Re: O/T social security

Posted by Tom in TN on April 19, 2007 at 11:30:08 from (74.165.150.41):

In Reply to: O/T social security posted by 37 chief on April 19, 2007 at 10:30:47:

Stan,

James in OK has a very important point. If you have had any
income so far in 2007, and/or if you expect to have any more
income in 2007 that is not your Social Security payment, you
really need to look at the impact it will have on how much you
will actually be able to draw.

SS has a really stinky way of recouping that income that you
have already made and/or expect to make. They take all of the
money that they think you will lose as a result of your extra
income FIRST. Then they pay subsequent checks AFTER they've
recouped ALL of what they think is going to be theirs.

I'm soon to be 63 but I work a part-time job and it isn't worth it
to me to start collecting now. If I die before full eligibility, I'll
think that I made a bad decision, but if I live long enough to
make it to full retirement, it will be a much better deal for me.

Good luck,

Tom in TN

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