Signed up for Social Security

[dmc]

I now feel old. I’ll be turning 62 in May, so I went ahead and filed to start taking my SS. I retired 12 years ago and that didn’t bother me, but signing up for SS means I’m really at retirement age.

i don’t need the money, and I’ve read up on all the articles about when the best time to take it. By taking it early I’ll just have that amount invested. Since I don’t know how long I’ll live or what return I’ll get on my investments, I won’t know if this is the best strategy till I’m dead.

But it shouldn’t make any difference in my standard of living, just what’s left for a inheritance. And who knows what changes may be in the future due to the tax laws and SS funding.

[iris lilies]

I am currently in the process of signing up for Medicare, and when that is comlete I am signing up for Social Security. All this free government money is pretty great.

[dmc]

I am currently in the process of signing up for Medicare, and when that is comlete I am signing up for Social Security. All this free government money is pretty great.

if only it didn’t cost us so much during our working years. I would have loved to been able to invest the amount that I and my employer paid over the years. Why do you think teachers and gov workers have such good pensions? They don’t pay into Social Security.

[catherine]

i don’t need the money,

I do. If it hadn't been for the recession I might not need it as much, but I still need it and am grateful that we have a safety net...

All this free government money is pretty great.

...which I have paid into for over 40 years.

I'm happy that you have been both been able to the point where you don't need the Social Security, and you can use it to buy hats (reference: The Jerk).

[SteveinMN]

Why do you think teachers and gov workers have such good pensions? They don’t pay into Social Security.

Huh. When I look at government-worker DW's W-2s for the last years, i see four- and five-digit subtractions for Social Security.

One of us must be wrong.

[dmc]

Huh. When I look at government-worker DW's W-2s for the last years, i see four- and five-digit subtractions for Social Security.

One of us must be wrong.

That sucks if she is also hit with WEP. I am going by what teachers and state of Missouri workers pay. They do not pay into SS, but my wife has worked for a university part time and qualifies for SS, but WEP pretty much reduces it quite a bit.

[Alan]

Huh. When I look at government-worker DW's W-2s for the last years, i see four- and five-digit subtractions for Social Security.

One of us must be wrong.

Someone is always wrong when there is a disagreement. My wife is a public worker in Ohio and does not contribute to Social Security. No public worker in Ohio contributes to Social Security and the Ohio Public Employee Retirement System (OPERS) provides a much better return to its participants, so no great loss there.

She is eligible for SS benefits as well due to her previous employment, although her benefit amount will be lowered due to the Fed's Windfall Elimination Provision while her OPERS pension will not be affected by any SS payments received.

[Simplemind]

I was a public worker and I paid into SS.

[goldensmom]

I am currently in the process of signing up for Medicare, and when that is comlete I am signing up for Social Security. All this free government money is pretty great.

Free?? That was a joke right? I will receive SS for 12 years before I get back all the money I paid in over the years and I am paying taxes again on the my own money that I am getting back. Also, paid into Medicare my entire employment years and will continue to pay monthly premiums just like my BCBS insurance. May be free for some but far from free for me.

[Teacher Terry]

Due to WEP my SS is 300/month at age 66. My pension is only 20k. Not sure what huge pensions Dmc talking about.