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Re: someone who claimed at 62 got an 8% increase this year

Ok thanks everyone..yeah the guy is still working so that could explain it. My husband filed at 65 and kept working full time, and kept getting SS raises to so I guess that's why.

I espcially appreciate all the feedback when I gave so little information to go on... :P
by caroljm36
Fri Aug 22, 2014 7:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: someone who claimed at 62 got an 8% increase this year
Replies: 20
Views: 1503

someone who claimed at 62 got an 8% increase this year

So, I'm at a party with old friends last night, and we started to talk about who was and who was not drawing SS yet..people mostly of the file-at-62 persuasion. *Proudly* I announced at 65 I still hadn't filed, and planned to wait until 70 so I can get the 8% increases. Then I was informed that my f...
by caroljm36
Fri Aug 22, 2014 4:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: someone who claimed at 62 got an 8% increase this year
Replies: 20
Views: 1503

Re: POLL: Age for Collecting Social Security Benefits

In theory I wait until 70, but I may cave at 68 or so. I just want to get the extra $$$ to pay for Medicare and Medigap. Otherwise I could get by on what I would get next year at 67.
by caroljm36
Tue Aug 19, 2014 5:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: POLL: Age for Collecting Social Security Benefits
Replies: 80
Views: 4534

Re: Retirement Party [Investment] Discussions

I have related the same plan as Victoria's to several people, and the kneejerk reaction about deferring SS to age 70 is always, how do you know it will still be there? People have really internalized this notion of vanishing SS. But nobody can venture a guess how or when, in the next 5 years, social...
by caroljm36
Mon Aug 18, 2014 9:48 pm
 
Forum: Investing - Theory, News & General
Topic: Retirement Party [Investment] Discussions
Replies: 50
Views: 3840

Re: Savings Percentage [rules of thumb]

I got a late start and with low wages I saved enough so that my take-home pay was close to what I'd be getting from social security.

It's probably not useful advice for the OP but it worked for me! :happy
by caroljm36
Sun Aug 17, 2014 10:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Savings Percentage [rules of thumb]
Replies: 49
Views: 5184

Re: Vanguard: "Social Security: How to decide when it's time

Why would you "file and suspend your own pension? You just don't file for yours. At FRA you file a RA for spouses benefits. You get your spouse benefit, whatever it is and at 70 you get your own benefit with delayed retirement credits. File and suspend is to allow spousal benefits. and no both...
by caroljm36
Wed Aug 13, 2014 10:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard:"Social Security: How to decide when it's time."
Replies: 79
Views: 5401

Re: Vanguard: "Social Security: How to decide when it's time

Can you file and suspend your own old-age benefit at FRA *and* file for spousal benefit?[ /quote] . Is there any possibility the poster is confusing file and suspend with a restricted application? See for example http://moneyover55.about.com/od/socialsecuritybenefits/a/Restricted-Application-For-So...
by caroljm36
Tue Aug 12, 2014 10:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard:"Social Security: How to decide when it's time."
Replies: 79
Views: 5401

Re: Vanguard: "Social Security: How to decide when it's time

Can you file and suspend your own old-age benefit at FRA *and* file for spousal benefit?
by caroljm36
Tue Aug 12, 2014 1:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard:"Social Security: How to decide when it's time."
Replies: 79
Views: 5401

Re: Buying land and building house

Back in the 40s when a lot of burbs were first subdivided, lots were big and deep, and it was common to build a first modest home way at the back with a long driveway, leaving plenty of room for a bigger house later. So then the original house becomes the mother-in-law, or first home for the newlywe...
by caroljm36
Fri Aug 08, 2014 1:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying land and building house
Replies: 22
Views: 2474

Re: Dave Ramsey still defending 12% and still angry at "nerd

I think I heard the latest big rant on the radio, and yeah it was chock full of strawmen and bad faith..bottom line, he thinks his audience can't handle the nuances of different kinds of funds and that dithering over it will cause them to never invest at all. But I think the same audience would pani...
by caroljm36
Thu Jul 31, 2014 9:12 pm
 
Forum: Investing - Theory, News & General
Topic: Dave Ramsey still defending 12% and still angry at "nerds"
Replies: 194
Views: 22347

Re: Knowledge gaps + anxiety = shame; gender and investing

A significant issue is to convince a woman investor to leave her charismatic high-expense adviser and move to Vanguard. Asking Vanguard to handle it for her will resolve her natural conflict aversion. Victoria This is a great idea. But how unfortunate to be so frightened about one's own money that ...
by caroljm36
Mon Jul 14, 2014 6:20 pm
 
Forum: Investing - Theory, News & General
Topic: Knowledge gaps + anxiety = shame; gender and investing
Replies: 77
Views: 5662

Re: List of Worst financial advice (what not to do):

How about, borrow student loans to the max because it's cheap money - you can invest it and make 8%!

Glad I gave that one a miss.
by caroljm36
Thu Jul 10, 2014 6:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: List of Worst financial advice (what not to do):
Replies: 144
Views: 16239

Re: Boglehead Beer

I'm trying to cut down but I love a couple of our local micros, Dancing Trout and Maibock. I hate IPAs and can't see what the appeal is.
by caroljm36
Wed Jul 09, 2014 6:08 pm
 
Forum: Personal Consumer Issues
Topic: Boglehead Beer
Replies: 386
Views: 47686

Re: List of Worst financial advice (what not to do):

Not understanding how taxes really worked and assuming we didn't qualify for a Roth-IRA for many years because our gross was too high (not realizing it's based on MAGI). I didn't open a Roth for years for the opposite reason, because our income was too low. I knew I could max out my 401k and IRA bo...
by caroljm36
Wed Jul 09, 2014 6:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: List of Worst financial advice (what not to do):
Replies: 144
Views: 16239

Re: List of Worst financial advice (what not to do):

"Buy as much house as you can afford!"

Not sure what the rationale was but I was too timid to do it anyway.
by caroljm36
Tue Jul 08, 2014 11:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: List of Worst financial advice (what not to do):
Replies: 144
Views: 16239

Re: Easy careers to last me to retirement?

Forest Ranger. You can thank me later. When I was working,our top engineer decided he wanted to become a forest ranger. He quit and did that for a couple years , then came back and was rehired. Don't you have to have forestry degree or similar (whatever that would be)? I always thought there was a ...
by caroljm36
Tue Jul 08, 2014 7:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Easy careers to last me to retirement?
Replies: 92
Views: 13962

Re: I found a new coffee.

bit of a snob..I get Seattle's Best at WalMart. They have different grades based on caffeine. I've recently gone from a Level 4 to a 2 or else I will be awake all night on 2 morning cups..must be getting old. :?
by caroljm36
Thu Jul 03, 2014 10:28 pm
 
Forum: Personal Consumer Issues
Topic: I found a new coffee.
Replies: 72
Views: 5483

Re: Paid off home as LTC Insurance?

Most all LTC insurance plans cover AL and HC. Maybe that explains the growth in the number of AL places! There are some nice ones here. Assuming people are buying those policies..more likely paid off houses are paying for them. I notice they're advertising more now so maybe the housing bust has had...
by caroljm36
Sun Jun 29, 2014 6:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paid off home as LTC Insurance?
Replies: 38
Views: 2012

Re: Who do you talk with about your financial goals?

The only one who was half way interested was my hairdresser. Others including my husband aren't interested and get all paranoid about it because they don't know much and don't want to learn.

My hairdresser still took her money to a full service broker, so she doesn't listen to me either. :|
by caroljm36
Sat Jun 28, 2014 9:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Who do you talk with about your financial goals?
Replies: 158
Views: 9166

Re: Paid off home as LTC Insurance?

I don't see the connection between LTC and assisted living. A regular LTC policy would not cover assisted living would it? Isn't it just for nursing home care? Those are two different things.
by caroljm36
Sat Jun 28, 2014 9:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paid off home as LTC Insurance?
Replies: 38
Views: 2012

Re: Retirement age for software engineers

I was laid from part-time software documentation at 65 due to lack of work. A month later the doc manager resigned and now they're advertising the job she had. I learned a lot of her system but she says the president does not like me and it probably isn't worth my time to to apply. At least at 65 I ...
by caroljm36
Tue Jun 24, 2014 4:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Retirement age for software engineers
Replies: 94
Views: 9768

Re: Poll: Dave Ramsey - Harmful or helpful?

I was doing things like Baby Steps and emergency fund long before I heard of him. Debt free since 2002. It was a combination of common sense and the uptight feeling I had about debt in general. His fanatics seem to think it can't be done without him. I think he caters primarily to the ones who got c...
by caroljm36
Mon Jun 23, 2014 7:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Poll: Dave Ramsey - Harmful or helpful?
Replies: 65
Views: 5208

Re: Dave Ramsey - Harmful or helpful?

He gives a lot more good advice than bad. A few days ago, somebody called in and asked him where he got his 12% figure. He said the S&P500 since its inception has averaged 12% return. He then went into a long rant against people who have challenged that figure, saying that their differences wit...
by caroljm36
Sun Jun 22, 2014 7:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Poll: Dave Ramsey - Harmful or helpful?
Replies: 65
Views: 5208

Re: Late starters: what age did you start investing?

I don't think I got started until I was 45. My life was a mess up until then, though I usually managed to save enough to get from one gig to the next, one town to the next, so I wasn't a burden on anyone. But when I finally got married and got a regular job, I started maxing out my IRA right away, a...
by caroljm36
Sat Jun 21, 2014 10:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Late starters: what age did you start investing?
Replies: 73
Views: 5624

Re: flipping real estate infomercial work?

It seems the ones who do best are the ones with the skills, can do most the work to finish quality themselves, if they have to, and know how and whom to hire when they need help. If you don't know how to do much yourself then you're at the mercy of outside contractors. Plus yeah lots of cash. Even t...
by caroljm36
Fri Jun 20, 2014 11:19 am
 
Forum: Personal Finance (Not Investing)
Topic: flipping real estate infomercial work?
Replies: 20
Views: 1600

Re: Home Mortgage question for a 60 year old

I had a friend who got a 30 yr mortgage in his 70s...30 years ago. I don't think age has been a problem for quite awhile now.
by caroljm36
Mon Jun 09, 2014 10:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Home Mortgage question for a 60 year old
Replies: 12
Views: 1271

Re: Should I ask for annual raise?

BradMajors wrote:Are you an employee or self-employed? Employees do not have contracts, and the self-employed do not have a salary.


I wrote contracts for employees at my old company. These were top management people whose longevity in their positions was tied directly to performance.
by caroljm36
Wed Jun 04, 2014 9:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I ask for annual raise?
Replies: 20
Views: 1462

Re: Worst "Large purchase" ever?

Long time ago, but in 1975 I bought a new 280Z for $7200 which is $31k now. I was making only 250 a week. I traded a perfectly good paid off VW for it. :oops:

In a couple months I got someone to take over payments.
by caroljm36
Sat May 24, 2014 6:02 pm
 
Forum: Personal Consumer Issues
Topic: Worst "Large purchase" ever?
Replies: 110
Views: 11713

Re: Long term care and Medicare premiums

It's typical for the elderly to make the circuit of hospital to nursing home back home to hospital etc several or even many times before the end. My best friend has done this 4-5 times already at 75. Doctors visit them sometimes, RN's dispense drugs, and there is physical therapy if there's a chance...
by caroljm36
Thu May 22, 2014 8:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Long term care and Medicare premiums
Replies: 12
Views: 1136

Re: How much SS at 70 if I retire at 66?

It keeps going up if you don't file at 66, even if you never earn another dime. It was quite an eye-operner for me.
Do play with the SSA calculator - it's fun and you can add all sorts of scenarios.
by caroljm36
Fri May 16, 2014 12:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much SS at 70 if I retire at 66?
Replies: 37
Views: 2610

Re: Passbook Accounts - Poll

When I was in third grade, LA city schools, the B of A would come around and get all the kids to start savings accounts, and gave us those little magic passbooks. They seemed kinda sacred, made of special papers, like dollars or a passport. Sadly, the program didn't 'take' with me, and I spent my li...
by caroljm36
Sun May 11, 2014 7:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Passbook Accounts - Poll
Replies: 29
Views: 1530

Re: does anyone use bank Bill Pay for Medicare premiums?

mur44 wrote:OK to use Bill Pay to pay Medicare Part B premium.

Once you start receiving SS benefits, Medicare Part B
premium is deducted from SS benefit amount.


Disclosure: I am a Certified Volunteer Medicare Counselor from NJ


OK thanks. It should be a smooth transition next February.
by caroljm36
Fri May 09, 2014 3:40 pm
 
Forum: Personal Consumer Issues
Topic: does anyone use bank Bill Pay for Medicare premiums?
Replies: 8
Views: 554

Re: does anyone use bank Bill Pay for Medicare premiums?

Yes I originally signed up for direct pay from my bank, but changed it when I realized it would be for only a year then they will take out of my spousal SS next year. So I didn't want to risk a double charge that would take months to resolve.
by caroljm36
Fri May 09, 2014 12:54 pm
 
Forum: Personal Consumer Issues
Topic: does anyone use bank Bill Pay for Medicare premiums?
Replies: 8
Views: 554

does anyone use bank Bill Pay for Medicare premiums?

Lately I've been using my bank's Bill Pay service for everything, except my Medicare premium. I'm not on SS yet so they don't get it there. Bill Pay is still kinda new to me and it makes me nervous to use it with the feds because I'm not really sure how it works.

Anyone pay it this way?
by caroljm36
Fri May 09, 2014 10:27 am
 
Forum: Personal Consumer Issues
Topic: does anyone use bank Bill Pay for Medicare premiums?
Replies: 8
Views: 554

Re: SS Question

You can run additional scenarios with 0 entered in for earnings, but only from the present time IIRC. Works for me because I'm so close to FRA. :happy
by caroljm36
Thu May 08, 2014 10:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: SS Question
Replies: 24
Views: 1540

Re: Associated Press story/retirement

Sounds like a setup to justify *doing something* to address this terrible problem du jour.
by caroljm36
Tue May 06, 2014 11:01 am
 
Forum: Personal Finance (Not Investing)
Topic: [AP reporter seeks interviews: difficulty saving]
Replies: 21
Views: 2326

Re: applying for disability without attorney assistance

It's actually better to file on your own first, then get an attorney for the appeal, if there is one. Getting an attorney at the start is just a waste of 25% of that lump sum payment in a slam dunk case. I assume your father has his own doctor to make a report. Don't rely on the SSA doctor - he's on...
by caroljm36
Sun May 04, 2014 6:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: applying for disability without attorney assistance
Replies: 8
Views: 750

Re: Are my retirement dreams a mirage?

anonforthis wrote:I see a lot of old people walking around the mall during working hours. I don't really want to retire like that but I guess one can only travel so much.


Mallwalkers..that's for exercise. It's easy and safe, usually.

I doubt they leave a lot of money there.
by caroljm36
Fri May 02, 2014 1:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Are my retirement dreams a mirage?
Replies: 39
Views: 4205

Re: POLL: the WORST financial advice you've given/received?

My hairdresser showed me her portfolio of funds at Edward Jones, and I advised her to get out. But I meant to get out and go to Vanguard or Fidelity, but the whole idea intimidated her and she took her money to a full service broker instead. :oops: Looking back I realize her funds weren't all that b...
by caroljm36
Sun Apr 27, 2014 4:18 pm
 
Forum: Investing - Theory, News & General
Topic: POLL: the WORST financial advice you've given/received?
Replies: 61
Views: 15151

Re: Tell Me I'm Stupid To Consider Quitting My Job and Movin

Maybe pick a town you like, hang out your shingle and take the cases you want. Be your own boss. Set your hours. Make good money while you are at work. Enjoy yourself when you aren't. Brainstorming. Hoosier +1 Excellent advice He will need to take the bar exam in MT...dang few exceptions to the rule.
by caroljm36
Thu Apr 24, 2014 3:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tell Me I'm Stupid To Consider Quitting My Job and Moving
Replies: 123
Views: 27845

Re: Short-term Bond Index Fund

I'm using it for part of my emergency funds, not sure why anymore. It used to be the thing to do, like GNMA. :|
by caroljm36
Wed Apr 23, 2014 1:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Short-term Bond Index Fund
Replies: 14
Views: 2170

Re: Where would you retire, if $ were no object?

Laguna-Balboa area, or San Francisco.
by caroljm36
Wed Apr 23, 2014 1:26 pm
 
Forum: Personal Consumer Issues
Topic: Where would you retire, if $ were no object?
Replies: 89
Views: 19309

Re: The reverse world of retirement investing

Read it the other day, who is retired and would be a 100% stocks and 5% withdraw rate :oops: John Rabid Ramseyites would be 100% stocks, but that's not nearly as much as Dave Ramsey promises his followers that they can withdraw. Dave advocates investing only in equities, and tells his followers the...
by caroljm36
Tue Apr 22, 2014 6:55 pm
 
Forum: Investing - Theory, News & General
Topic: The reverse world of retirement investing
Replies: 34
Views: 4844

Re: The slackening...

I've noticed in particular the children of very rich or famous to tend to have "problems" or at least underwhelming achievements. I'm thinking of musicians now but it could be any line of work. I wonder if the intense focus of the parent on things other than family (business, art, politics...
by caroljm36
Sun Apr 13, 2014 7:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: The slackening...
Replies: 61
Views: 7931

Re: Medicare - wanting basic info, choices, checklist

There is a three month window to sign up, before your birthday, and I think a three month period after as well. I signed up as soon as I was within the 3 month period so didn't really consider the latter. There is plenty of info at medicare.gov but also there is probably an aging services agency in ...
by caroljm36
Tue Apr 08, 2014 6:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicare - wanting basic info, choices, checklist
Replies: 7
Views: 474

Re: Laid off today... TODO list?

Could this be any more snarky? I was the acknowledged best in my job title and still got laid off for 6 months before they called and asked me to come back to work. At over 60 years of age all of my attempts to gain employment elsewhere failed. Ok...then my post wasn't about you, and I'm sorry for ...
by caroljm36
Sun Apr 06, 2014 6:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Laid off today... TODO list?
Replies: 97
Views: 12200

Re: Delaying Social Security - best long-term investment?

caroljm36, it confused me, too, but I concluded that it was just an error on Kitce's part and that he really intended for that "62" to be "70". Try that, and it will make sense. gee, I shouldn't have to make a leap like that...aren't these articles edited? Anyway, 65 and still h...
by caroljm36
Sun Apr 06, 2014 11:53 am
 
Forum: Investing - Theory, News & General
Topic: Delaying Social Security - best long-term investment?
Replies: 78
Views: 4068

Re: Delaying Social Security - best long-term investment?

Well it didn't take me long to get confused! The “breakeven” period with these assumptions is just over 22 years; or stated another way, for the individual who chooses to delay until age 62, it takes until beyond age 84 just to recover the economic value of having waited. How can you "delay&quo...
by caroljm36
Sun Apr 06, 2014 10:37 am
 
Forum: Investing - Theory, News & General
Topic: Delaying Social Security - best long-term investment?
Replies: 78
Views: 4068

Re: Laid off today... TODO list?

rixer wrote:
siamond wrote:

It's my understanding that your company has to pay 65% of the cobra bill for a certain number of months. check into that.


Wow, that's not what happened to me. I had to pay about 105% of actual cost after they put me on part time last year.
by caroljm36
Wed Apr 02, 2014 6:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Laid off today... TODO list?
Replies: 97
Views: 12200

Re: Laid off today... TODO list?

You got a severance and you're able to draw unemployment. With only a year to go for your planned early retirement, some people would draw unemployment until it runs out and then retire. That's my plan. I got laid off in February and it was the happiest day of my life. :sharebeer Now I am on UE but...
by caroljm36
Wed Apr 02, 2014 6:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Laid off today... TODO list?
Replies: 97
Views: 12200
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