Search found 3407 matches

by ObliviousInvestor
Mon Dec 17, 2018 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Claiming dilemma-Would love opinions
Replies: 29
Views: 2793

Re: Social Security Claiming dilemma-Would love opinions

Both of us have high PIA, both retired, haven't claimed yet. I had been thinking best for both of us to wait till 70 yo for longevity insurance, plus we can afford to fund living expenses from IRAs. Husband is 66, so past his full retirement age. I am 62, with FRA of 66yrs 4months. Open Social Secu...
by ObliviousInvestor
Sun Dec 16, 2018 10:02 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security question- help please
Replies: 2
Views: 448

Re: Social Security question- help please

"Under the new law deemed filing is extended to apply to those at full retirement age and beyond. In addition, deemed filing may occur in any month after becoming entitled to retirement benefits. For example, if you begin receiving your retirement benefit and only later become eligible for a spousa...
by ObliviousInvestor
Sun Dec 16, 2018 9:37 am
Forum: Personal Finance (Not Investing)
Topic: Social Security ... Can spouse get a bump?
Replies: 4
Views: 486

Re: Social Security ... Can spouse get a bump?

A person's primary insurance amount (PIA) is the amount they'd get per month as a retirement benefit if they filed exactly at full retirement age. When W files at 62, she would get an amount less than her PIA. When H files at 70, he would get an amount more than his PIA. When W then files for a spou...
by ObliviousInvestor
Sat Dec 15, 2018 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Claiming dilemma-Would love opinions
Replies: 29
Views: 2793

Re: Social Security Claiming dilemma-Would love opinions

One thing to be aware of: With any analysis that uses "PersonA will die at age X, PersonB will die at age Y" assumptions rather than mortality tables (whether MaximizeMySocialSecurity, a DIY analysis, or using that option via OpenSocialSecurity) it is crucial to test a range of assumptions, rather ...
by ObliviousInvestor
Fri Dec 14, 2018 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Joint Life Expectancy Calculator (first- & second-to-die)
Replies: 3
Views: 200

Re: Joint Life Expectancy Calculator (first- & second-to-die)

#Cruncher here on the forum has a neat spreadsheet that can calculate such (among other things).

You can find it here:
http://eyebonds.info/downloads/pages/Od ... Alive.html
by ObliviousInvestor
Fri Dec 14, 2018 7:17 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Claiming dilemma-Would love opinions
Replies: 29
Views: 2793

Re: Social Security Claiming dilemma-Would love opinions

With such an important decision, you might consider a second opinion like paying the $40 for maximize my social security. I love Mike Piper, but such an important decision needs to be looked at from many angles. https://maximizemysocialsecurity.com/ FWIW I agree with this suggestion. Aside from jus...
by ObliviousInvestor
Fri Dec 14, 2018 6:54 am
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 265
Views: 25060

Re: "Open Social Security" calculator: feature requests, bug reports, etc

You will be entitled to a full month of spousal benefit for the first month you reach FRA, even though your birthday is mid-month. Yes, this is the answer. The "must be the age in question for the entire month" rule is only applicable at age 62. It only has to do with being eligible for a retiremen...
by ObliviousInvestor
Fri Dec 14, 2018 6:48 am
Forum: Personal Finance (Not Investing)
Topic: Kudos to Mike (OpenSocialSecurity)
Replies: 10
Views: 1350

Re: Kudos to Mike (OpenSocialSecurity)

Ah, neat. Thanks for letting me know!
by ObliviousInvestor
Thu Dec 13, 2018 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Claiming dilemma-Would love opinions
Replies: 29
Views: 2793

Re: Social Security Claiming dilemma-Would love opinions

The very short explanation: when a restricted application is possible (i.e., somebody applying for spousal benefits only and then being able to receive that benefit while allowing their own retirement benefit to continue growing), the desirability of doing so is so strong that it often overwhelms ot...
by ObliviousInvestor
Thu Dec 13, 2018 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Kudos to Mike (OpenSocialSecurity)
Replies: 10
Views: 1350

Re: Kudos to Mike (OpenSocialSecurity)

Do you have any variants for children with disability? If our child is deemed disabled at our retirement age, once one of us files he could switch from SSI to SSDI...I think. All else equal, I would think it could accelerate when the first one retires, in order to draw higher benefit for child at a...
by ObliviousInvestor
Thu Dec 13, 2018 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: Kudos to Mike (OpenSocialSecurity)
Replies: 10
Views: 1350

Re: Kudos to Mike (OpenSocialSecurity)

Just noticed the opensocialsecurity calculator ( https://opensocialsecurity.com ) got a mention on page 10 of the December AARP Bulliten as a good online tool to help plan your retirement finances. Kudos, Mike! :beer Thanks, One Ping! I hadn't seen the mention in AARP yet (a little too young to be ...
by ObliviousInvestor
Wed Dec 12, 2018 9:21 pm
Forum: Personal Consumer Issues
Topic: Any states not required 150 credit hours to be licensed as a CPA?
Replies: 4
Views: 660

Re: Any states not required 150 credit hours to be licensed as a CPA?

I had exactly 146 credit hours when I finished school as well. I just looked at the local community college website to see what 4-hour courses they were offering that had no prereqs. My choices were french or chemistry. I went with french. Being community college, it wasn't particularly expensive. A...
by ObliviousInvestor
Tue Dec 11, 2018 10:34 pm
Forum: Investing - Help with Personal Investments
Topic: Exceeded the Social Security Income Limit
Replies: 9
Views: 1453

Re: Exceeded the Social Security Income Limit

I am not familiar with the applicable FERS rules, but if it uses the same "earnings" figure as the Social Security earnings test, then contributions to a tax-deferred retirement account would not have any effect.
by ObliviousInvestor
Mon Dec 10, 2018 8:15 pm
Forum: Personal Finance (Not Investing)
Topic: Spousal SS Benefit
Replies: 13
Views: 1229

Re: Spousal SS Benefit

And the best strategy depends on the expected lifespan of each of the spouses. It might sound like I'm splitting hairs here, but this isn't quite right. It depends on the first-to-die and second-to-die joint life expectancies of the couple.* The individual life expectancies of the two people (usual...
by ObliviousInvestor
Fri Dec 07, 2018 6:43 am
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 265
Views: 25060

Re: "Open Social Security" calculator: feature requests, bug reports, etc

But it is difficult to grasp that my spouse claiming 1 year earlier, and an amount that is $1000 less, would only result in a $500 reduction in the PV as compared to the best strategy. In addition to what ObliviousInvestor explained, there are also other factors at work here... The calculator assum...
by ObliviousInvestor
Thu Dec 06, 2018 10:42 pm
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 265
Views: 25060

Re: "Open Social Security" calculator: feature requests, bug reports, etc

it is difficult to grasp that my spouse claiming 1 year earlier, and an amount that is $1000 less, would only result in a $500 reduction in the PV as compared to the best strategy. Her claiming amount at 67 with the best strategy is only $12,800 per year so losing $1000 every year for claiming one ...
by ObliviousInvestor
Thu Dec 06, 2018 9:46 pm
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 265
Views: 25060

Re: "Open Social Security" calculator: feature requests, bug reports, etc

Mike, would you explain in simple terms, maybe give some examples, of the difference between solving for max PV vs solving for longevity risk? What are some examples where choosing the recommended strategy (ie largest PV) would not get you the best in terms of longevity? Much of this discussion is ...
by ObliviousInvestor
Tue Dec 04, 2018 5:21 pm
Forum: Investing - Help with Personal Investments
Topic: Spousal benefits for husband who's wife is on SSDI?
Replies: 5
Views: 385

Re: Spousal benefits for husband who's wife is on SSDI?

I guess you are referring to (d) in the link? (d) You are not entitled to an old-age or disability benefit based upon a primary insurance amount that is equal to or larger than the full wife's or husband's benefit. Since it says old-age or disability . I guess the exception to this, however, if whe...
by ObliviousInvestor
Tue Dec 04, 2018 4:50 pm
Forum: Investing - Help with Personal Investments
Topic: Spousal benefits for husband who's wife is on SSDI?
Replies: 5
Views: 385

Re: Spousal benefits for husband who's wife is on SSDI?

This is the scenario: 1. Wife is 59 and on SSDI (Social Security Disability) 2. Husband just turned 66 (FRA). Normally in this case the husband cannot collect spousal benefits (delay his own benefits until 70) unless the spouse has filed (earliest being 62). However if the wife is on disability is ...
by ObliviousInvestor
Thu Nov 29, 2018 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 265
Views: 25060

Re: "Open Social Security" calculator: feature requests, bug reports, etc

jmk wrote:
Thu Nov 29, 2018 12:37 pm
My suggestion is to add a short sentence that makes that clear, e.g. "Figures are in current dollars."
Noted. Thank you.

After the current big piece of functionality is finished, there's a laundry list of things I intend to improve as far as documentation/interface.
by ObliviousInvestor
Thu Nov 29, 2018 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security FRA start date with 1st of month birthday
Replies: 15
Views: 2750

Re: Social Security FRA start date with 1st of month birthday

On the very confusing subject of attainment of age, I am unsure how this issue affects Restricted Spousal benefits. My retirement benefits will begin in Jan 2019. My wife will reach age 66 (FRA) in mid March 2019 and wishes to apply for restricted spousal benefits with the intention of switching to...
by ObliviousInvestor
Thu Nov 29, 2018 6:37 am
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 265
Views: 25060

Re: "Open Social Security" calculator: feature requests, bug reports, etc

It might just be me, but is anyone else confused by the figures in the generated "Year-by-Year Benefit Amounts" table? After reading the background info carefully I'm thinking these figures represent future real dollars anchored the year you'd turn 62, or perhaps the year you start getting benefits...
by ObliviousInvestor
Sun Nov 25, 2018 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: Mike Piper's Social Security Made Simple, oblivious investor blog and open social security mentioned on cnbc today
Replies: 8
Views: 2110

Re: Mike Piper's Social Security Made Simple, oblivious investor blog and open social security mentioned on cnbc today

Thanks for posting this, arcticpineapplecorp! I haven't been spending much time on the forum lately (busy working on the last major piece of functionality for the calculator), so this was a neat surprise.
by ObliviousInvestor
Thu Nov 22, 2018 10:08 pm
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 265
Views: 25060

Re: "Open Social Security" calculator: feature requests, bug reports, etc

In other words, Spouse A's benefit as a spouse is only 50% of Spouse B's monthly benefit in a very specific situation: a) Spouse B files for retirement benefits exactly at full retirement age, b) Spouse A files for spousal benefits at or after full retirement age, and c) Spouse A has no retirement ...
by ObliviousInvestor
Thu Nov 22, 2018 11:57 am
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 265
Views: 25060

Re: "Open Social Security" calculator: feature requests, bug reports, etc

I'm wondering if the calculator is making a mistake, or if we are misunderstanding how it works. My dad thinks that my mom should get 50% of his benefit as a spousal benefit. So, playing with the calculator, if Mom files at 62, she gets ~$7k per year from her own record. If dad files at 70, he gets...
by ObliviousInvestor
Wed Nov 14, 2018 7:26 am
Forum: Personal Finance (Not Investing)
Topic: Social Security FRA start date with 1st of month birthday
Replies: 15
Views: 2750

Re: Social Security FRA start date with 1st of month birthday

Yes, unfortunately "Adam" was confused. Maybe he was thinking of the "second of month" rule which is only applicable to how early a person can file? In any event, the document that GuyInFL linked to will be useful if you have to spell things out for them. Alternatively, here's where it says the same...
by ObliviousInvestor
Tue Nov 13, 2018 9:53 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security FRA start date with 1st of month birthday
Replies: 15
Views: 2750

Re: Social Security FRA start date with 1st of month birthday

It would appear that a birthday on the 1st or 2nd qualifies one for SS for the month. https://secure.ssa.gov/poms.nsf/lnx/0300615015 Yes, a second-of-the-month DoB is relevant when the question is, "how early can I start my benefit?" (Because the answer to that question is, "in the first month for ...
by ObliviousInvestor
Tue Nov 13, 2018 9:21 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security FRA start date with 1st of month birthday
Replies: 15
Views: 2750

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

My husband turns 70 on Feb. 1, 2019 and will continue to work past that date. He wishes to receive the maximum SS benefit that he can. As I understand it: SS deems him to attain the age of 70 on January 31, 2019, and thus he is eligible for his age 70 benefit during January. When filling out his on...
by ObliviousInvestor
Fri Nov 09, 2018 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 265
Views: 25060

Re: "Open Social Security" calculator: feature requests, bug reports, etc

I'm not clear whether the WEP is fully taken into account in this calculator. When I plug in the numbers using the reduced PIA (worked out from the SS site) and the non-covered pension amounts, survivor benefits are the same as the reduced PIA. I thought WEP didn't apply to survivor benefits and th...
by ObliviousInvestor
Fri Nov 09, 2018 8:27 am
Forum: Personal Finance (Not Investing)
Topic: Is Bedrock SS Analyzer site not working anymore?
Replies: 7
Views: 3371

Re: Is Bedrock SS Analyzer site not working anymore?

I like the opensource calculator. But I think it has a mistake. Isn't this the rule for spouse benefits: if the spouse with the higher benefits dies, the surviving spouse benefits then reverts to the higher amount. You don't get both benefits, but you will get the higher of the two. If this is the ...
by ObliviousInvestor
Thu Nov 08, 2018 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 265
Views: 25060

Re: "Open Social Security" calculator: feature requests, bug reports, etc

Just posting to note that Big Dog shared the relevant inputs via PM for privacy's sake, and the issue has been resolved.
by ObliviousInvestor
Thu Nov 08, 2018 11:29 am
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 265
Views: 25060

Re: "Open Social Security" calculator: feature requests, bug reports, etc

any suggestions for Testing an Alternative Strategy? I put in an alternative Claim date for Spouse (from 62 to 63 to sensitivity test) and click the bottom Submit button and nothing happens. If I then go and click on the Submit button in the middle of the page (after Other Inputs-Discount Rate), th...
by ObliviousInvestor
Fri Oct 19, 2018 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Downloadable Social Security Benefit Estimator (repost)
Replies: 86
Views: 11430

Re: Downloadable Social Security Benefit Estimator (repost)

Can one not start SS at exactly age 62? You have to be age 62 throughout the entire month. And according to Social Security rules, you reach a given age on the day before your birthday. So if your DoB is on the 1st or 2nd of the month, you can file in the month of your 62nd birthday. Otherwise you ...
by ObliviousInvestor
Thu Oct 18, 2018 8:58 pm
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 265
Views: 25060

Re: "Open Social Security" calculator: feature requests, bug reports, etc

[Per request, I have deleted this reply to a post that was deleted.]
by ObliviousInvestor
Thu Oct 18, 2018 8:56 am
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 3899
Views: 1090135

Re: What Movie Have You Recently Watched?

Saw Free Solo last Friday. Loved it. And it was fun to experience it in a sold-out theater of (mostly) other climbers.

My parents went a few days later and really enjoyed it as well.
by ObliviousInvestor
Wed Oct 17, 2018 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Restricted Application
Replies: 3
Views: 367

Re: Social Security Restricted Application

She would be eligible for the so called "restricted application" strategy for spousal benefit if she was born on or before 1/1/54. Her benefit would be one half of your primary insurance amount (PIA), assuming that she files after reaching her own full retirement age (FRA). Your PIA is what your ow...
by ObliviousInvestor
Tue Oct 16, 2018 9:19 am
Forum: Personal Finance (Not Investing)
Topic: Spousal benefit filing
Replies: 1
Views: 299

Re: Spousal benefit filing

Yes, provided that she meets all the assorted requirements for the month for which she would be requesting benefits to begin (e.g., being at least age 62 for the entire month).
by ObliviousInvestor
Sat Oct 13, 2018 6:19 pm
Forum: Investing - Theory, News & General
Topic: Social Security COLA - how is it applied?
Replies: 13
Views: 1346

Re: Social Security COLA - how is it applied?

I have not been following this thread, but sscritic requested via email that I post the following: Here is an example of the mechanics and how round off works: old PIA 1987.1 Claim 11 months early. fraction is 845/900 or 169/180. Benefit is 1865.67, rounded down to the nearest dollar or 1865. 2.8% c...
by ObliviousInvestor
Fri Oct 12, 2018 11:09 pm
Forum: Personal Finance (Not Investing)
Topic: Calculating Spousal Benefit Amount
Replies: 19
Views: 1488

Re: Calculating Spousal Benefit Amount

A person's PIA increases for inflation each year, starting at age 62. So the husband's PIA from 2016 is no longer his PIA. The wife's spousal benefit will be based on his PIA (which, again, is not the same amount that it was in 2016). Hello, I suspended my SS benefit in June 2017 at my age 66 to ea...
by ObliviousInvestor
Fri Oct 12, 2018 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Calculating Spousal Benefit Amount
Replies: 19
Views: 1488

Re: Calculating Spousal Benefit Amount

This is the reason that SS optimization programs may actually suggest not waiting to age 70 for couples where one spouse is going to be receiving 1/2 of the other's SS, since the 1/2 benefit isn't increasing. In our case, they tend to recommend something in the age 68 range. We are kinda unique tho...
by ObliviousInvestor
Thu Oct 11, 2018 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Retroactive SS benefits
Replies: 3
Views: 455

Re: Retroactive SS benefits

Here are the applicable references: https://www.ssa.gov/OP_Home/cfr20/404/404-0313.htm (3) Credits earned prior to entitlement. If you are full retirement age or older and eligible for old-age benefits but do not apply for benefits, your delayed retirement credits for months from the month of attain...
by ObliviousInvestor
Thu Oct 11, 2018 11:04 am
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 265
Views: 25060

Re: "Open Social Security" calculator: feature requests, bug reports, etc

Thank you everybody for the feedback. One could make the case that reporting "the period in which a benefit is received" is more helpful for tax planning purposes, but that's a different question. Indeed it would be more helpful for tax planning. To be up-front though, that is not an option I am con...
by ObliviousInvestor
Thu Oct 11, 2018 8:35 am
Forum: Personal Finance (Not Investing)
Topic: SS 2019 COLA could be close to 3%
Replies: 55
Views: 6104

Re: SS 2019 COLA could be close to 3%

Official press release:
https://www.ssa.gov/news/press/releases/2018/#10-2018-1

2.8% COLA
New maximum taxable wages: $132,900
by ObliviousInvestor
Thu Oct 11, 2018 7:02 am
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 265
Views: 25060

Re: "Open Social Security" calculator: feature requests, bug reports, etc

I assume it will be obvious to the user that year included backdated payments? Well, the suggested strategy output will include the word "retroactive." But whether or not the meaning of the table will be obvious to the user is one of my concerns. My personal leaning is for there to be a 2017 row fo...
by ObliviousInvestor
Thu Oct 11, 2018 6:35 am
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 265
Views: 25060

Re: "Open Social Security" calculator: feature requests, bug reports, etc

I want to join the others in thanking you for your efforts on this calculator. As to the question, it's a little hard for me to picture the difference between the two displays, but I believe I would prefer to see 2017 in its own row based on the description you gave. Thank you for the comment, and ...
by ObliviousInvestor
Thu Oct 11, 2018 5:58 am
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 265
Views: 25060

Re: "Open Social Security" calculator: feature requests, bug reports, etc

Seeking some feedback here. I'm currently working on retroactive applications, because they are especially applicable in a child benefit scenario, which is the bigger project I'm currently working on. (For background information about retroactive/backdated applications, see below.) My question is ho...
by ObliviousInvestor
Wed Oct 10, 2018 12:05 pm
Forum: Investing - Help with Personal Investments
Topic: Fixed annuity with a guaranteed lifetime withdrawal benefit
Replies: 8
Views: 486

Re: Fixed annuity with a guaranteed lifetime withdrawal benefit

To understand how a GLWB works, it's important to first understand how a deferred variable annuity works in general. If you already understand that, then the idea of a GLWB rider is that you get a guaranteed source of lifetime income, without having to "annuitize" the annuity. The downside is that t...