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Subject:  Re: Social Security questions Date:  10/23/2012  3:42 PM
Author:  TwoCybers Number:  18008 of 20018

In terms getting the first SS check -- it depends on when you apply in the month. The shortest time is 6 or 7 weeks. The longest is over 2 months. I get my deposits on fourth Wednesday of every month. Clearly if I started the process so the earliest possible payment was on the 4th Thursday, I would have almost a month longer to wait than if all the ducks lined up just right. There are some processes at happen within the Social Security Administration. Another thing that gets into the equation is how you get paid. Trust me, have your check deposited in a bank account. I moved from the fee happy big brink and mortar bank to Ally Bank. They give me ATM rebates and I can use any ATM in the country. I may switch to Schwab bank, since Schwab is where my brokerage accounts are. Both Fidelity and Schwab have very nice banking options for folks with brokerage accounts. We do have a checking account in a community bank. That way we have a lock box and a place to get papers notarized as needed.

Regarding Wellington's bonds -- drill down into their non-equity holdings. Yes there is some risk, but much less than traditional US Treasury type bonds. I would not worry about Wellington being in this or that sector. Banks are going to make money. No matter what mutual fund you look at there will be something you think/"know" is a stupid investment or worse. But you might be wrong - I was wrong once back in the mid 9