Thread: PessOptimist's Account Talk

Originally Posted by nnuut

Yep they cut my SS 60% when I retired. WEP, WEP =, RIPOFF!

When it's my turn to collect, the government will be saying "Social Security? What's that??"

Originally Posted by Cactus

So it's your SS that takes the hit? I always thought that it was your CSRS that took the hit if you qualified for SS no matter when you took it. Not that it matters to me, I'm FERS, but I had a Car Pool buddy on CSRS who claimed he had to take SS at 62 because they were going to dock his CSRS whether he took SS at 62 or not.

Your buddy was probably CSRS Offset. I had the same issue.

Back to posting now. Having dealt with many vbulletin message boards over the years, I usually write my reply off line and copy/paste to submit. So I will try to submit Saturdays posts.

PO

Originally Posted by Scout333

Very reasonable approach. Also, there used to be a quirky rule which allows the partner who has reached their full retirement age to suspend their Soc. Sec. to age 70 but still draw 50% of their spouse's Soc. Sec. until they reach 70. Not sure if this is still allowed heard a rumor that this rule has been changed? Might be worth checking into.

Originally Posted by Scout333

PO, unfortunately law was changed effective 4-30-2016.
https://www.ssa.gov/planners/retire/claiming.html

Thanks for the input Scout. My SO had heard about that rule but misinterpreted it. She has a friend who is an “expert” on getting government payments. They are still both convinced that when she turn 62 she can get ½ of my “full” amount, regardless of whether I am receiving benefits or not, and when she turns 70 get her benefit on top of that. It’s OK, everyone needs a financial advisor.

PO

Originally Posted by PessOptimist

Thanks for the input Scout. My SO had heard about that rule but misinterpreted it. She has a friend who is an “expert” on getting government payments. They are still both convinced that when she turn 62 she can get ½ of my “full” amount, regardless of whether I am receiving benefits or not, and when she turns 70 get her benefit on top of that. It’s OK, everyone needs a financial advisor.

PO

Reminds me of an old quote " A man or woman convinced against their will are of the same opinion still" Good luck convincing SO of the error of her ways! LOL

Originally Posted by nasa1974

I've got to start brushing up on SS. I'll be 67 and the wife will be 66 this year and I've been thinking about when we should tap into SS. Part of the problem is I'm CSRS and earned all my SS points outside the government but will get hit with the penalty. Hoping to hold off until 70 1/2 to start using my TSP.

At the very least you and the wife should go to https://secure.ssa.gov/ and establish accounts if you have not already. You can get estimates of the amount you will receive at different ages. Assuming you and wife have 40 credits. It’s all explained on the web site.

PO

Originally Posted by Scout333

Reminds me of an old quote " A man or woman convinced against their will are of the same opinion still" Good luck convincing SO of the error of her ways! LOL

Against their will? Not sure that applies here. When the time comes I will make her log in or call to apply for herself so she can get what she gets. I established an account at her request a few years ago and have given her the user name and password but she claims not as it is not on her immediate horizon.

PO

Originally Posted by PessOptimist

At the very least you and the wife should go to https://secure.ssa.gov/ and establish accounts if you have not already. You can get estimates of the amount you will receive at different ages. Assuming you and wife have 40 credits. It’s all explained on the web site.

PO

Thanks PO,

We have online accounts with both SS and Medicare. We both have been to a seminar or two on SS but the information doesn't stick for very long if you don't plan to use it right away.

Careful...I think that age 62 rule is if your spouse(or ex spouse) is dead...then you can collect theirs.

Originally Posted by nasa1974

PO, Congrats. The first month feels like a vacation. Then reality sets in.

I was doing OK on reality setting in until I got an email about a weather related problem with my former system. I couldn't stop thinking about actions needed and that I should go in to work. LOL!

You will get over that PO. For a while after I retired folks would call me at home when they didn't know what to do, but after about 2 months it stopped. Oh HELL they don't need me anymore! They were trained well and knew their stuff! FORGET ABOUT IT!