lslibn 's List: When to Collect Social Security Benefits

Investing Social Security Benefits Not Worth the Risk 2

May 30, 11

Discusses pitfalls of investing early benefits. Also discusses the effect on survivor benefit.

www.kiplinger.com/...ty-benefits-not-worth-the.html Social Security benefits retirement finances
- But, says Floyd, a consistent rate of return is theoretical. "No investment I know of pays a consistent 8% for 30 years," she says. And if you don't get your planned returns, you could end up short on cash at 85 or 90. If the person above takes reduced benefits at 62, he will receive $3,974 a month by age 90, compared with $6,708 a month if he delays until 70, she says.
- If you are married, think twice about claiming early. The longer a higher-earning spouse delays, the larger the survivor benefit will be for the lower-earning spouse. The survivor benefit is worth 100% of the higher earner's benefit.
http://www.austinlemoine.com/documents/File32.pdf

May 30, 11

Taking early benefits for investment is discussed.

www.austinlemoine.com/...File32.pdf Social Security benefits retirement finances
Engineering Your Retirement 1

May 30, 11

Includes Suze Orman's recommendation to take early retirement benefits, invest them, discontinue benefits, and repay SSA amount received.

engineeringyourretirement.blogspot.com Social Security benefit retirement finance
- From NJ Times, June 16, 2007: “ . . .Suze Orman, a well-known financial adviser who has written many books and appears frequently on TV to promote her books and videos, pushes her own Social Security scheme involving withdrawal of a Social Security claim. She advises retirees to file for reduced Social Security benefits at age 62. She then tells them to invest every nickel of benefits they receive between ages 62 and 66. Then, at age 66, she instructs her clients to withdraw their original Social Security claim. As part of that plan, they have to repay all benefits received. They should be able to do that with no financial problems assuming they followed her advice and invested all the Social Security money they had received.
  
  The good news is that they (her clients) get to pocket the interest. The SSA does not charge interest when they ask people to repay benefits after a claim is withdrawn. And finally, to close the circle on the "Suze Orman Social Security Scheme," she tells her clients to file a new claim for full (age 66) benefits right after they withdraw the old age- 62 claim.
Top 6 Myths About Social Security Benefits

May 30, 11

Includes information on taxation of Social Security benefits.

www.investopedia.com/...6-retirement-myths.asp Social Security benefits retirement finances
When Should You Take Social Security? 1

May 30, 11

Informative article includes how both Social Security benefits are calculated for those who opt for early benefits. Also has a break-even chart.

www.schwab.com/..._you_take_social_security.html Social Security benefits retirement finances
- You'll get a penalty for starting too early ...
  If you choose to start receiving your Social Security check before your normal retirement age, your benefit is reduced by five-ninths of 1% for each month before that age, up to 36 months. If you start more than 36 months before your normal retirement age, the benefit is further reduced by five-twelfths of 1% per month.
How Work Affects Your Benefits

May 30, 11

Explains how Social Security benefits are reduced if early retiree works and earns over $14,000.

www.ssa.gov/10069.html Social Security benefits retirement finance
Retirement Advice on when to Collect Social Security.

May 30, 11

toolsformoney.com/social_security.htm Social Security benefits retirement finance

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lslibn

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If you are able to invest the full amount, is it more cost effective to start collecting Social Security benefits at age 62 or wait until one can collect full benefits at age 66 or later?

Updated on May 30, 11
Created on May 30, 11

Category: Business & Finance

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lslibn 's List: When to Collect Social Security Benefits

Investing Social Security Benefits Not Worth the Risk 2

http://www.austinlemoine.com/documents/File32.pdf

Engineering Your Retirement 1

Top 6 Myths About Social Security Benefits

When Should You Take Social Security? 1

How Work Affects Your Benefits

Retirement Advice on when to Collect Social Security.

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