Anyone 70 (or Older) Refile Using SSA Form 521 After Collect

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Anyone 70 (or Older) Refile Using SSA Form 521 After Collect

Postby EyeYield » Sat Dec 29, 2012 9:14 pm

...after collecting from age 62?

One theory is to invest the payouts collected from age 62, make a profit, then repay the principal and refile for full benefits at 70.

Has anyone been successful at this, admittedly risky, strategy?

I suppose CD's wouldn't be that risky, but hardly worth the effort, unless rates rise significantly.

There must be lots of possibilities, as well as obvious things I'm missing.
"The stock market is a giant distraction from the business of investing." - Jack Bogle
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Re: Anyone 70 (or Older) Refile Using SSA Form 521 After Col

Postby sscritic » Sat Dec 29, 2012 9:59 pm

Sure, there are some famous threads on the issue. The problem for you, if you are considering this, is that the rules were changed two(?) years ago. If you file at 62, you only have until 63 to withdraw your application. You only have 12 months from your filing date to withdraw.
if you change your mind 12 months or more after you became entitled to retirement benefits, you cannot withdraw your application.
http://www.ssa.gov/retire2/withdrawal.htm
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Re: Anyone 70 (or Older) Refile Using SSA Form 521 After Col

Postby EyeYield » Sun Dec 30, 2012 1:56 am

sscritic wrote:Sure, there are some famous threads on the issue. The problem for you, if you are considering this, is that the rules were changed two(?) years ago. If you file at 62, you only have until 63 to withdraw your application. You only have 12 months from your filing date to withdraw.
if you change your mind 12 months or more after you became entitled to retirement benefits, you cannot withdraw your application.
http://www.ssa.gov/retire2/withdrawal.htm

I guess I was born too late. I just read about SSA Form 521 in Bogleheads Guide To Retirement, published in 2009.
Oh well, I bet there were some interesting strategies while it lasted.
Still, there must be some over 70 that made it work to their advantage.
I searched SSA Form 521, but didn't see any big threads about it.
"The stock market is a giant distraction from the business of investing." - Jack Bogle
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Re: Anyone 70 (or Older) Refile Using SSA Form 521 After Col

Postby sscritic » Sun Dec 30, 2012 2:04 am

You don't have to overdo the search, just type 521 in the search box and hit enter. I will do it for you.
http://www.google.com/search?q=521&site ... eheads.org
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Re: Anyone 70 (or Older) Refile Using SSA Form 521 After Col

Postby EyeYield » Sun Dec 30, 2012 1:34 pm

sscritic wrote:You don't have to overdo the search, just type 521 in the search box and hit enter. I will do it for you.
http://www.google.com/search?q=521&site ... eheads.org

:oops: Google, who knew? I just tried searching here.
Thanks sscritic, he said, embarrassedly. Looks like another book to read.
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Re: Anyone 70 (or Older) Refile Using SSA Form 521 After Col

Postby sscritic » Sun Dec 30, 2012 1:44 pm

EyeYield wrote: :oops: Google, who knew? I just tried searching here.
Thanks sscritic, he said, embarrassedly. Looks like another book to read.

That wasn't google direct. That was the bogleheads search box which uses google. That's the way I search bogleheads; I use the bogleheads search box.

If you look at the actual url, you will see the &sitesearch=bogleheads.org; that means that google has restricted itself to bogleheads.org. You can restrict google yourself. If you want to search for the IRS answers to tax questions, add site:irs.gov as a separate search term, e.g.,

mortgage deduction site:irs.gov (site can go in front as well)
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Re: Anyone 70 (or Older) Refile Using SSA Form 521 After Col

Postby EyeYield » Sun Dec 30, 2012 2:11 pm

sscritic wrote:
EyeYield wrote: :oops: Google, who knew? I just tried searching here.
Thanks sscritic, he said, embarrassedly. Looks like another book to read.

That wasn't google direct. That was the bogleheads search box which uses google. That's the way I search bogleheads; I use the bogleheads search box.

If you look at the actual url, you will see the &sitesearch=bogleheads.org; that means that google has restricted itself to bogleheads.org. You can restrict google yourself. If you want to search for the IRS answers to tax questions, add site:irs.gov as a separate search term, e.g.,

mortgage deduction site:irs.gov (site can go in front as well)

Right, I just tried forum search, I figured it out. Damn internets contraptions, where's my buggy whip?
"The stock market is a giant distraction from the business of investing." - Jack Bogle
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Re: Anyone 70 (or Older) Refile Using SSA Form 521 After Col

Postby Default User BR » Sun Dec 30, 2012 2:28 pm

sscritic wrote:If you look at the actual url, you will see the &sitesearch=bogleheads.org; that means that google has restricted itself to bogleheads.org. You can restrict google yourself. If you want to search for the IRS answers to tax questions, add site:irs.gov as a separate search term

I used to search Bogleheads that way in the old days.


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