General Discussion

choie

(6,861 posts)

52. MineralMan has your relative looked

Thu Jul 22, 2021, 02:15 PM

Jul 2021

into applying for the Medicare Saving Program? If she’s under a certain income, she may be eligible to have the Medicare Part B premium waived.

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If you're at full SS retirement age, get on SS. [View all] MineralMan Jul 2021 OP

Do the math. See how many years it will take for deferring sign up make a difference Walleye Jul 2021 #1

Exactly. MineralMan Jul 2021 #4

if you have a spouse and you don't plan on dying before you reach 81 or so Voltaire2 Jul 2021 #32

They did away with this option several years back. We were planning on doing this, Native Jul 2021 #61

It remains open for those of us born Voltaire2 Jul 2021 #145

Way to rub it in, Voltaire! LOL. Native Jul 2021 #146

Sorry. Voltaire2 Jul 2021 #147

The hard part - the most important variable in that equation fescuerescue Jul 2021 #128

A sad but true fact Walleye Jul 2021 #129

Agree completely jmbar2 Jul 2021 #2

"The age when you become unemployable" is usually lower than 65. Merlot Jul 2021 #10

True, I'm 60 and... IrishAfricanAmerican Jul 2021 #46

I was 58 in 2008. ShazzieB Jul 2021 #67

Yep... IrishAfricanAmerican Jul 2021 #72

Never be apologetic for accessing funding that you put in there in the first place. OldBaldy1701E Jul 2021 #119

I chose the option of waiting til I was 64 and some months (I forget how many, maybe 3) CTyankee Jul 2021 #140

I interviewed for a job with a free legal aid group at age 50. twodogsbarking Jul 2021 #115

Most corporate employers view 55 as the cut-off since there are benefit plans involved. TheBlackAdder Jul 2021 #138

Good Advice MM leftieNanner Jul 2021 #3

I also started receiving benefits at 62. MineralMan Jul 2021 #7

If you've reached your FRA (66 or 67)your earnings do not affect your social security benefit. RVN VET71 Jul 2021 #135

I had planned to work until 65, but I got breast cancer at 61. We had saved enough Nay Jul 2021 #23

Happened to me, too! Fritz Walter Jul 2021 #65

Well Done!! leftieNanner Jul 2021 #68

I took mine at 62, and my husband just phylny Jul 2021 #81

Another 62 here GoodRaisin Jul 2021 #148

I retired at 50. Began collecting at the earliest possible time, secondwind Jul 2021 #5

62 Here, Too ProfessorGAC Jul 2021 #40

KnR Hekate Jul 2021 #6

My current plan is to get to 67 or 70 dsc Jul 2021 #8

Same situation here mahina Jul 2021 #64

I agree. Take it if you need it; don't delay in order to get more later Ocelot II Jul 2021 #9

Seems insane to live in poverty while waiting for the maxi benefit to kick in. Merlot Jul 2021 #18

Don't you max out at 67? It doesn't even seems she benefits from waiting. Dream Girl Jul 2021 #11

You max out at 70. Benefits increase 8% per year you wait spooky3 Jul 2021 #19

Max is 70. former9thward Jul 2021 #21

No. If you wait, the payment goes up until, I think, 70. MineralMan Jul 2021 #31

I've decided to wait until age 70 Random Boomer Jul 2021 #127

SS payments are actuarially determined. I believe SS uses a target life spooky3 Jul 2021 #12

If you can afford it,and are in good health and likely to live longer than the average ... dawg Jul 2021 #13

I started this year, at 62 mcar Jul 2021 #14

My financial advisor AND tax guy urged me not to wait until 'full retirement age' to sign up Siwsan Jul 2021 #15

Repeating This, But Worthwhile ProfessorGAC Jul 2021 #43

I took mine at 63. llmart Jul 2021 #91

Can I take early benefits and still work? dsc Jul 2021 #97

It's Quite Limited ProfessorGAC Jul 2021 #100

Once you reach your FRA TxGuitar Jul 2021 #109

I took mine at 62, and went part time until last December when I took full retirement. redstatebluegirl Jul 2021 #16

How do you go part time? Do you just paid a part of your benefits and then work part time. Dream Girl Jul 2021 #24

From the SS website: wolfie001 Jul 2021 #34

I started mine in January even though I did not turn 66 until September, therefore vsrazdem Jul 2021 #44

Enjoy!!! wolfie001 Jul 2021 #88

There was a part time job offered in my department after I had left to retire. redstatebluegirl Jul 2021 #99

If waiting will affect your health it's not worth it csziggy Jul 2021 #17

We signed Mom up for an AARP Medicare Supplemental and it saved everything. What plan did you get? Evolve Dammit Jul 2021 #89

I can answer that from my perspective. llmart Jul 2021 #94

We had Plan G as well. And yes, a Godsend. Mom had multiple surgeries for hundreds of thousands Evolve Dammit Jul 2021 #108

I believe the 83-yrs-old rule MOMFUDSKI Jul 2021 #20

It's not a one-size fits all calculation. Ms. Toad Jul 2021 #22

So true, and it's not just the extra 8% you get each year you delay, income earned in those later Native Jul 2021 #55

Excellent advice. n/t Ms. Toad Jul 2021 #57

This was one of my concerns Random Boomer Jul 2021 #132

at 65 I know payment is based on last 36 years Captain Zero Jul 2021 #83

My calculation is pretty complicated. Ms. Toad Jul 2021 #92

Too bad that she doesn't have a close friend or such that can tell her of the pitfalls of not SWBTATTReg Jul 2021 #25

Yup, my brother died 6 months after LittleGirl Jul 2021 #45

My neighbor died a month after he turned full retirement age. llmart Jul 2021 #95

I just don't read about a lot of people complaining Tomconroy Jul 2021 #26

I did a spreadsheet Freddie Jul 2021 #27

It depends upon your health and individual circumstances. Sogo Jul 2021 #28

My dad got one SS payment before he died. appleannie1 Jul 2021 #29

that's so sad XanaDUer2 Jul 2021 #48

That took my dad too. It was before Hospice and was horrible. He grinned when he saw the SS check. appleannie1 Jul 2021 #53

And there is always the ongoingthreat by the pukes to eliminate SS if they get the chance. niyad Jul 2021 #30

This was why I started collecting at 64.5 MurrayDelph Jul 2021 #107

Excellent advice. I retired from the Post Office at 56, and get a "Special Supplement" that Dial H For Hero Jul 2021 #33

Than you for this thread Johnny2X2X Jul 2021 #35

My wife retired at 64 and 9 months TxGuitar Jul 2021 #110

I wish more people would sit down and do the math Johnny2X2X Jul 2021 #122

Agree and I will add ... KentuckyWoman Jul 2021 #36

It's an extra $690 a month for me to wait until 70 ... Auggie Jul 2021 #37

This message was self-deleted by its author Tbear Jul 2021 #117

Well-stated. MineralMan Jul 2021 #130

I agree 100% Ferrets are Cool Jul 2021 #38

I'll add this advice to the advice... NNadir Jul 2021 #39

This message was self-deleted by its author Tbear Jul 2021 #118

My husband had a good retirement so I Tree Lady Jul 2021 #41

ABSOLUTELY XanaDUer2 Jul 2021 #42

I Ingersollman Jul 2021 #47

yep...soon to be 68 here... bahboo Jul 2021 #49

Next August, I reach the full SS retirement age. . . DinahMoeHum Jul 2021 #50

I just figured this out Beausoleil Jul 2021 #51

MineralMan has your relative looked choie Jul 2021 #52

I really don't like "everyone should do THIS" assertions... brooklynite Jul 2021 #54

No one has mentioned the very elderly. It is true that you'll get more money pnwmom Jul 2021 #56

Hopefully in home care will become the norm. We seem to be moving in that direction. Native Jul 2021 #62

Even that is too costly for many to pay for without Medicaid help. pnwmom Jul 2021 #63

Once in-home care becomes 24/7, it is more expensive MineralMan Jul 2021 #66

Similar to my dad Retired Engineer Bob Jul 2021 #96

Probate is for lawyers. They love it! MineralMan Jul 2021 #101

He offered me a job doing research and expediting processes. I said, no, thanks Retired Engineer Bob Jul 2021 #102

When I first contacted him about handling the process, MineralMan Jul 2021 #125

Still working at 72; I waited 'till 70, & am happy I did. I just like the bigger chunk of money each NBachers Jul 2021 #58

Im 68 and plan to wait until 70 to apply. dflprincess Jul 2021 #142

interesting thread and discussion. it's something to think about. IcyPeas Jul 2021 #59

My bro-in-law died at 68 rustysgurl Jul 2021 #60

There is also the broader view. Marcus Pullarius Jul 2021 #69

Excellent advice to her. halfulglas Jul 2021 #70

It's important to assess your own health, too. MineralMan Jul 2021 #71

I don't plan on ever retiring hotrod0808 Jul 2021 #73

Married couples also need to consider what their SS benefit will be if one passes. Native Jul 2021 #74

MY father died at 61. NellieStarbuck Jul 2021 #75

I'm so sorry to read that. Too many of us believe we will MineralMan Jul 2021 #77

I'm planning to collect at 62 in a little over a year. MLAA Jul 2021 #76

There is that, too. MineralMan Jul 2021 #78

She might qualify for the Medicaid program that pays the Medicare premium. Grasswire2 Jul 2021 #79

I ran the numbers extvbroadcaster Jul 2021 #80

My husband was laid off at 68. iwillalwayswonderwhy Jul 2021 #82

When I was approaching retirement age, I put together a spreadsheet calculating the payment... George II Jul 2021 #84

I started pulling SocSec at 62. Never looked back(didn't want to turn into a pillar of salt). GoneOffShore Jul 2021 #85

Simple math can help BlueKentuckyGirl Jul 2021 #86

I don't even know what the rules are DFW Jul 2021 #87

As a still-working 72 year old, I can tell you that you can collect and keep working. I'm having 7% NBachers Jul 2021 #111

Ok, thanks for the advice DFW Jul 2021 #112

Check out my edited links. NBachers Jul 2021 #113

From the world of the federal workforce nitpicker Jul 2021 #90

I started right before they passed the law to update the retirement system and make it retroactive BumRushDaShow Jul 2021 #139

Good thread MM. It helps hear what the differnet experiences are. Thanks Evolve Dammit Jul 2021 #93

I have a question Retired Engineer Bob Jul 2021 #98

It's your "highest" 35 years nitpicker Jul 2021 #103

This assumes you won't go back to well-paid full time work nitpicker Jul 2021 #104

Appreciate your responses Retired Engineer Bob Jul 2021 #105

We were forced into early age SS by Republicans - don't get me started on Backseat Driver Jul 2021 #106

I'm 62 and taking mine now. OnionPatch Jul 2021 #114

Age is only one consideration. You should also consider other income twodogsbarking Jul 2021 #116

Still working and intend on doing so a couple more years. Norbert Jul 2021 #120

If you are sick COLLECT your money from SS. The race is over. The Jungle 1 Jul 2021 #121

I read somewhere half of Americans go out at 62 Generic Other Jul 2021 #123

Not to mention, if Congress and the President don't get their rear in gear TexasBushwhacker Jul 2021 #124

I ran the numbers and decided to start collecting at 62. mnhtnbb Jul 2021 #126

Yeah, I'm lucky TexasBushwhacker Jul 2021 #133

I paid into it for a lot of years and took it at 62 Chautauquas Jul 2021 #131

A lot of financial advisors even recommend taking it early...as soon as you qualify. BobTheSubgenius Jul 2021 #134

Im 64 and 10 months hot2na Jul 2021 #136

For me it will all depend on income/employment madville Jul 2021 #137

At her age she should have hit 100% at 66 MacKasey Jul 2021 #141

I took SS at 62. I could have waited the 3 extra years, but the benefit of doing Texin Jul 2021 #143

When to start SS needs to be a highly individual decision. PoindexterOglethorpe Jul 2021 #144