Security be there for me?
#2: Is Social Security a good deal?
#3: How does Social Security compute my payment?
#4: How can I get the most lifetime payments—by filing early, at FRA, or later?
#5: What are good Social Security planning tools?
#6: Will Social Security pay my family members?
#7: Can family members receive Social Security after I die?
#8: Can I work and still get Social Security?
#9: How do I file for Social Security?
#10: When can I enroll in Medicare?
__________________
Numbers is hard...
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03-07-2013, 07:22 AM
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#2
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Recycles dryer sheets
Join Date: Sep 2006
Location: Fort Collins
Posts: 193
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Great article - thanks!
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03-07-2013, 07:45 AM
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#3
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Recycles dryer sheets
Join Date: Feb 2013
Location: Leominster
Posts: 122
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 Quote:
Originally Posted by Jake46
Great article - thanks!
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Ditto!!!! 
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03-07-2013, 07:49 AM
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#4
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2005
Location: The Shanties of Stepfordville
Posts: 9,454
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Quote:
Originally Posted by REWahoo
#2: Is Social Security a good deal?
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You mean we have a choice?
__________________
Have Funds, Will Retire
Master of dumbassery
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03-07-2013, 07:51 AM
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#5
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Moderator Emeritus
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 29,452
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Quote:
Originally Posted by HFWR
You mean we have a choice?
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Sure. You aren't required to file for benefits. 
__________________
Numbers is hard...
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03-07-2013, 02:38 PM
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#6
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2006
Posts: 6,539
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Reading the article reminded me to put an item on my calendar reminding me to apply for Medicare later this year. That ICRS syndrome is going to cause me trouble one of these days.
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Every man is, or hopes to be, an Idler. -- Samuel Johnson
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03-07-2013, 02:47 PM
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#7
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Moderator Emeritus
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 29,452
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Quote:
Originally Posted by donheff
Reading the article reminded me to put an item on my calendar reminding me to apply for Medicare later this year.
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As you approach the date your mailbox will be filled with all sorts of info to help you remember.
__________________
Numbers is hard...
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03-07-2013, 02:50 PM
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#8
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2006
Posts: 6,539
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Quote:
Originally Posted by REWahoo
As you approach the date your mailbox will be filled with all sorts of info to help you remember.
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Aha. They know about our deficiencies, huhn?
__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
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03-07-2013, 02:53 PM
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#9
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2005
Location: Chicago
Posts: 7,801
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They know they want to sell you a Part D and/or supplemental policy and they have your name, address and b'day.
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"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
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03-07-2013, 04:28 PM
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#10
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2006
Posts: 6,539
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Quote:
Originally Posted by youbet
They know they want to sell you a Part D and/or supplemental policy and they have your name, address and b'day.
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I plan to keep my Federal policy and skip the part B, D, and supplements. But, I will thank them for the reminders.
__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
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03-07-2013, 05:54 PM
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#11
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Recycles dryer sheets
Join Date: Jul 2007
Location: East Texas
Posts: 278
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Great article, thanks for sharing. I only wish that I could "hang my hat" on:
Mystery #1: Will Social Security be there for me? Social Security can pay 100% of all promised benefits until 2033. After 2033 it can pay about 75% of promised benefits. There are numerous options to extend solvency indefinitely with a mix of tax increases and/or benefit cuts. If you're a pessimist, subtract 25% from your SSA benefit estimate.
When it comes to the government, I'll admit, I'm a pessimist. Very much so!
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03-07-2013, 08:14 PM
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#12
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Full time employment: Posting here.
Join Date: Feb 2012
Posts: 550
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Quote:
Originally Posted by HighRoller
If you're a pessimist, subtract 25% from your SSA benefit estimate.
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True to form, I subtract 35%.
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Working hard to achieve my dream of retiring at age 50 to join the class of 2013 !
Learning to reduce my fears (of my portfolio running dry) so I can really start to Live (and ER) !
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03-08-2013, 06:45 AM
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#13
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Full time employment: Posting here.
Join Date: Jul 2004
Posts: 647
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Quote:
Originally Posted by donheff
I plan to keep my Federal policy and skip the part B, D, and supplements. But, I will thank them for the reminders.
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This is my year too. I wondered, though, how you determined that you would be better off chosing to forgo Medicare B.
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03-08-2013, 07:04 AM
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#14
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2006
Posts: 6,539
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Quote:
Originally Posted by Tadpole
This is my year too. I wondered, though, how you determined that you would be better off chosing to forgo Medicare B.
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I just talked to a lot of people and followed the discussion on the Fedsoup Medicare forum. As near as I can tell, you can do better buying the Part B if you have a boatload of copays over many years. DW and I have few and no reason to assume we will have a lot. The total costs to me with my current Fed policy and Medicare Part A if a worse case scenario develops is not a big deal. So I figure why bother. My thinking was confirmed by most people I talked to who gave it serious thought.
__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
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