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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75825  
Subject: Re: End of Social Security Loophole Date: 12/11/2010 11:56 PM
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Rayvt writes,

One did need the money available to pay back previously received benefits and also funds to support themselves while the suspension and re-applying was in process. IMO this is not necessarily one who is extremely well off.

Well, according to my neighbors who are getting SS, this *is* a good description of e"xtremely well off." And this is a solid middle class to upper-middle class area.

Figure it out. Age 62 to 66 = 48 months at approx $1200-$1500/mo = $65,000. To age 70 = 96 months = $134,000.

So, yes, anyone who can write a check for $65,000 to $134,000 is very well off. And very rare.

</snip>


Maybe not so rare?

About 5 million households in the US have $1 million or more in investable wealth (i.e., the funds you have beyond the equity in your home and the value of any employer-sponsored retirement plan) and 45% of those 5 million households is headed by a retiree.

http://www.retireearlyhomepage.com/healthcarereform.html

Someone with a million dollar investment portfolio could surely write a $134,000 check if he thought it was a compelling deal.

intercst
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