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Author: mendomann Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19224  
Subject: Secrets to Maximizing Social Security Date: 8/9/2010 6:10 PM
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Despite a temporary shortfall, the nation's primary retirement system continues to pay full benefits. See how to make the most of yours. More...

http://finance.yahoo.com/retirement/article/110266/secrets-t...
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Author: Davem105 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16697 of 19224
Subject: Re: Secrets to Maximizing Social Security Date: 8/11/2010 11:19 PM
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Ok, let's take the hypothetical. So the guy in the article repays $143,000.00 so that he can get an extra $600.00 a month. Looks like it would take 20 years to get that money back.

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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16698 of 19224
Subject: Re: Secrets to Maximizing Social Security Date: 8/11/2010 11:58 PM
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So the guy in the article repays $143,000.00 so that he can get an extra $600.00 a month.

Take another look at the article. The increase in his benefit alone is $1100+ per month. There's no mention of the amount of his wife's benefit, but assuming it's 50% of his that would be another $550+ per month, for closer to $1,800 in increased benefits.

Phil
Rule Your Retirement Home Fool

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Author: hockeypop Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16699 of 19224
Subject: Re: Secrets to Maximizing Social Security Date: 8/12/2010 8:51 AM
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Phil's right. Don't forget that the alternative is an annuity. With many interest rates under 3%, this is a great deal in comparison.

Hockeypop

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Author: CABob Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16700 of 19224
Subject: Re: Secrets to Maximizing Social Security Date: 8/12/2010 12:04 PM
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So the guy in the article repays $143,000.00 so that he can get an extra $600.00 a month.

Take another look at the article. The increase in his benefit alone is $1100+ per month. There's no mention of the amount of his wife's benefit, but assuming it's 50% of his that would be another $550+ per month, for closer to $1,800 in increased benefits.

Plus if he passes before his wife the wife would get his benefit amount for the remainder of her life.

Bob

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Author: OxBeaux Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16744 of 19224
Subject: Re: Secrets to Maximizing Social Security Date: 9/15/2010 2:46 PM
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Ok, let's take the hypothetical. So the guy in the article repays $143,000.00 so that he can get an extra $600.00 a month. Looks like it would take 20 years to get that money back

I did this a year ago and I paid back $107,000 and increased my payment $1000 a month.

As someone has already mentioned there is nowhere that you can get an inflation protected annuity for any where near that.

OxBeaux

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