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Thread: Signed up for Social Security

  1. #1
    Senior Member dmc's Avatar
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    Signed up for Social Security

    I now feel old. Iíll be turning 62 in May, so I went ahead and filed to start taking my SS. I retired 12 years ago and that didnít bother me, but signing up for SS means Iím really at retirement age.

    i donít need the money, and Iíve read up on all the articles about when the best time to take it. By taking it early Iíll just have that amount invested. Since I donít know how long Iíll live or what return Iíll get on my investments, I wonít know if this is the best strategy till Iím dead.

    But it shouldnít make any difference in my standard of living, just whatís left for a inheritance. And who knows what changes may be in the future due to the tax laws and SS funding.

  2. #2
    Senior Member iris lilies's Avatar
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    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.

  3. #3
    Senior Member dmc's Avatar
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    Quote Originally Posted by iris lilies View Post
    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 didnít 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 donít pay into Social Security.

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    Senior Member catherine's Avatar
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    Quote Originally Posted by dmc View Post
    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).
    "Do any human beings ever realize life while they live it--every, every minute?" Emily Webb, Our Town
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    Senior Member SteveinMN's Avatar
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    Quote Originally Posted by dmc View Post
    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.
    Success is to be measured not so much by the position that one has reached in life as by the obstacles which he has overcome. - Booker T. Washington

  6. #6
    Senior Member dmc's Avatar
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    Quote Originally Posted by SteveinMN View Post
    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.

  7. #7
    Simpleton Alan's Avatar
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    Quote Originally Posted by SteveinMN View Post
    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.
    "Things should be made as simple as possible, but not one bit simpler." ~ Albert Einstein

  8. #8
    Senior Member Simplemind's Avatar
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    I was a public worker and I paid into SS.

  9. #9
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    Quote Originally Posted by iris lilies View Post
    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.

  10. #10
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    Due to WEP my SS is 300/month at age 66. My pension is only 20k. Not sure what huge pensions Dmc talking about.

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