Message Font: Serif | Sans-Serif

No. of Recommendations: 2
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...
No. of Recommendations: 1
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.
No. of Recommendations: 4
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
No. of Recommendations: 0
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
No. of Recommendations: 2
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
No. of Recommendations: 1
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