Search found 3131 matches

by ObliviousInvestor
Mon Nov 07, 2016 6:35 pm
Forum: Investing - Theory, News & General
Topic: "When Does it Make Sense to Buy a Home Rather than Rent?"
Replies: 27
Views: 2175

Re: "When Does it Make Sense to Buy a Home Rather than Rent?"

Thank you for sharing the article, Taylor.

And, yes, as various Bogleheads have noted, I used the word "home" with the intention of including various types of residences.
by ObliviousInvestor
Tue Oct 18, 2016 11:53 am
Forum: Personal Finance (Not Investing)
Topic: SS COLA for 2017 will be 0.3% [Cost of Living Adjustment]
Replies: 34
Views: 3087

Re: SS COLA for 2017 will be 0.4%

I thought the wage base increases were tied to the same inflation factors as the benefits. Not true. The wage base is tied to the national average wage index, whereas the inflation factors for benefits is tied to the Consumer Price Index, CPI-W. The former index tracks changes in wages, while the l...
by ObliviousInvestor
Tue Oct 18, 2016 11:14 am
Forum: Personal Finance (Not Investing)
Topic: SS COLA for 2017 will be 0.3% [Cost of Living Adjustment]
Replies: 34
Views: 3087

Re: SS COLA for 2017 will be 0.3%

The SSA reports the CPI-W figures as: July: 234.771 August: 234.904 September: 235.495 https://www.ssa.gov/oact/STATS/cpiw.html That does give me the average that they are reporting (235.057). It's also consistent with what I'm seeing here in Table 6. http://www.bls.gov/cpi/cpid1609.pdf Probably the...
by ObliviousInvestor
Thu Oct 13, 2016 11:29 am
Forum: Personal Finance (Not Investing)
Topic: Large IRA withdrawal and SS
Replies: 27
Views: 2621

Re: Large IRA withdrawal and SS

As celia said, that reduction is given back after her FRA of 66. I should look into the formula for these returned benefits. Effective as of FRA, her benefit would be recalculated to adjust for months in which she received no benefit or reduced benefits. For example, if a person claims 48 months pr...
by ObliviousInvestor
Wed Oct 12, 2016 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Large IRA withdrawal and SS
Replies: 27
Views: 2621

Re: Large IRA withdrawal and SS

AdamP wrote:I should ask: do 401k/tIRA contributions affect amount used to test against the $15,720 earned income limit?

No.
by ObliviousInvestor
Wed Oct 12, 2016 10:18 am
Forum: Personal Finance (Not Investing)
Topic: Large IRA withdrawal and SS
Replies: 27
Views: 2621

Re: Large IRA withdrawal and SS

pshonore is correct. 401(k) contributions -- as well as deductible traditional IRA contributions -- reduce the income figure that is used to calculate how much of your Social Security is taxable. https://www.ssa.gov/planners/taxes.html The relevant income figure is: 1) AGI (excluding SS benefits), p...
by ObliviousInvestor
Thu Oct 06, 2016 8:42 am
Forum: Personal Finance (Not Investing)
Topic: Combined family Maximum Social Security
Replies: 7
Views: 1566

Re: Combined family Maximum Social Security

sscritic also shares the following reference via email: https://secure.ssa.gov/apps10/poms.nsf/lnx/0300615772 If you look at example 1, you can see that Don's and Wilma's maximums can be combined for a combined family maximum, even though they're still married. (The example also discusses the fact t...
by ObliviousInvestor
Thu Oct 06, 2016 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Combined family Maximum Social Security
Replies: 7
Views: 1566

Re: Combined family Maximum Social Security

Thank you for the information. I made an appointment at the Social Security office and he told me the child(ren) would not receive more than they were currently receiving on their father's record but for a different reason. He said it was because the combined maximum didn't apply when the parents w...
by ObliviousInvestor
Wed Sep 28, 2016 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Reason NOT to wait past 66 to take Social Security
Replies: 48
Views: 5324

Re: Reason NOT to wait past 66 to take Social Security

Even for people whose goal is to maximize the expected amount left to heirs, delaying until 70 is still typically the best choice, given today's interest rates and life expectancies. 1. If the goal is simply to maximize the expected value of the legacy, then instead of using available assets to del...
by ObliviousInvestor
Wed Sep 28, 2016 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: Combined family Maximum Social Security
Replies: 7
Views: 1566

Re: Combined family Maximum Social Security

The Social Security representative did not mention anything about the Combined Family Maximum. I just stumbled upon this in further reading and now am trying to determine if this is relevant in my case. To start with, there are a few general rules to know: 1) When a parent is entitled to retirement...
by ObliviousInvestor
Wed Sep 28, 2016 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Reason NOT to wait past 66 to take Social Security
Replies: 48
Views: 5324

Re: Reason NOT to wait past 66 to take Social Security

There seems to be an implicit assumption in some of the posts in this thread that the typical advice to delay until 70 does not account for a bequest motive. That's not true. Most analyses of then when-to-claim question seek to maximize the NPV of lifetime benefits. That is, they seek to maximize th...
by ObliviousInvestor
Mon Sep 19, 2016 12:02 am
Forum: Personal Finance (Not Investing)
Topic: Parent in financial mess. General and SS timing advice
Replies: 72
Views: 8638

Re: Parent in financial mess. General and SS timing advice

even for the individual with no reason to think they are different from average, there is reason to prefer claiming at some ages over other ages. That is, the NPV differs meaningfully from one claiming age to another. How does that work? If I'm an average 60 year old man, not planning on working wh...
by ObliviousInvestor
Sat Sep 17, 2016 12:36 am
Forum: Personal Finance (Not Investing)
Topic: SS FRA start date with 1st of month birthday
Replies: 6
Views: 814

Re: SS FRA start date with 1st of month birthday

Social Security will use Oct 31, not Nov. 1, as her official date of birth. sscritic points out via email that this isn't exactly correct. They consider a person's actual birthday to be their birthday. They do consider that you "attain" an age on the day before your birthday -- which is o...
by ObliviousInvestor
Fri Sep 16, 2016 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: Parent in financial mess. General and SS timing advice
Replies: 72
Views: 8638

Re: Parent in financial mess. General and SS timing advice

Also, it's a complete myth that Social Security is actuarially neutral. Ummm...aren't you one that's promoted that idea? http://www.obliviousinvestor.com/social-securitys-actuarial-neutrality/ The whole point of the article is that, even if Social Security is actuarially neutral at the program-wide...
by ObliviousInvestor
Fri Sep 16, 2016 11:33 am
Forum: Personal Finance (Not Investing)
Topic: Parent in financial mess. General and SS timing advice
Replies: 72
Views: 8638

Re: Parent in financial mess. General and SS timing advice

Just checking on a relevant point: You said in the original post (May 2014) that she "just" turned 60. How "just" was it? Specifically, was she 62 as of 1/1/2016, or was she still 61? She was 61 on January 1st of this year. Darn. That rules out what would otherwise be a pretty a...
by ObliviousInvestor
Fri Sep 16, 2016 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Parent in financial mess. General and SS timing advice
Replies: 72
Views: 8638

Re: Parent in financial mess. General and SS timing advice

Also, it's a complete myth that Social Security is actuarially neutral. Ummm...aren't you one that's promoted that idea? http://www.obliviousinvestor.com/social-securitys-actuarial-neutrality/ The whole point of the article is that, even if Social Security is actuarially neutral at the program-wide...
by ObliviousInvestor
Thu Sep 15, 2016 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: Parent in financial mess. General and SS timing advice
Replies: 72
Views: 8638

Re: Parent in financial mess. General and SS timing advice

Just checking on a relevant point: You said in the original post (May 2014) that she "just" turned 60. How "just" was it? Specifically, was she 62 as of 1/1/2016, or was she still 61? Also, it's a complete myth that Social Security is actuarially neutral. With regard to the earni...
by ObliviousInvestor
Thu Sep 15, 2016 10:39 pm
Forum: Personal Finance (Not Investing)
Topic: SS FRA start date with 1st of month birthday
Replies: 6
Views: 814

Re: SS FRA start date with 1st of month birthday

Social Security will use Oct 31, not Nov. 1, as her official date of birth. sscritic points out via email that this isn't exactly correct. They consider a person's actual birthday to be their birthday. They do consider that you "attain" an age on the day before your birthday -- which is o...
by ObliviousInvestor
Wed Sep 14, 2016 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Question
Replies: 11
Views: 1473

Re: Social Security Question

And if I don't claim because I died after delaying beyond my own FRA? Her benefit at her FRA will be what mine would have been on the day I died? That's the way I'm starting to understand it so please correct me if I'm wrong. Assuming you make it past your FRA and assuming that her retirement benef...
by ObliviousInvestor
Wed Sep 14, 2016 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Question
Replies: 11
Views: 1473

Re: Social Security Question

3.) When she reaches Full Retirement age she can start receiving MY Full Retirement Benefit, no matter how long I delayed or not delayed in receiving them as long as she lives. That is our current plan, BTW. I'm 67 but plan on deferring to age 70 for the maximum amount with the understanding that m...
by ObliviousInvestor
Tue Sep 13, 2016 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Question
Replies: 11
Views: 1473

Re: Social Security Question

3.) When she reaches Full Retirement age she can start receiving MY Full Retirement Benefit, no matter how long I delayed or not delayed in receiving them as long as she lives. That is our current plan, BTW. I'm 67 but plan on deferring to age 70 for the maximum amount with the understanding that m...
by ObliviousInvestor
Tue Sep 13, 2016 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Question
Replies: 11
Views: 1473

Re: Social Security Question

As long as you wait until your FRA to file for widow(er) benefits, you would receive the amount that he was receiving. Having filed for your own retirement benefit early will not affect that. Edited to add: It's also worth noting here that FRA for widow(er) benefits isn't necessarily the same as for...
by ObliviousInvestor
Mon Sep 12, 2016 11:03 am
Forum: Personal Finance (Not Investing)
Topic: Social Security [i]: Max SS Earnings, Bend Points, How Many More Years? [USA]
Replies: 40
Views: 4600

Re: Social Security [i]: Max SS Earnings, Bend Points, How Many More Years? [USA]

Before he stopped posting in August 2014, I often benefited from sscritic 's encyclopedic knowledge of the Social Security system and usually enjoyed his ascerbic style -- except when it was directed at me!. But it is a little creepy to think of him lurking out there in the ether communicating only...
by ObliviousInvestor
Mon Sep 12, 2016 11:02 am
Forum: Personal Finance (Not Investing)
Topic: Social Security [i]: Max SS Earnings, Bend Points, How Many More Years? [USA]
Replies: 40
Views: 4600

Re: Social Security [i]: Max SS Earnings, Bend Points, How Many More Years? [USA]

Again, the following comes from sscritic: I see what #Cruncher missed: the two year offset between the nawi and the other series. He stopped at 2014 because it takes two years to get the data (not quite - all tax returns for a year are needed). The 2014 nawi determined the 2016 bend points. The rela...
by ObliviousInvestor
Sun Sep 11, 2016 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security [iii]: Spouses [USA]
Replies: 13
Views: 1252

Re: Social Security [iii]: Spouses [USA]

Thank you very much for your replies. Very helpful. Only one follow up question: 2. if so, How do HER SPOUSAL benefit and HER RETIREMENT benefit change if I die first? When you die, according to the SSA, she is no longer your wife. She is your widow. So her spousal benefit would go away (if she was...
by ObliviousInvestor
Sun Sep 11, 2016 8:48 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security [i]: Max SS Earnings, Bend Points, How Many More Years? [USA]
Replies: 40
Views: 4600

Re: Social Security, Max SS Earnings, Bend Points, How Many More Years? [USA]

I interpret these series as follows: ⋅ CPI-W has grown slightly less than CPI-U. ⋅ NAWI, used to index prior year earnings, has grown faster than the CPI. This has the effect of increasing benefits. ⋅ The bend points have grown more than NAWI. This has the effect of in...
by ObliviousInvestor
Sun Sep 11, 2016 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security [iii]: Spouses [USA]
Replies: 13
Views: 1252

Re: Social Security [iii]: Spouses [USA]

Replying as requested... First a little background : Husband (me): age 46 in 2016. Will retire in 2016 at age 56. Will claim SS income benefit at age 70 Wife : age 38 in 2016 (unsure when she will claim her own SS income benefit) Questions: 1. will my spouse get both her own SS retirement benefit (f...
by ObliviousInvestor
Fri Sep 09, 2016 8:04 am
Forum: Personal Finance (Not Investing)
Topic: Social Security [i]: Max SS Earnings, Bend Points, How Many More Years? [USA]
Replies: 40
Views: 4600

Re: Social Security, Max SS Earnings, Bend Points, How Many More Years? [USA]

sscritic notes that because earnings after age 60 are not indexed downward to age-60 dollars (as they would have to be in order to match the treatment of earnings that occurred prior to age 60), a year of maximum earnings after age 60 counts for more than a year of maximum earnings prior to age 60 (...
by ObliviousInvestor
Tue Sep 06, 2016 11:09 am
Forum: Investing - Theory, News & General
Topic: Bridge to Social Security
Replies: 33
Views: 2498

Re: Bridge to Social Security

I have read that the SS administration set the level of benefits at each age so that it is somehow fair, meaning, the breakeven point is about at the average life expectancy. So for the average person, it doesn't matter when you take it. If you expect to live longer than average, you get more by wa...
by ObliviousInvestor
Fri Sep 02, 2016 9:19 pm
Forum: Investing - Theory, News & General
Topic: Social Security Consulting?
Replies: 26
Views: 2445

Re: Social Security Consulting?

I'm happy to hear that you found the book helpful. (And thanks, BL, for recommending it.) A few thoughts, in no particular order: 1) Tax planning is usually a reason to delay rather than a reason to claim early. That is, given the tax-advantaged nature of Social Security benefits, it's usually benef...
by ObliviousInvestor
Fri Sep 02, 2016 6:12 pm
Forum: Investing - Theory, News & General
Topic: Calculating Future SS Benefits
Replies: 20
Views: 1202

Re: Calculating Future SS Benefits

... The Retirement Estimator ( here ) also assumes that you will work until the age at which you claim benefits. After getting your initial estimates, however, you can click "add a new estimate" and enter a retirement date prior to age 62. It will then give you your estimate if you, for e...
by ObliviousInvestor
Fri Sep 02, 2016 5:40 pm
Forum: Investing - Theory, News & General
Topic: Calculating Future SS Benefits
Replies: 20
Views: 1202

Re: Calculating Future SS Benefits

Harpoon1 wrote:PS: Have most of your books, you have a real knack for explaining things concisely! :D

Thank you. :)
by ObliviousInvestor
Fri Sep 02, 2016 5:32 pm
Forum: Investing - Theory, News & General
Topic: Calculating Future SS Benefits
Replies: 20
Views: 1202

Re: Calculating Future SS Benefits

Ok, I retired last year at 55. Will postpone SS until at least 67, and more probably 70. I've been to the SS website and created an account and recieved their estimates. However, those estimates are based on me working up to those respective ages, along with filling in those later years with the in...
by ObliviousInvestor
Fri Sep 02, 2016 12:11 am
Forum: Investing - Theory, News & General
Topic: Social Security Consulting?
Replies: 26
Views: 2445

Re: Social Security Consulting?

Neither IRA distributions nor dividends count as earnings for the sake of the earnings test. Thanks ObliviousInvestor; I didn't know that. I need to update my spreadsheet, and eliminate the tax associated with SS. Just to be sure we're not having a miscommunication here: IRA distributions and divid...
by ObliviousInvestor
Thu Sep 01, 2016 11:07 pm
Forum: Investing - Theory, News & General
Topic: Social Security Consulting?
Replies: 26
Views: 2445

Re: Social Security Consulting?

Oblivious: Perhaps it the glass of wine, but the definitions are obtuse to me. Yes, I am talking about the earnings test. Are you saying that distributions from IRAs do not count as earned income? Is that true for dividends as well (from a taxable account)? Neither IRA distributions nor dividends c...
by ObliviousInvestor
Thu Sep 01, 2016 10:39 pm
Forum: Investing - Theory, News & General
Topic: Social Security Consulting?
Replies: 26
Views: 2445

Re: Social Security Consulting?

My situation is that I don't need the SS money at all and, if I took it, there would be earned income considerations. So, my thinking is that I'd like to take it now, even at a diminished level, but the earned income might drive the benefits to zero. The bulk of my earned income comes from my IRAs ...
by ObliviousInvestor
Tue Aug 30, 2016 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Understanding SS Spousal Benefit
Replies: 8
Views: 858

Re: Understanding SS Spousal Benefit

But, since her husband is a year older, if the husband's plans should change and he decides to file early, wouldn't a subsequent application from the wife be automatically considered as "deeming", unless she specifically requests otherwise? Because she was younger than 62 as of 1/1/2016, ...
by ObliviousInvestor
Tue Aug 30, 2016 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Understanding SS Spousal Benefit
Replies: 8
Views: 858

Re: Understanding SS Spousal Benefit

That is correct. But it should be noted to when she files it must be a "restricted application" and she is filing for her own benefit only. Otherwise, the SSA can assume it is to be handled under their "deeming" principle, i.e., she is "deemed" to be applying for both ...
by ObliviousInvestor
Mon Aug 29, 2016 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security - Spousal Benefits - Basics
Replies: 30
Views: 2600

Re: Social Security - Spousal Benefits - Basics

5. If I keep working after she starts taking her spousal benefits, will her spousal benefits be changed as my earnings record changes, or will they be fixed based on my record at the time she starts taking benefits? Not sure of the answer to this one. Anyone? (Of course, since she can't get here be...
by ObliviousInvestor
Fri Aug 26, 2016 8:16 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Abbreviations
Replies: 9
Views: 780

Re: Social Security Abbreviations

dodecahedron wrote:Mike, thanks for the link to the SSA Glossary of Acronyms. It would make a good addition to the Boglehead wiki.

sscritic points out that it is actually in the wiki already. Linked to from this page under "Acronyms Related to Computations."
https://www.bogleheads.org/wiki/Social_Security
by ObliviousInvestor
Fri Aug 26, 2016 7:41 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Abbreviations
Replies: 9
Views: 780

Re: Social Security Abbreviations

Does anyone here know the meaning of the remaining abbreviations / acronyms? RIB WIB FRA DNH MBA MOE Retirement Insurance Benefit Widow's (or widower's) Insurance Benefit Full Retirement Age Deceased Number Holder Monthly Benefit Amount Month of Entitlement (also sometimes MOET) https://secure.ssa....
by ObliviousInvestor
Sun Aug 21, 2016 4:08 pm
Forum: Investing - Help with Personal Investments
Topic: SS question on spousal benefit
Replies: 5
Views: 926

Re: SS question on spousal benefit

Her benefit as your spouse is calculated based on your PIA rather than based on your actual monthly benefit. That is, the age at which you claim your retirement benefit doesn't affect the amount of her spousal benefit. (It would, however, affect her benefit as your widow, should that become applicab...
by ObliviousInvestor
Thu Aug 18, 2016 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: Spousal Step Up Social Security Question
Replies: 46
Views: 3024

Re: Spousal Step Up Social Security Question

My mom has only collected benefits since April 2016. Would you think there is a benefit for her to pay back her benefits received and delay until 66? It would be a difference of 975 now vs 1300 at 66. If she did that, your dad wouldn't be able to start receiving a benefit as her spouse until she st...
by ObliviousInvestor
Thu Aug 18, 2016 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: Spousal Step Up Social Security Question
Replies: 46
Views: 3024

Re: Spousal Step Up Social Security Question

Okay and my last mathematics question, because my mom is definitely going to ask, "but if your father waits until 70, what about the loss of money from 66 to 70?" So is this mathematics correct: If he were to collect at 66, they would earn $975 + $2300 = $3275. If they did this for four y...
by ObliviousInvestor
Thu Aug 18, 2016 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: Spousal Step Up Social Security Question
Replies: 46
Views: 3024

Re: Spousal Step Up Social Security Question

Got it - so starting January 2017, they can collect 975 + 650 = $1625. Starting in January 2021, when my father turns 70, they can collect 975 + 3036 = $4,011. Thereafter, if my father goes before my mother, she then collects the $3036. What happens if my father passes before he gets to 70 and he h...
by ObliviousInvestor
Thu Aug 18, 2016 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: Spousal Step Up Social Security Question
Replies: 46
Views: 3024

Re: Spousal Step Up Social Security Question

Since my mother is currently collecting at age 63 ($975 monthly) and my dad is turning 66 in January, can you just clarify if the following is correct: In January, my father can collection around $650 which is 50% of my mother's $1300 SS benefit had she started at 66. So they would collect $650 + $...
by ObliviousInvestor
Wed Aug 17, 2016 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: Is this an automatic change in Social Security?
Replies: 3
Views: 607

Re: Is this an automatic change in Social Security?

Her monthly benefit will not change when you unsuspend. She will continue to receive the same retirement benefit + spousal benefit combination that she has been receiving.
by ObliviousInvestor
Wed Aug 17, 2016 10:53 am
Forum: Personal Finance (Not Investing)
Topic: Is this an automatic change in Social Security?
Replies: 3
Views: 607

Re: Is this an automatic change in Social Security?

Why would her benefit change when you reach 70? sscritic notes via email that more information would be helpful here: "Is she not still your wife? What was she entitled to before? Her own benefit plus an additional amount as your wife? Only as your wife? (she filed a restricted application for ...
by ObliviousInvestor
Tue Aug 09, 2016 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Social Security for non-resident?
Replies: 4
Views: 330

Re: Social Security for non-resident?

Nonresident aliens can receive benefits in some cases.

I would encourage you to read the following SSA publication:
https://www.ssa.gov/pubs/EN-05-10137.pdf

Or if you're feeling ambitious, here's the relevant CFR section:
https://www.ssa.gov/OP_Home/cfr20/404/404-0460.htm
by ObliviousInvestor
Wed Jul 27, 2016 11:43 am
Forum: Personal Finance (Not Investing)
Topic: Spreadsheet to show how taxable SS benefits will affect you
Replies: 108
Views: 14590

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

Please forgive me. I have the highest respect for PapaGeek's work on this absolutely critical subject. He has been so incredibly generous with his time and goodwill. But I have a confession. The ins and outs of the use the spreadsheet is beyond me. I wish I were more experienced with spreadsheets, ...

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