Search found 3489 matches

by ObliviousInvestor
Tue Apr 23, 2019 6:23 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Strategy
Replies: 29
Views: 2283

Re: Social Security Benefits Strategy

When he does file though, she will be automatically deemed to have filed at that time for her spousal benefit. Are you saying that if she files for her own benefits and does not ever file for spousal benefits, she will automatically receive spousal benefits when her husband files for his own benefi...
by ObliviousInvestor
Mon Apr 22, 2019 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Strategy
Replies: 29
Views: 2283

Re: Social Security Benefits Strategy

I think the law has change so the lower earning spouse can no longer file early for theirs and then get spousal benefits later. I believe if she files at 62 for her own, then the spousal beneift is filed at the same time and she can only get the larger of the two. This is true if the lower earning ...
by ObliviousInvestor
Mon Apr 22, 2019 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Strategy
Replies: 29
Views: 2283

Re: Social Security Benefits Strategy

Maybe I am missing something. Both recommendations include this statement: "- Have my spouse file for her Spousal benefit to begin 1/2032 at age 67 and 0 months" After this date your spouse should be receiving a total of half of your benefit. As I understand it, that is no matter what she receives ...
by ObliviousInvestor
Mon Apr 22, 2019 11:26 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Strategy
Replies: 29
Views: 2283

Re: Social Security Benefits Strategy

Do any of these models consider your federal+state after-tax dollars? Usually they don't because it's much more complicated to do, but what's left that you can spend is all that really matters. I have yet to see a calculator that accounts for tax implications in any meaningful way (i.e., with a rea...
by ObliviousInvestor
Mon Apr 22, 2019 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Strategy
Replies: 29
Views: 2283

Re: Social Security Benefits Strategy

Open Social Security often recommends having the lower-earning spouse file earlier than what is recommended by other calculators. The primary reason for this difference is that Open Social Security does year-by-year "probability of being alive" calculations for each person based on the user's select...
by ObliviousInvestor
Mon Apr 08, 2019 6:50 am
Forum: Personal Finance (Not Investing)
Topic: Social security question on how benefits are determined
Replies: 32
Views: 2204

Re: Social security question on how benefits are determined

How will a 2000 retiree feel? His ss benefit is 30% less than that of a 2018 retiree. If both have a monthly expense of $10,000, then ss will meet 38% for a 2018 retiree, but only 26% for a 2000 retiree. Retire Initial In 2019 Inflation adjust. in Jan. 2000 1,752 2,633 50.29% 2001 1,879 2,727 45.13...
by ObliviousInvestor
Sun Mar 17, 2019 7:44 am
Forum: Investing - Theory, News & General
Topic: Please fact check Vanguard statement RE Social Security
Replies: 6
Views: 1105

Re: Please fact check Vanguard statement RE Social Security

spencer99, you are correct. The quoted part is definitely wrong. A spousal benefit (including as an ex-spouse) varies based on your own age at the time you file, not your spouse's/ex-spouse's age.
by ObliviousInvestor
Sun Mar 10, 2019 9:05 am
Forum: Investing - Theory, News & General
Topic: Guest Mike Piper on "Bogleheads on Investing" podcast talking Social Security
Replies: 17
Views: 3984

Re: Guest Mike Piper on "Bogleheads on Investing" podcast talking Social Security

I was reading BigERNs blog & it looks like he discounts SS based upon age. He stated that if you make it to 55 then most likely your benefits will not change but discounts benefits if you are younger. Has any one seen this in other places & what are your thought on this assumption. TIA. I'm not sur...
by ObliviousInvestor
Thu Mar 07, 2019 4:31 pm
Forum: Investing - Theory, News & General
Topic: Guest Mike Piper on "Bogleheads on Investing" podcast talking Social Security
Replies: 17
Views: 3984

Re: Guest Mike Piper on "Bogleheads on Investing" podcast talking Social Security

The closer and closer we get to 2034 where there'll be a 25% or so cut to SS payments, the more I'll be confused by professional recommendations to delay SS until 70 under any circumstances. Surely, the chance that issue will be address and completely resolved is not a full 100%. So how much does t...
by ObliviousInvestor
Thu Mar 07, 2019 8:47 am
Forum: Investing - Theory, News & General
Topic: Guest Mike Piper on "Bogleheads on Investing" podcast talking Social Security
Replies: 17
Views: 3984

Re: Guest Mike Piper on "Bogleheads on Investing" podcast talking Social Security

The idea of delaying social security, withdrawing the money you are foregoing each month and then adding on a 4% rule was certainly interesting. I didn’t catch the exact details of the referenced paper, from Stanford, but that would be of interest to many here. Here's the full paper: http://longevi...
by ObliviousInvestor
Sat Feb 23, 2019 10:19 am
Forum: Personal Finance (Not Investing)
Topic: When taking Social Security @62 could be wise
Replies: 191
Views: 13862

Re: When taking Social Security @62 could be wise

https://opensocialsecurity.com/ (advanced option chosen with a drop in benefits in 2034) is now telling me that both DW and I should take SS @ 62. A few months ago one of us was to take at 62 (same inputs), the other at 70. Something changed? Aside from child benefit-related functionality, there ha...
by ObliviousInvestor
Thu Feb 21, 2019 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: [Tax Question] Widow Repaid Social Security Benefits
Replies: 4
Views: 472

Re: [Tax Question] Widow Repaid Social Security Benefits

sscritic emailed to request that I direct you to IRS Pub 915, page 15 (specifically the section headed "Deduction more than $3,000"). https://www.irs.gov/pub/irs-pdf/p915.pdf He also noted the following: One problem: the OP didn’t give the amounts. However, he doesn’t need to file amended returns, b...
by ObliviousInvestor
Thu Feb 14, 2019 11:23 am
Forum: Personal Finance (Not Investing)
Topic: Social security survivor benefits
Replies: 16
Views: 959

Re: Social security survivor benefits

Thanks. That's very helpful. One more question for anyone who knows the answer: Can a surviving spouse who works (and thus would be subject to the earnings test) elect not to draw survivor benefits at all so that the children draw higher benefits (family maximum divided by number of children)? Deem...
by ObliviousInvestor
Thu Feb 14, 2019 8:42 am
Forum: Personal Finance (Not Investing)
Topic: Social security survivor benefits
Replies: 16
Views: 959

Re: Social security survivor benefits

I'm not sure how the earnings test and the family maximum work together. You should research whether, if your wife's benefits decrease due to the earnings test, your kids' benefits increase until the family maximum is hit. I don't know the answer and am curious myself. They do not. For anybody curi...
by ObliviousInvestor
Fri Feb 08, 2019 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: Apply for Social Security's restricted application
Replies: 12
Views: 754

Re: Apply for Social Security's restricted application

sscritic also points out that when the husband in the OP's scenario files for his retirement benefit, the wife will be deemed to have filed for her spousal benefit (because she's affected by the new deemed filing rules). So if he files for his retirement benefit prior to the point at which she has r...
by ObliviousInvestor
Fri Feb 08, 2019 4:49 pm
Forum: Personal Finance (Not Investing)
Topic: Apply for Social Security's restricted application
Replies: 12
Views: 754

Re: Apply for Social Security's restricted application

As far as how the money withheld via the earnings test is "paid back" per RM's question, it's simply an adjustment of her retirement benefit when she reaches her FRA. For example if a person files for retirement benefits 48 months early, but then the earnings test results in that benefit being with...
by ObliviousInvestor
Fri Feb 08, 2019 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: Apply for Social Security's restricted application
Replies: 12
Views: 754

Re: Apply for Social Security's restricted application

One question I've always had is if you collect SS, you are under full retirement age (FRA) & still working, how does SS know if you are making over the $17k limit to withhold $1 for every $2 over the $17k earnings limit? When you initially apply, you are asked to estimate your earnings (if you're u...
by ObliviousInvestor
Fri Feb 08, 2019 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: Apply for Social Security's restricted application
Replies: 12
Views: 754

Re: Apply for Social Security's restricted application

As far as how the money withheld via the earnings test is "paid back" per RM's question, it's simply an adjustment of her retirement benefit when she reaches her FRA. For example if a person files for retirement benefits 48 months early, but then the earnings test results in that benefit being withh...
by ObliviousInvestor
Fri Feb 08, 2019 7:45 am
Forum: Personal Consumer Issues
Topic: Visiting Hawaii- Big Island - 8 days
Replies: 24
Views: 1858

Re: Visiting Hawaii- Big Island - 8 days

Depending on how you do with elevation, the Mauna Kea summit hike is super neat. Tree line is really low in Hawaii for some reason, so most of the hike is above tree line, and eventually it feels like you're walking around on Mars or something -- red rock everywhere, no plants or animals. https://ww...
by ObliviousInvestor
Tue Feb 05, 2019 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Question
Replies: 18
Views: 1939

Re: Social Security Benefits Question

1) What if the lower earning spouse is still working? How will reduced benefits impact the final analysis? 2) What are the impacts for the lower earning spouse in the case of a subsequent divorce? Either of these would be "additional relevant factors that haven't been mentioned" and could change th...
by ObliviousInvestor
Tue Feb 05, 2019 7:07 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Question
Replies: 18
Views: 1939

Re: Social Security Benefits Question

I have one more question about this scenario that I described on the opening post. As you already know, the wife has not reached her FRA yet. The wife is currently only age 65 and 5 months. Would there be any good reasons for this couple to wait an additional 7 more months for the wife to be at FRA...
by ObliviousInvestor
Mon Feb 04, 2019 9:15 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Question
Replies: 18
Views: 1939

Re: Social Security Benefits Question

We did this last year when my wife turned 62 and I turned 66. No problems. Question: Why have you waited so long? Check out the possibility of Retroactive Benefits. You should be able to go back six months and get lump-sum payments. Retroactive benefits are not an option for the wife in this scenar...
by ObliviousInvestor
Mon Feb 04, 2019 7:13 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Question
Replies: 18
Views: 1939

Re: Social Security Benefits Question

Is there anything that can be done to improve this plan? Unless there are additional relevant factors that you haven't mentioned (e.g., a government pension for one of the spouses), the plan you have described here is almost certainly the ideal plan. Dear ObliviousInvestor, Regarding the plan/strat...
by ObliviousInvestor
Sat Feb 02, 2019 11:11 am
Forum: Personal Finance (Not Investing)
Topic: SS Survivor Benefits for dependent Step-Child
Replies: 2
Views: 187

Re: SS Survivor Benefits for dependent Step-Child

Here are the requirements for receiving child benefits: https://www.ssa.gov/OP_Home/cfr20/404/404-0350.htm Requirements #3-5 are straightforward (child isn't married, child applies for benefits, child is under 18 -- or meets one of a couple exceptions). With regard to whether she counts as a stepchi...
by ObliviousInvestor
Fri Feb 01, 2019 7:15 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Question
Replies: 18
Views: 1939

Re: Social Security Benefits Question

teelainen wrote:
Fri Feb 01, 2019 1:39 am
Is there anything that can be done to improve this plan?
Unless there are additional relevant factors that you haven't mentioned (e.g., a government pension for one of the spouses), the plan you have described here is almost certainly the ideal plan.
by ObliviousInvestor
Thu Jan 31, 2019 1:36 pm
Forum: Investing - Theory, News & General
Topic: Wife Social Security when to claim Question ?
Replies: 3
Views: 350

Re: Wife Social Security when to claim Question ?

There's no way to give a very good Social Security planning answer for a married person without knowing information about both spouses.

Generally speaking though, 3 months one way or the other is unlikely to have a large impact.
by ObliviousInvestor
Wed Jan 30, 2019 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 291
Views: 28553

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

Rolled out another update today. The calculator now has somewhat more fully developed functionality for people affected by the Windfall Elimination Provision. Specifically, it allows you to enter a date on which your pension from non-covered employment will begin (so that the calculator knows not to...
by ObliviousInvestor
Fri Jan 18, 2019 9:06 am
Forum: Personal Investments
Topic: Retire in 2 years. Advice for plan for withdrawals, Roth conversions & SS
Replies: 52
Views: 5063

Re: Retire in 2 years. Advice for plan for withdrawals, Roth conversions & SS

Let me walk you through the logic behind the opensocialsecurity recommendation: 1. When a person files for SS benefits is loosely financially “fair”: filing early gets one more, smaller payments, filing late gets one fewer, bigger payments. For an individual, it doesn’t make a huge difference unles...
by ObliviousInvestor
Thu Jan 17, 2019 6:46 am
Forum: Investing - Theory, News & General
Topic: John Bogle has died at age 89
Replies: 856
Views: 50406

Re: John Bogle has died at age 89

Perhaps somebody already posted this in the first several hundred posts, but just in case:

Some of you may enjoy looking through photos from past Bogleheads events. There are tons of photos of Jack -- including photos with many of you.
https://www.bogleheads.org/wiki/Boglehe ... onferences
by ObliviousInvestor
Wed Jan 16, 2019 5:25 pm
Forum: Investing - Theory, News & General
Topic: John Bogle has died at age 89
Replies: 856
Views: 50406

Re: John Bogle is dead at 89

What a sad, sad day.

Rest in peace, Mr Bogle.
by ObliviousInvestor
Tue Jan 15, 2019 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 291
Views: 28553

Re: SS/Open SS calc question

1) Since neither of us has worked more than 27/25 years respectively, if we assume stopping work in 2020, is the info inaccurate because it does not take into account all the $0 income years to meet the 35 year total? The calculator takes your PIA as an input, so it is incumbent upon the user to pr...
by ObliviousInvestor
Tue Jan 15, 2019 9:44 am
Forum: Investing - Theory, News & General
Topic: Book on withdrawal strategies / retirement income?
Replies: 24
Views: 2294

Re: Book on withdrawal strategies / retirement income?

I thought Pfau's book was excellent. You may also find this study (summary version below) to be of interest. http://longevity.stanford.edu/wp-content/uploads/2017/11/Optimizing-Retirement-Income-Solutions-November-2017-SCL-Version.pdf http://longevity.stanford.edu/wp-content/uploads/2017/12/How-to-p...
by ObliviousInvestor
Mon Jan 14, 2019 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 291
Views: 28553

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

Thank you for the additional details, MtnBiker. The issue was that the calculator was using the disability family max rules to calculate the family max on Mother's work record. In other words it was incorrectly using a $307 family max instead of the correct $460 family max, which led to a smaller co...
by ObliviousInvestor
Mon Jan 14, 2019 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 291
Views: 28553

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

Update: I just rolled out functionality for child benefits and child-in-care spousal benefits. That's about 9 months of nearly full-time work on this project (~30 hours spent on it per week since April), and the calculator now does all of the major things that I had hoped for it to do. So I think I...
by ObliviousInvestor
Thu Jan 10, 2019 10:35 am
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 291
Views: 28553

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

Forgot to mention: today's update also includes functionality for retroactive applications. (That is, the calculator will now recommend a retroactive application, when such is possible and would be useful.)
by ObliviousInvestor
Thu Jan 10, 2019 9:55 am
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 291
Views: 28553

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

Update: I just rolled out functionality for child benefits and child-in-care spousal benefits. That's about 9 months of nearly full-time work on this project (~30 hours spent on it per week since April), and the calculator now does all of the major things that I had hoped for it to do. So I think I'...
by ObliviousInvestor
Thu Jan 10, 2019 9:52 am
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 291
Views: 28553

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

Your Mortality table — Should be in the Your information section since it applies to me, not my spouse. Does this help? Yes, this does help. The way it is coded, "Your mortality table" is in the "your information" section. So this is a display bug of some sort. Could you share what browser and OS y...
by ObliviousInvestor
Sun Jan 06, 2019 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 291
Views: 28553

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

Your Mortality table — Should be in the Your information section since it applies to me, not my spouse. Does this help? Yes, this does help. The way it is coded, "Your mortality table" is in the "your information" section. So this is a display bug of some sort. Could you share what browser and OS y...
by ObliviousInvestor
Sat Jan 05, 2019 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 291
Views: 28553

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

Hi. I've run this a few times and in 11/2018 my spouse's best time to retire was at 66 yrs 9 months, on 12/6/18 it was 67 years, and today it's 67 yrs 1 month. Seems like as time goes on the 'best' date is getting pushed out. Does this reflect something about the mortality tables? More information ...
by ObliviousInvestor
Sat Jan 05, 2019 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 291
Views: 28553

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

Your Mortality table — Should be in the Your information section since it applies to me, not my spouse. Does this help? Yes, this does help. The way it is coded, "Your mortality table" is in the "your information" section. So this is a display bug of some sort. Could you share what browser and OS y...
by ObliviousInvestor
Sat Jan 05, 2019 7:49 am
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 291
Views: 28553

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

Only other suggestion is more from a Usability perspective when using the Advanced Settings for married couples. The selection and verbiage around the mortality table for the primary is not nearly as clear as fir the spouse. Minor nit, but would help. I'm not sure what you mean here. Would you mind...
by ObliviousInvestor
Fri Jan 04, 2019 10:46 pm
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 291
Views: 28553

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

Wondering if it’s possible to get a deeper exposure to the PV calculations. Is there a way of dumping some type of table for the scenarios involved? That's on the to-do list. Can't promise when though. In the meantime, I can describe what the calculator is doing in each PV calc for a married couple...
by ObliviousInvestor
Fri Jan 04, 2019 3:26 pm
Forum: Personal Investments
Topic: Soc Sec-restricted application; is this right
Replies: 5
Views: 484

Re: Soc Sec-restricted application; is this right

What is the formula for determining the extent of reduction once she is deemed to have filed From the $200 spousal benefit you subtract a reduction amount. That reduction amount is a fraction of the $200 spousal benefit. Specifically, the reduction is 25/36 of 1% for each month early, up to 36 mont...
by ObliviousInvestor
Fri Jan 04, 2019 2:59 pm
Forum: Personal Investments
Topic: Soc Sec-restricted application; is this right
Replies: 5
Views: 484

Re: Soc Sec-restricted application; is this right

When I turn 70 on 9/2019 and file on my own record, my wife will be 64 years, 9 months. Her FRA is 66. When I switch to my own benefit will she at that point, be deemed to have filed for her spousal increase, or could she wait until she is 66, file then and avoid the reduction in her $200 increase?...
by ObliviousInvestor
Thu Jan 03, 2019 9:57 pm
Forum: Personal Investments
Topic: Soc Sec-restricted application; is this right
Replies: 5
Views: 484

Re: Soc Sec-restricted application; is this right

Questions about Soc Sec restricted application. I was born in 1949; turn 70 Sept 2019. Thus, eligible for restricted application. My wife filed first under her own record when she turned 62; she’s got 75% of her PIA. Her PIA is approximately 1200. I thereafter filed for spousal; I got 50% of her PI...
by ObliviousInvestor
Sun Dec 30, 2018 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Open social secuity
Replies: 41
Views: 3019

Re: Open social secuity

My spouse SSA is extremely limited as they were WEP for their 10 years of working (understand that means they get a small pension to supplement a smaller SSA). Under the "advanced" options, Open Social Security allows you to input a government pension amount, if applicable -- which allows the calcu...
by ObliviousInvestor
Sun Dec 30, 2018 11:07 am
Forum: Personal Investments
Topic: Social Security question
Replies: 23
Views: 2514

Re: Social Security question

One other Q: I believe if my father took SS it would knock him out of eligibility of the expanded medicaid he currently gets. Do you guys know if this is correct? Another big reason not to take the benefit early. I'm definitely not an expert on Medicaid, so I would strongly urge you to check the fo...
by ObliviousInvestor
Fri Dec 28, 2018 8:42 pm
Forum: Investing - Theory, News & General
Topic: Social security deferral and COLA's
Replies: 17
Views: 1397

Re: Social security deferral and COLA's

Your PIA gets a COLA adjustment every year, beginning at age 62, regardless of whether or not you have filed. And you get a certain percentage of your PIA depending on your age when you begin benefits. For example if you begin 24 months after your FRA, you get 116% of your PIA (and that PIA has alr...
by ObliviousInvestor
Fri Dec 28, 2018 4:56 pm
Forum: Investing - Theory, News & General
Topic: Social security deferral and COLA's
Replies: 17
Views: 1397

Re: Social security deferral and COLA's

Your PIA gets a COLA adjustment every year, beginning at age 62, regardless of whether or not you have filed. And you get a certain percentage of your PIA depending on your age when you begin benefits. For example if you begin 24 months after your FRA, you get 116% of your PIA (and that PIA has alre...
by ObliviousInvestor
Thu Dec 27, 2018 9:09 pm
Forum: Personal Finance (Not Investing)
Topic: When to claim Social Security: two reasons not to wait
Replies: 108
Views: 16638

Re: When to claim Social Security: two reasons not to wait

delamer wrote:
Thu Dec 27, 2018 7:57 pm
Say my spouse has a benefit of $2000 per month, based on claiming at 65. My FRA is 66 (PIA of $1,000).

He dies at 68, when I am 65. I claim my survivor’s benefit immediately.

Then the $2000 would be reduced because I am under my FRA?
Yes.