Search found 2926 matches

by ObliviousInvestor
Fri Feb 05, 2016 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: file for social security so wife can get widow benefit?
Replies: 7
Views: 562

Re: file for social security so wife can get widow benefit?

" However, I would run the numbers or even better yet, post them here for both of your PIA amounts (the benefit amount at age 66 for each of you) to get the opinion of others here. " Vested1 - here are the numbers if anyone would like to offer advice: Me: 66 years old -- excellent health ...
by ObliviousInvestor
Fri Feb 05, 2016 11:58 am
Forum: Investing - Theory, News & General
Topic: Delaying SS Benefits?
Replies: 25
Views: 1560

Re: Delaying SS Benefits?

Perhaps this will help with the intuition side of things. If 1,000 people of the same age each buy a lifetime annuity from a given insurance company, the company does not simply pool the premiums, then pay that money (minus costs and desired profit) back out to the annuitants based on life expectanc...
by ObliviousInvestor
Fri Feb 05, 2016 11:44 am
Forum: Investing - Theory, News & General
Topic: Delaying SS Benefits?
Replies: 25
Views: 1560

Re: Delaying SS Benefits?

But, with the 30 year TIPS at any positive real interest rate, it seems like it would always be better for a 62 year old to take SS early from a purely financial angle, ie., ignoring immediate income need, longevity, estate issues, and tax consequences. Not so? No. You seem to be assuming that the ...
by ObliviousInvestor
Fri Feb 05, 2016 11:20 am
Forum: Investing - Theory, News & General
Topic: Delaying SS Benefits?
Replies: 25
Views: 1560

Re: Delaying SS Benefits?

But, with the 30 year TIPS at any positive real interest rate, it seems like it would always be better for a 62 year old to take SS early from a purely financial angle, ie., ignoring immediate income need, longevity, estate issues, and tax consequences. Not so? No. You seem to be assuming that the ...
by ObliviousInvestor
Fri Feb 05, 2016 10:58 am
Forum: Investing - Theory, News & General
Topic: Delaying SS Benefits?
Replies: 25
Views: 1560

Re: Delaying SS Benefits?

But, with the 30 year TIPS at any positive real interest rate, it seems like it would always be better for a 62 year old to take SS early from a purely financial angle, ie., ignoring immediate income need, longevity, estate issues, and tax consequences. Not so? No. You seem to be assuming that the ...
by ObliviousInvestor
Thu Feb 04, 2016 11:16 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation of fellowship
Replies: 37
Views: 1480

Re: Taxation of fellowship

Ah, true, but you need to be 21 or older to earn DI credits. I do not think this is true. If you go here and look at CFR 404.140-404.146, it doesn't say anything about needing to be 21 in order to earn quarters of coverage. Age 21 is relevant though in terms of counting how many quarters you need i...
by ObliviousInvestor
Thu Feb 04, 2016 11:11 pm
Forum: Personal Finance (Not Investing)
Topic: Tax rate on IRA withdrawal when on Social Security
Replies: 25
Views: 1483

Re: Tax rate on IRA withdrawal when on Social Security

Doc: Given our pensions, 85% of our SS is taxed. To estimate our taxes, I calculated our AGI and MAGI by summing our sources of income excluding SS and then added 85% of SS income. Next, I calculated our Federal Taxable Income by subtracting our standard deduction and exemptions from MAGI. Then, I ...
by ObliviousInvestor
Thu Feb 04, 2016 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation of fellowship
Replies: 37
Views: 1480

Re: Taxation of fellowship

Ah, true, but you need to be 21 or older to earn DI credits. I do not think this is true. If you go here and look at CFR 404.140-404.146, it doesn't say anything about needing to be 21 in order to earn quarters of coverage. Age 21 is relevant though in terms of counting how many quarters you need i...
by ObliviousInvestor
Thu Feb 04, 2016 2:17 pm
Forum: Investing - Help with Personal Investments
Topic: Married Couples with Differing Investment Views
Replies: 2
Views: 505

Married Couples with Differing Investment Views

Hello, Bogleheads. I spoke with a journalist today who is working on a story about couples with different investment philosophies/styles -- the conflict it can cause, how to deal with the situation, and so on. She's interested in speaking with investors who have had such an experience. If any of you...
by ObliviousInvestor
Thu Feb 04, 2016 2:10 pm
Forum: Investing - Theory, News & General
Topic: Delaying SS Benefits?
Replies: 25
Views: 1560

Re: Delaying SS Benefits?

Assuming retirement at age 62, good health, a normal life expectancy, a pension and sufficient retirement financial assets to meet expenses and delay SS until 70, in what situations might one want to begin SS as early as possible? A few possibilities: 1) Real interest rates are very high. 2) You ar...
by ObliviousInvestor
Thu Feb 04, 2016 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Tax rate on IRA withdrawal when on Social Security
Replies: 25
Views: 1483

Re: Tax rate on IRA withdrawal when on Social Security

Many financial advisors are exclusively focused on investments rather than broader financial planning, so it's pretty common to encounter advisors who aren't especially tax-savvy. (And that would be doubly true for advisors who are basically just annuity salespeople.) The Bogleheads community, at le...
by ObliviousInvestor
Thu Feb 04, 2016 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Tax rate on IRA withdrawal when on Social Security
Replies: 25
Views: 1483

Re: Tax rate on IRA withdrawal when on Social Security

Yes, because of the way Social Security benefits are taxed, the marginal tax rate on other types of income while collecting Social Security is often much higher than one's tax bracket (e.g., 22.5% or 27.75% marginal tax rate in the 15% tax bracket). It's the result of each dollar of ordinary income ...
by ObliviousInvestor
Wed Feb 03, 2016 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation of fellowship
Replies: 37
Views: 1480

Re: Taxation of fellowship

Except as provided in paragraph (2), subsections (a) and (d) shall not apply to that portion of any amount received which represents payment for teaching, research, or other services by the student required as a condition for receiving the qualified scholarship or qualified tuition reduction. I thi...
by ObliviousInvestor
Wed Feb 03, 2016 10:17 am
Forum: Personal Finance (Not Investing)
Topic: File Early or Wait till 66
Replies: 7
Views: 1199

Re: File Early or Wait till 66

I believe there is one aspect of this strategy that was impacted by the recent legislation (or maybe it was always this way?) - if a SS recipient suspends their benefit other individuals receiving a benefit on that worker's record (e.g., a spouse) will also not receive a benefit. Yes, this is part ...
by ObliviousInvestor
Mon Feb 01, 2016 11:31 am
Forum: Personal Finance (Not Investing)
Topic: Is divorced spouse entitled to spouses Social securtity?
Replies: 21
Views: 2096

Re: Is divorced spouse entitled to spouses Social securtity?

I promise this will be the last question on this. We looked through the linked doc for SSA and couldn't quite figure out which section applies here. Could you let us know which section# and or letter you think applies. With regard to backdating a claim for benefits? Or are we talking about somethin...
by ObliviousInvestor
Mon Feb 01, 2016 11:03 am
Forum: Personal Finance (Not Investing)
Topic: Is divorced spouse entitled to spouses Social securtity?
Replies: 21
Views: 2096

Re: Is divorced spouse entitled to spouses Social securtity?

Ok then I had read that then after two years of divorce she is eligible for a different benefit. Or is that not true since she is taking this spousal benny? The two-year rule is simply a way to qualify for spousal benefits on the work record of an ex-spouse in cases in which that ex-spouse has not ...
by ObliviousInvestor
Mon Feb 01, 2016 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Is divorced spouse entitled to spouses Social securtity?
Replies: 21
Views: 2096

Re: Is divorced spouse entitled to spouses Social securtity?

So Wednesday she will go into the SS office and request: 1. Spousal benefit based on his record (he is taking it currently). 2. Request a 6 month backdate of that benefit. Anything else? Not that I can think of. Edit: Actually, just to prevent a situation in which the SSA rep is unfamiliar with bac...
by ObliviousInvestor
Mon Feb 01, 2016 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Is divorced spouse entitled to spouses Social securtity?
Replies: 21
Views: 2096

Re: Is divorced spouse entitled to spouses Social securtity?

OutinThirteen is correct. If she is currently eligible for a spousal benefit, that benefit does not keep growing as a result of her waiting to collect it. So every month that she waits is simply missed money. So she should file ASAP and collect as many months as possible, including the maximum backd...
by ObliviousInvestor
Sun Jan 31, 2016 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: File Early or Wait till 66
Replies: 7
Views: 1199

Re: File Early or Wait till 66

Your friend is incorrect. If you file at 62, then suspend at your full retirement age of 66, then unsuspend at age 70, the total amount you receive per month would be 99% of your primary insurance amount (i.e., 99% of the amount you would have received if you had initially filed at FRA of 66). Expla...
by ObliviousInvestor
Sat Jan 30, 2016 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: Plan for Dad.....
Replies: 10
Views: 1321

Re: Plan for Dad.....

Regarding Social Security planning, we need to know both spouses' respective "primary insurance amounts" (i.e., the amount that each would receive per month, if they filed at full retirement age for retirement benefits) in order to give useful advice. Also, your use of the words "Dad&...
by ObliviousInvestor
Fri Jan 29, 2016 6:41 pm
Forum: Personal Finance (Not Investing)
Topic: Switching Social Security benefits
Replies: 3
Views: 362

Re: Switching Social Security benefits

I don't know why Social Security didn't consider spousal benefits: "In most situations, a valid application for one class of benefits (e.g., SSA-1 for Retirement Benefits) is deemed an application for another class of benefits (e.g., Spouse Benefits). . . GN 00204.022 requires interviewers to ...
by ObliviousInvestor
Fri Jan 29, 2016 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Is divorced spouse entitled to spouses Social securtity?
Replies: 21
Views: 2096

Re: Is divorced spouse entitled to spouses Social securtity?

She will be entitled to the greater of: 1) The benefit she is already getting 2) A benefit calculated based on his earnings - it will be less than half of his FRA benefit because she filed early. 3) $733 / month #2 and #3 are only applicable if she doesn't remarry. Ex-spousal benefits can continue ...
by ObliviousInvestor
Fri Jan 29, 2016 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: Is divorced spouse entitled to spouses Social securtity?
Replies: 21
Views: 2096

Re: Is divorced spouse entitled to spouses Social securtity?

Deemed filing likely didn't apply when she originally filed. (It would only apply if the husband was already collecting benefits at that time.) If he is entitled to his retirement benefit now (i.e., he is collecting it or has filed and suspended), she could file for a spousal benefit now (i.e., befo...
by ObliviousInvestor
Thu Jan 28, 2016 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security 1099 off by a month
Replies: 18
Views: 1216

Re: Social Security 1099 off by a month

sscritic emailed me to mention this thread and raise another possibility: Were all of the payments the same size? Or was the first payment (received in April) a double payment for two months of entitlement? In that case it's 9 months of payments, yet a total amount received equal to 10-times the nor...
by ObliviousInvestor
Fri Jan 22, 2016 10:05 am
Forum: Personal Finance (Not Investing)
Topic: Changes to Social Security
Replies: 449
Views: 34403

Re: Changes to Social Security

If I understand correctly, the file and suspend changes prevent anyone from collecting while an account is suspended. Does this ruling include divorced spouses since restricted applications by ex spouses didn't require file and suspend? You are correct that in order for a person to receive benefits...
by ObliviousInvestor
Thu Jan 21, 2016 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Changes to Social Security
Replies: 449
Views: 34403

Re: Changes to Social Security

Parent 1: Age 68 (June 1947); FRA $200 Parent 2: Age 64 (Nov 1951); FRA $2,200 Both my parents have not started collection SS. As Parent 2 will not be age 66 by May 2016 when the new bill is enacted, it seems like Parent 2 will not be able to file and suspend when reaching age 66 in Nov 2017. Is th...
by ObliviousInvestor
Wed Jan 20, 2016 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: Social security restricted spousal benefits - does my husband need to know?
Replies: 31
Views: 2188

Re: Social security restricted spousal benefits - does my husband need to know?

In the case if the OP's husband already filed for SS or filed and suspended then SS should have the marriage information. If he doesn't file that is a problem for you getting a restricted application approved. In order for your own spousal benefit to be not considered "deemed" all this ne...
by ObliviousInvestor
Wed Jan 20, 2016 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: Soc. Security File and Suspend Question
Replies: 5
Views: 297

Re: Soc. Security File and Suspend Question

4. Will there be a point before I reach age 70 when I will bump up against the maximum benefits cap and should go ahead and take the benefits prior to age 70 because I will be capped out? No. The maximum is just the result of the fact that there's a maximum earnings history a person can have, so th...
by ObliviousInvestor
Wed Jan 20, 2016 7:11 pm
Forum: Personal Finance (Not Investing)
Topic: Soc. Security File and Suspend Question
Replies: 5
Views: 297

Re: Soc. Security File and Suspend Question

1. As I understand it my potential benefits will continue to increase by 8% plus any inflation adjustments until I turn age 70, but what is the exact date when I should apply for benefits because my benefits will stop increasing? Is it the month before I turn 70, or some other month? You don't need...
by ObliviousInvestor
Wed Jan 20, 2016 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: Soc. Security File and Suspend Question
Replies: 5
Views: 297

Re: Soc. Security File and Suspend Question

1. As I understand it my potential benefits will continue to increase by 8% plus any inflation adjustments until I turn age 70, but what is the exact date when I should apply for benefits because my benefits will stop increasing? Is it the month before I turn 70, or some other month? You don't need...
by ObliviousInvestor
Wed Jan 20, 2016 5:40 pm
Forum: Personal Finance (Not Investing)
Topic: Social security benefit calculation help needed
Replies: 5
Views: 584

Re: Social security benefit calculation help needed

With a birth year of 1954, your full retirement age is 66. That means if you file ASAP at 62, you would receive: 1) A retirement benefit equal to 75% of your primary insurance amount (PIA), plus 2) A spousal benefit calculated as 70% x [50% of your husband's PIA, minus your PIA]. The above assumes t...
by ObliviousInvestor
Wed Jan 06, 2016 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: Spreadsheet to show how taxable SS benefits will affect you
Replies: 102
Views: 10825

Re: Spreadsheet to show how taxable SS benefits will affect you

As to the first suggestion, I have talked to my broker and he said that they are not allowed to talk to me about taxes and how to avoid paying them other than to recommend tax free bonds etc. and my tax accountant won’t make suggestion on investments. If I take the suggestions to either one, they w...
by ObliviousInvestor
Wed Jan 06, 2016 11:33 am
Forum: Personal Finance (Not Investing)
Topic: Spreadsheet to show how taxable SS benefits will affect you
Replies: 102
Views: 10825

Re: Spreadsheet to show how taxable SS benefits will affect you

The entire Wiki page was updated to comply with the new features. Upon a quick rereading of the page, I would make a few suggestions. I would suggest removing the following paragraph as the first and last sentences are not true. A tax professional would be allowed to create a chart like this, and t...
by ObliviousInvestor
Mon Dec 28, 2015 8:51 am
Forum: Personal Finance (Not Investing)
Topic: Changes to Social Security
Replies: 449
Views: 34403

Re: Changes to Social Security

Our original SS claiming plan included both of us delaying until we are 70 and my wife claiming spousal benefit at her FRA which would be 50% of what I would get at my FRA. Fortunately for us we are eligible to do so still within the limits in the recent changes (Bipartisan Budget Act Nov 2015.) to...
by ObliviousInvestor
Sun Dec 20, 2015 10:02 pm
Forum: Personal Finance (Not Investing)
Topic: FIRECalc - Take Social Security Benefits Early is Better?
Replies: 51
Views: 3786

Re: FIRECalc - Take Social Security Benefits Early is Better?

As with the purchase of an annuity, there is no way to know the rate of return earned by delaying Social Security until you know your date of death (or the date of death of your spouse, in some cases). But we can calculate expected rates of return. Of note, however, those expected rates of return va...
by ObliviousInvestor
Sun Dec 20, 2015 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: FIRECalc - Take Social Security Benefits Early is Better?
Replies: 51
Views: 3786

Re: FIRECalc - Take Social Security Benefits Early is Better?

On average you will get more money from investing than from SS (the return is not 8%. It is more like 2-3% depending on your lifespan assumption). You are also taking on more risk. Now with SS paying 120% or so of your spending, you might as well take it early. You don't need more money to reduce y...
by ObliviousInvestor
Sun Dec 20, 2015 11:46 am
Forum: Personal Finance (Not Investing)
Topic: FIRECalc - Take Social Security Benefits Early is Better?
Replies: 51
Views: 3786

Re: FIRECalc - Take Social Security Benefits Early is Better?

Thank you for the information about FIRECalc, Aptenodytes.
by ObliviousInvestor
Sun Dec 20, 2015 11:45 am
Forum: Personal Finance (Not Investing)
Topic: FIRECalc - Take Social Security Benefits Early is Better?
Replies: 51
Views: 3786

Re: FIRECalc - Take Social Security Benefits Early is Better?

My wife (64) and I (66) started taking it early (62) as do the majority of Americans. Love my decision. I can't say I know anyone who doesn't love their decision - without regard to when they actually started collecting SS. Most people do indeed seem to be happy. You see it here on the forum all th...
by ObliviousInvestor
Sun Dec 20, 2015 11:25 am
Forum: Personal Finance (Not Investing)
Topic: FIRECalc - Take Social Security Benefits Early is Better?
Replies: 51
Views: 3786

Re: FIRECalc - Take Social Security Benefits Early is Better?

On average you will get more money from investing than from SS (the return is not 8%. It is more like 2-3% depending on your lifespan assumption). You are also taking on more risk. Now with SS paying 120% or so of your spending, you might as well take it early. You don't need more money to reduce y...
by ObliviousInvestor
Sat Dec 19, 2015 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: FIRECalc - Take Social Security Benefits Early is Better?
Replies: 51
Views: 3786

Re: FIRECalc - Take Social Security Benefits Early is Better?

I do not have experience with FIRECalc, but I have been told that it ignores survivor benefits. (Can anybody confirm whether this is true or not?) If that is the case, then its information with regard to SS for married couples wouldn't be particularly helpful (aside from cases in which one spouse is...
by ObliviousInvestor
Wed Dec 16, 2015 3:18 pm
Forum: Personal Consumer Issues
Topic: Which would you buy?
Replies: 15
Views: 1729

Re: Which would you buy?

Watty wrote:Also consider any differences in safety features. The Sienna might not have ESC or a backup camera which Caravan probably has.

I thought ESC was required beginning with model year 2012.
by ObliviousInvestor
Mon Dec 14, 2015 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Should I continue to postpone Social Security?
Replies: 27
Views: 2406

Re: Should I continue to postpone Social Security?

Cody, I think there may be inaccurate or conflicting data presented in your original post. Or maybe I'm misinterpreting something, so here are my comments: I'm 67 in February, 2016 and had planned on continuing my postponement of SS. I recieve a "Restricted Application SS" based on my wif...
by ObliviousInvestor
Sun Dec 13, 2015 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: Should I continue to postpone Social Security?
Replies: 27
Views: 2406

Re: Should I continue to postpone Social Security?

The bottom line: So we would recieve $8000 more per year at age 70 at a cost to us go $100k. That is very roughly 20% or our entire portfolio. I figure it will take 12.5 years to "break even" - my age 82.5. [...] With just this information on the numbers does it look worth it to you? Yes....
by ObliviousInvestor
Mon Dec 07, 2015 11:09 pm
Forum: Personal Finance (Not Investing)
Topic: Changes to Social Security
Replies: 449
Views: 34403

Re: Changes to Social Security

Could you please tell us what the actual appointment will be like to file and suspend? What information do they need? What do they NOT need? Just bumping this. Unfortunately, as I am still quite a ways away from filing myself, I do not have personal experience with the process. Hopefully somebody e...
by ObliviousInvestor
Mon Dec 07, 2015 10:19 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Calculator for late starters
Replies: 29
Views: 3096

Re: Social Security Calculator for late starters

This quote from Kotlikoff is what I'm referring to with respect to your assuming no future increases or improvements at all being a bit extreme: Social Security’s online calculators, ... assumes the economy will experience zero growth in average wages and also zero inflation from now until the end ...
by ObliviousInvestor
Sun Dec 06, 2015 6:14 pm
Forum: Personal Consumer Issues
Topic: Social Security: "file and suspend" ?
Replies: 17
Views: 1964

Re: Social Security: "file and suspend" ?

I'm delaying my SS until 70 in order to maximize my survivor's benefits . I don't think I need to do a "file and suspend" in my situation. Can someone tell me the pro/con of not doing a "file and suspend" at FRA? It depends. Will you have reached your FRA by 4/29/16? Yes. Curren...
by ObliviousInvestor
Sun Dec 06, 2015 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: When to claim Social Security if you won't ever "need" it?
Replies: 50
Views: 4019

Re: When to claim Social Security if you won't ever "need" it?

This is where Taylor should say, if the experts disagree, it probably doesn't matter much. I'd say, if you are in the enviable position of having enough without SS, you can stop worrying and asking and just do what appeals to you. The fun part about Social Security, at least in my view, is that the...
by ObliviousInvestor
Sun Dec 06, 2015 3:04 pm
Forum: Personal Consumer Issues
Topic: Social Security: "file and suspend" ?
Replies: 17
Views: 1964

Re: Social Security: "file and suspend" ?

Yes. I have the higher PIA. I'm planning on maximizing my survivors benefits for my spouse. I will not want retroactive payments and I will not be filing against my spouse's ss. What I'm looking for, is there some little know SS rule that would require me to "file and suspend" in order to...
by ObliviousInvestor
Sun Dec 06, 2015 2:44 pm
Forum: Personal Consumer Issues
Topic: Social Security: "file and suspend" ?
Replies: 17
Views: 1964

Re: Social Security: "file and suspend" ?

I'm delaying my SS until 70 in order to maximize my survivor's benefits . I don't think I need to do a "file and suspend" in my situation. Can someone tell me the pro/con of not doing a "file and suspend" at FRA? It depends. Will you have reached your FRA by 4/29/16? Yes. Curren...
by ObliviousInvestor
Sun Dec 06, 2015 2:36 pm
Forum: Personal Consumer Issues
Topic: Social Security: "file and suspend" ?
Replies: 17
Views: 1964

Re: Social Security: "file and suspend" ?

betterdays wrote:I'm delaying my SS until 70 in order to maximize my survivor's benefits. I don't think I need to do a "file and suspend" in my situation. Can someone tell me the pro/con of not doing a "file and suspend" at FRA?

It depends. Will you have reached your FRA by 4/29/16?

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