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#81132 - 01/08/06 05:42 AM Benefits
chatty lady Offline
Writer

Registered: 02/24/04
Posts: 20267
Loc: Nevada
There is a question I have about retiring. I work from home and so wouldn't really be retiring but now receive a Widows benefit which is nearly $750.00 a month. If I retired now I'd get my own benefits but lose the widows benefits as you can get just one (not fair) but thats the rules. My own right now at 65+6 months would get me $890.00 or so but if I waited until age 70 that goes up to $1200.00 or so a month. So do I take retirement now and get what I can or wait and hope I make it to 70? What do you think?

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#81133 - 01/08/06 07:07 AM Re: Benefits
Sadie Offline
Member

Registered: 10/08/04
Posts: 1274
Loc: MD
Chatty,
Have you Checked the Social Security Web Site . I can send that too you . When My father died my mother got my father Social Security and her own and brought her up to over a $1,000.00 a month and then increased every year. I will send you there web site .
Is this the new rule . ? That does not seen right .

[ January 07, 2006, 11:09 PM: Message edited by: Nancy50 ]

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#81134 - 01/08/06 07:29 AM Re: Benefits
Sadie Offline
Member

Registered: 10/08/04
Posts: 1274
Loc: MD
Chatty,
There Web site for Social Security is

www.ssa.gov/

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#81135 - 01/09/06 08:18 AM Re: Benefits
jawjaw Offline
Da Queen

Registered: 07/02/03
Posts: 12025
Loc: Alabama
Chatty,
Don't forget to take advantage of the Financial expert we have at NABBW of which you are a member!

JJ

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#81136 - 01/09/06 12:58 AM Re: Benefits
Dotsie Offline
Founder

Registered: 07/09/08
Posts: 23647
Loc: Maryland
I sent her the email address since she's a member of NABBW. Thanks for being on your toes queenie!

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#81137 - 01/10/06 05:12 AM Re: Benefits
Louisa Offline
Member

Registered: 07/11/04
Posts: 2132
Loc: MA
I thought you could only get one or the other. You can take the higher one. I'm not familiar with widows benefits, only that if you remarry you lose them I think. I know that because I had remarried, I was no longer entitled to my ex's SS and not when he died either. But, if I hadn't remarried I would have been able to get them. As for the second marriage, I can collect half of my husband's or my own, which ever is higher. Take a look at the website Chatty. There are a lot of new rules and things we didn't know about until my husband was nearing retirement and we started looking into it.

Louisa

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#81138 - 02/26/06 09:30 PM Re: Benefits
Maritza Offline
Member

Registered: 02/16/06
Posts: 53
Loc: Miami, Florida
Take advantage of the NOW, spend your money, travel, have fun, do not invest in any bonds, retirement plan, etc. and pray, pray, pray, for your sanity, for your health, for the friends who will support you if you fall at the hands of the Guardianship Circuit Court of your County... believe me, they will take EVERYTHING YOU EVER WORKED FOR.... NOTHING CAN PROTECT YOU, NOT A LIVING WILL,OR ANY OTHER TYPE OF LEGAL 'SAFEGUARD' YOU THINK CAN MAKE THEM DO WHAT YOU WANT !!!! the more you have, the better target you are... and then, you die. Become involve to change the current state of affairs. If WE are lucky, changes will protect us... Maritza

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#81139 - 02/27/06 05:23 AM Re: Benefits
chatty lady Offline
Writer

Registered: 02/24/04
Posts: 20267
Loc: Nevada
Maritza, can you contact AARP and maybe get something into their monthly newsletter or the magazine? The more noise made about this now the better....We could all sign petitions if you have any. I would be willing to gather signatures. Also this forum and others are seen by many people so write about it all you can. I still believe TALK RADIO hosts like Michael Reagan, Michael Savage of the Savage Nation would be extremely helpful at getting the story out...God bless your efforts....

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#81140 - 03/06/06 03:10 AM Re: Benefits
Paige Offline
Member

Registered: 11/14/05
Posts: 8
Loc: New Hampshire
Chatty Lady, If you can afford to take the money now, I would. Do you have a financial advisor? They are great. Get one that is an independent and not part of an investment house that will try an sell you something.

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#81141 - 03/06/06 03:23 AM Re: Benefits
Sherri Offline
Member

Registered: 03/12/04
Posts: 1177
Loc: Decatur, Illinois
I would say take the higher amount now, but then I'm a great one for talking, I retired with just a $332 pension. But talk about being happier!!!!!

Sherri

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#81142 - 03/06/06 04:54 AM Re: Benefits
chatty lady Offline
Writer

Registered: 02/24/04
Posts: 20267
Loc: Nevada
Thank you all so very much, Paige, Sherri, Dotsie, Jaw Jaw, Maritza and Louisa and Renee there is a host of information on that ssa site. Thanks so much!

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#81143 - 03/07/06 02:31 AM Re: Benefits
Anonymous
Unregistered


Chatty, I would take the higher at $890 or look at the differential between $890 or $1200 with about 4.5 years remaining, thus there are 2 scenarios (if I interpreted your question above, this is!) (I've averaged to age 85):

1. Option 1 where you continue widows benefit and then switch to your personal benefit at age 70:

$750 for 4.5 years = $40,500 (widows benefits) + $1,200 for age 70 (once you switch to your benefits) = $216,000. Overall total = $256,500 (estimate w/out inflation).

2. Option 2 where you switch to your benefits now: $890 x 234 (mths) = $208,260 (estimate w/ out inflation).

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#81144 - 03/07/06 05:45 AM Re: Benefits
chatty lady Offline
Writer

Registered: 02/24/04
Posts: 20267
Loc: Nevada
MustangGal this is great and will help me to make an educated choice. Looks obvious when seen in black and white....thanks a bunch!

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