• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 30 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 30th Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $21,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $21 Million dollars
  • Sign up to get the TUG Newsletter for free!

    60,000+ subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Trade in your Social Security Check

MULTIZ321

TUG Member
Joined
Jun 6, 2005
Messages
31,266
Reaction score
8,995
Points
1,048
Location
FT. LAUDERDALE, FL
Resorts Owned
BLUEWATER BY SPINNAKER HHI
ROYAL HOLIDAY CLUB RHC (POINTS)
Interesting article on Social Security in today's South Florida Sun Sentinel
by Humberto Cruz

Social Security Strategy is Legal But it Carries Risks

more on this from a Janet Novack article in the Forbes Retirement Guide
Trade in Your Social Security Check

Reapply for Social Security: Raise your Living Standard

Social Security's Form 521 - Request for Withdrawal of Application
http://www.socialsecurity.gov/online/ssa-521.pdf

I think this topic was discussed recently in a Tug thread but I couldn't locate it in a search.

Richard
 

Kal

TUG Member
Joined
Jun 6, 2005
Messages
4,406
Reaction score
511
Points
499
Location
Redmond, WA
There has been constant chatter from politicians to reduce Social Security benefits. In some cases it might be the difference between taking it as soon as possible before anything is changed, OR take a chance. The Social Security Trust Fund is substantially under funded and something has to occur. At least we can all trust politicians so not to worry, huh?
 

KCI

TUG Member
Joined
Jun 6, 2005
Messages
1,212
Reaction score
1
Points
248
Location
Venice, FL
I've been considering "Withdrawal of Application" for about a year. It's no wonder that SS is going broke. Withdrawal occures when you initially take SS early on and decide to withdraw your application later on, pay back all you have received (no interest added) and stop getting SS at 68/69/or 70. Then you reapply and start receiving SS again at a much higher amount as if you never received it before. There are two risks, 1) that you will die before getting back what you paid back and 2) having Congress change the law before you start getting the larger pay check. There are many pluses, 1) your spouse now increases her SS to half of your new amount, 2) if you die she gets your higher amount, 3) You get more money, 4) you can get back all Fed taxes paid on the earlier SS. People who have analysed this to death and say it's like getting a 40% bonus over any annuity from any insurance company. What's holding me back? I just want to get a little older. It's a crazy world we live in.
KCI's Wingman
 

easyrider

TUG Review Crew: Elite
TUG Member
Joined
Aug 21, 2005
Messages
15,057
Reaction score
8,004
Points
948
Location
Palm Springs of Washinton
Resorts Owned
Worldmark * * Villa Del Palmar UVCI * * Vacation Internationale*
What is the average Social Sucurity check ?
 
Top