Millions are "Unretiring"

[Irishgirlyc58]

For those of middle-class or higher incomes, Social Security becomes a complex program. In my case, with a public pension that includes years where I didn't pay SS, the questions are extremely complex.

I fall into this category. What’s complex about it?
What am I missing?

 

[homestead]

Did we miss any scenarios?

Reverse Mortgage is another option.

 

[Gumby]

I fall into this category. What’s complex about it?
What am I missing?

I'd say that the WEP and GPO are complicating factors.

 

[Koolau]

Yes. A two family home in town with my BIL and his wife living upstairs; a small beach house; and a piece of property with olive trees. They live in Europe. FIL spent a lot of money on BIL over the years, and it is my understanding that his old age government pension (like our SS) was reduced due to the country's fiscal mess. My DH is a very good man and he is soft-hearted. I feel like the Wicked Witch of the West.

Here's the kicker: When the parents pass, you will be cut out of the inheritance. BIL will get it all because "you don't need it but BIL does." I've seen it too many times.

(Not a psychologist) but there seems to be a codependency with DH and parents. These things rarely end well. One of my direct reports had to w*rk to 65 because her second husband kept bailing out (figuratively and literally) his son from previous marriage. Eventually, the son committed a federal felony and has ended up in prison for many years. It's (unfortunately) the best thing that has happened to everyone but the "evil" son.

Not my place to say it, but I would tell DH to stop the money flow. Believe me, with the assets you mention, they will figure it all out and survive. You are NOT the wicked witch of ANY compass point! YMMV

 

[Out of Steam]

I'd say that the WEP and GPO are complicating factors.

I'm dealing with WEP, and thought I would be subject to GPO, but apparently will not.

Even without those factors, questions of claiming age, longevity, survivor's benefits, and IRMAA make it complex.

 

[Sunset]

Here's the kicker: When the parents pass, you will be cut out of the inheritance. BIL will get it all because "you don't need it but BIL does." I've seen it too many times.




Not my place to say it, but I would tell DH to stop the money flow. Believe me, with the assets you mention, they will figure it all out and survive. You are NOT the wicked witch of ANY compass point!

+1

They have plenty of assets, can sell or rent out.

 

[MarieIG]

Here's the kicker: When the parents pass, you will be cut out of the inheritance. BIL will get it all because "you don't need it but BIL does." I've seen it too many times.

(Not a psychologist) but there seems to be a codependency with DH and parents. These things rarely end well. One of my direct reports had to w*rk to 65 because her second husband kept bailing out (figuratively and literally) his son from previous marriage. Eventually, the son committed a federal felony and has ended up in prison for many years. It's (unfortunately) the best thing that has happened to everyone but the "evil" son.

Not my place to say it, but I would tell DH to stop the money flow. Believe me, with the assets you mention, they will figure it all out and survive. You are NOT the wicked witch of ANY compass point! YMMV

- I expect that you are 110 percent correct;

- He does care about them;

- I pulled out the Big Guns "Do you realize this is money which could have been spent on the Baby?" (we have a special needs GD whom he adores);

- Thank you.

 

[skyking1]

ahem.
That is properly DGD in FIREspeak.

 

[MarieIG]

ahem.
That is properly DGD in FIREspeak.

I stand corrected! She is such a sweetheart.