6 (sneaky) ways to get more Social Security (The Basics)

Money Central .msn.com ^ | 6/02/10

[Libloather]

6 ways to get more Social Security
Marriages -- even former ones -- can have significant financial advantages. Here's a look at how having said 'I do' can win you more in retirement benefits.
By U.S. News & World Report

Couples who are currently married, or who have stayed together at least 10 years, tie together their working records -- and the resulting Social Security checks -- as long as they both shall live.

In the case of Social Security payments, the result is often better for the couple than it would have been for a single person. Spouses have Social Security claiming options that single people don't. Here are a few ways couples can boost their Social Security benefits:

1. Utilize spousal payments. Spouses are entitled to a Social Security payout of up to 50% of the higher earner's check (if that amount is higher than benefits based on his or her own working record). Retired couples in which one spouse didn't work or had low earnings have the most to gain from this provision.

[Libloather]

Training on how to milk the system. Wonderful.

Actual headline @ MSN.com - 6 Sneaky Ways to Get More Social Security

[EGPWS]

Training on how to milk the system. Wonderful.

[SatinDoll]

Sneaky you may believe - but it is still all legal.

As for myself, none of it will benefit me; I’m lifelong single, no dependents. By the time I reach 70-years old, SS probably won’t even exist any longer.

[Hot Tabasco]

I’m lifelong single, no dependents

I'm 59 and retired....would you marry me? I'll sell my house and all my belongings and we can start our life together somewhere in the Caribbean..........

[Lurking in Kansas]

Hmmm ... not sneaky, it's the law. People are just ignore of the Act.

The only thing 'sneaky' is the title.

[Wally_Kalbacken]

Everybody Get Some!

- official motto of the Obama Administration.

[Lurking in Kansas]

I’m lifelong single, no dependents...

Will you marry me?

[trisham]

Awwwwwwww. Free Republic is better than eHarmony.

[Shimmer1]

2 proposals. Don’t you feel luuuuuuved????

[Hot Tabasco]

Will you marry me?

Looks like you gotta wait in line dude..........

I made her my offer, what was yours???????? NADA!

[2aberro]

Awwwwwwww. Free Republic is better than eHarmony.

LOL!!! however,, she has not answered anyone yet... I think she means to be life long single,,,like me... Thank god for girlfriends with benefits ;-)

[Lurking in Kansas]

...and they don't even mention the BEST way.

-File at age 62, bank/invest all your benefits until age 70.
-Withdraw your retirement claim and repay the benefits you drew between age 62 and 70.
-Then refile for benefits at age 70 & your benefit will be significantly higher. Basically you were receiving a zero-interest loan from SSA for 8 years which you have invested.

[muddler]

Lets not forget that these are the people who paid into the system, many for their entire lives.
It was Washington DC that pissed it all away.

[Lurking in Kansas]

I made her my offer, what was yours????????

She doesn't HAVE to live with me ...

... see, that's better than LIVING with YOU.

[DeoVindiceSicSemperTyrannis]

ROFL! You all are so funny!

[SatinDoll]

That is so-o-o sweet of you! But sorry, Tabasco - I’m into mayonnaise.

[SatinDoll]

I have 9 cats - and 4 are pregnant.

Think again.

[sten]

having 23 different social security numbers can also be a big win.

especially when you want to collect unemployment or social security benefits

[Brad’s Gramma]

Lets not forget that these are the people who paid into the system, many for their entire lives.

And NOT necessarily WILLINGLY!!!

Back to the Love thread Boat. :)

[oh8eleven]

Withdraw your retirement claim and repay the benefits you drew between age 62 and 70.
Yes - it's called the "one time do over" and the good news is you get to keep all the interest you may have made while accumulating those SS checks.
The bad news is one day you've got $150K (say) in the bank, next day you have $0.