3 Unusual Strategies for Claiming Social Security Benefits

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Strategy for dependent benefits?

With a child adopted from foster care 5 yrs ago who'll turn 15 three months after I turn 62, I'm trying to find out the best strategy for when to file for social security. My child will be eligible for 1/2 my benefit until age 18 (19 if still in high school?), so would get at least 3 yrs + 3 months of my modest, $900/month benefit if I file at age 62, but none or only a few months' benefits if I wait till age 66? Those benefits (quite timely with college tuition looming) could substantially make up for the loss of 25% for filing early. Or can I file-and-suspend, qualifying my child for 50% of my age 62 benefit, then claiming my own full benefit 4 yrs later? There're no answers to this question on SS's website and it seems like answers vary, depending on who you talk to, if you finally reach an employee by phone. CAN ANYONE ADVISE?

My husband works for a municipality within our state pension system, so his social security benefit will be subject to the "windfall" provision, thus the relatively small SS he would qualify for based on his 12 yrs of pre-public employment will be reduced by (at least?) 40% whether he takes it at age 63 1/2 when he retires or waits till later. In either case, my small benefit should still be higher than his and I'll reach age 62 two yrs before he leaves his job. So I'm assuming our child's SS benefit would be higher, and payable longer, if claimed as a dependent under my own eligibility. And I assume that either parent can do so?

Also, wondering if and how a spousal benefit could or should be claimed by either myself or my husband, and if so, when?

The windfall provision applying to municipal workers, as well as the dependent child benefit both complicate the issue for us enormously, so would appreciate any informed recommendations or advice on who we could consult about this. Thanks!

Linda of OH @ Oct 13, 2009 12:40:26 PM

suspension of social security benefits

what is the SSI form # to suspend payments?

William Mouton of LA @ Aug 25, 2009 20:20:41 PM

Social Security

Since the government provided all the bailouts with tax payer money isn't it time for the government to repay all the money it has borrowed from social security since 1983. The bailouts have only provided executives to receive large bonuses not the citizens who have lost their jobs and homes.

cynthia nelson of SD @ Aug 25, 2009 11:15:06 AM

social security

If we didn't give benefits to those that don't deserve it that to would slow the lose some. Such as drug addicts that by thier own decision to do drugs and not work. why do they deserve SS benefits? And how about illegal immagrints why do they deserve a check and all the freebies they get while they wait for legal status?

Ronald Earl Stevens of NY @ May 14, 2009 21:26:30 PM

'Jersey' Joe just doesn't get it

Poor Joe, the 'Jersey Gurl' thinks we need MORE PEOPLE in this already OVERPOPULATED WORLD. Social Insecurity is the BIGGEST PONZI SCHEME of all. It makes Bernie Madoff like like a piker, he only got $50,000,000,000. W,ake up America, we need a MIDDLE CLASS REVOLUTION the likes of which has never been seen before in the history of mankind!!!

Bo Snerdley of TN @ May 14, 2009 07:26:58 AM

this is a joke!!

Our government is so messed up I dont believe a word it says. I have been fighting for my social security disability for 2 years now and still cant get approved.I have been diagnose with disk desease in my neck ,back I have arthitis so bad in my feet,ankles,knees to where I cant walk have the time. All I get is DENIED . Now if I was a alchoholic or a illegal immagrant I would sure enough get it. Lets give all of our money that we paid into, to help supply alchohol for a drunk or a immagrant thats never paid a dime. (Hey hats off to our government) NOT!!!!!! .And by the way when they say you can call tha white house and comment dont bother cause it dont do ya any good. ITS A JOKE!!!

SHERI ALLEN of OH @ May 14, 2009 07:21:34 AM

Interest Free Loan

I'll be 62 in 2010 so I'm going for that INTEREST FREE LOAN!

I could kiss UNCLE Sam's a _ _ e.

Amerika is GREAT!

Obama in 2012!!!

Indict Bush, Cheney, Dumbsfeld, Wolfowitz, et al for

1. War crimes

2. Fiduciary Irresponsibility

3. GROSS MALFEASANCE

4. General Incompetence

5. MORAL OBTUSENESS

Bo Snerdley of TN @ May 14, 2009 07:16:23 AM

Social Security

Ray of CO mentions how we need more and more young people paying into Social Security. I think we are somewhere around three to four ppaying in for each one receiving. That number has been shrinking like crazy since SS's inception. Regardless of your view on abortion one thing we can say for sure it sure ain't helping SS. We have alread aborted more than half of the population of Great Britian or France since Roe v Wade. That's a lot of people who could be helping the system.

Joe of NJ of NJ @ May 14, 2009 07:06:57 AM

Worried

I am scared of the future at my age of 40. SSI

Tony of NC @ May 14, 2009 06:45:46 AM

Ponzi Scheme

You all thought that Bernie Madoff ran the biggest ponzi scheme ever. Nope...its the US government. Everybody pays in while they are young and working, the government doesn't really set the money aside for benefits..they just spend most of it and give some back to the original investors (Old retired people) Sort of like Bernie was doing. But what happens with every ponzi scheme? If there aren't more and more investors (younger workers)the whole thing collapses...and thats whats happening to the social security ponzi scheme of America. And they put poor old Bernie in jail for patterning his company after social security....It aint fair!!!

Ray of CO @ May 14, 2009 03:34:08 AM

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