teen persuasion
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Post by teen persuasion on Aug 2, 2019 11:07:28 GMT -5
When we bought our house in 1980, our mortgage was 14%. A few years later the interest rates had dropped to something like 11% and we refinanced. We started making extra principle payments fairly quickly. I had a printout from the bank showing all 360 payments due, so I would add up the next five principle amounts, for example, then enclose a letter saying that besides payment #45 for $690, I was also including the principle payments for #46-#52 and list them so I could constantly tie to their spreadsheet of required payments. We closed on our house in Dec 1980 and our last mortgage payment was about June 1994 (the summer we visited Norway). There's another thread here about receiving "life changing money." That's sort of what I felt like when we finished paying off our mortgage. Instead of the thousands that we were sending off to the mortgage company each year, now, all of a sudden, we had these thousands of dollars going into our savings account. My husband was a champion of investing, so those funds did not stay in our savings account but were used to buy stock. That worked out very well for us.
I did something very similar with our 9.75% mortgage. I wrote out an amortization schedule on the back of an envelope, listing interest, principal, and remaining balance for each month. Then I could see that at the beginning we were only paying off $35/month in principal. So a little more than $100 extra would knock off 3 months! So I tried to at least add an extra month's principal with each payment, but really 2 or 3 early on (when they were small). Got an escrow overage check? Put it towards principal. Tax refund? Knock off a few years! Small inheritance? Knock off 8 years! Towards the end, it was much harder to regularly add an extra month's principal payment because it was shifted to mostly principal, but kept throwing the tax refunds at it annually. The best time to make extra principal payments are at the beginning of the mortgage, when it is mostly going to interest. Having the amortization schedule showed this clearly. Now, if we had a mortgage with current low rates, I'm not sure we'd pay it early. There's probably less of the divergence we had between interest and principal in our early payments.
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Iggy aka IG
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Post by Iggy aka IG on Aug 2, 2019 11:17:14 GMT -5
To speak to your post, phil5185 , similar to others, I'll have two different lines of retirement, as well as social security to buy food, RX, fuel, and other needs. I calculated necessities, including property taxes, to be around $800 a month. Much less to worry about than adding in my half of the mortgage payment. An emotional thing? Guilt? Nah, I am looking forward to having NO debt in retirement which equates to freedom in my mind.
~~~~~~~~~ Presented the idea to DH last night. His first question was how much extra do you want to pay [per month]? His next comment was, well it sounds good.... I then told him about the financial website I follow (referencing YM) and the fact I put a shout out to ask for feedback.
I'm excited. I'll pay off a few other things (our boiler!!) and start paying the extra toward the mortgage next summer. In fact, I input into my calendar to follow up here a year from now to confirm it's a go.
not to scare you, but unless you have access to really good health insurance when you retire and are lucky enough to be healthy, be prepared for much higher healthcare costs. Right now, my mom's medicare supplement and prescription plan cost $210/combined. She was recently diagnosed with Congestive Heart Failure and now her prescription co-pays are just under $300/month (Eliquis alone has a co-pay of $110!). She also had to pay $54 for the ambulance ride to the hospital and I am not yet sure what kind of co-pays she might have from her 3 weeks in the hospital, followed by another week and a half. I am banking on a lot higher for medical once I retire. That is what scares the crap out of me. Yeah, as you know, I sell the stuff for a living. I looked up current Medicare and Part D premiums and figured them into my future monthly needs. Being financially conservative, I round costs up. That being said, I will ask our local pharmacy how much co-pays are for my asthma/allergy RX when one is on Medicare...
Sorry about your mom. My mom is closing in on 70. In fact, she turned 69 today, is still in the workforce, has a few health issues, too, with a new mortgage on her brand new town home as of this past Wednesday. When I'm that age, I want to be sitting on the deck with whatever beverage I'm in the mood for, overlooking our paid off 40 acres. Oh, and traveling to see whatever friend at a moment's notice.
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ken a.k.a OMK
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Post by ken a.k.a OMK on Aug 2, 2019 11:40:53 GMT -5
Sorry about your mom Miss Tequila. I was just diagnosed with CHF last month. So far tricare has covered everything and my med copay's are $11. I am 72 yo. BTW nice pic of both of you on fb. She looks great. Oh you aren't bad either. I agree with the peace of mind of going into retirement debt free. We managed to then bought a house around the corner for my MIL. Instead of paying cash we took out a 3.5% mortgage for $170,000. Still less then we get on our investments.
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Post by Deleted on Aug 2, 2019 11:51:11 GMT -5
I don't think of it as emotional fear. And I can't imagine how "guilt" would play into this discussion. Guilt about what? I just don't like debt. I also don't like investing that much. You also have to think about the investment timeframe. We had this same discussion a few years ago, and phil5185 made the same argument. But when I asked specifically about my situation, he said it was a wash because the time frame was too short -- it was 10 years if I remember correctly. So if I am not going to really make money by putting the extra in the market and might possibly lose it, I am better off just sending it to Chase. I'm not a gambler in case you haven't noticed.
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Post by Deleted on Aug 2, 2019 12:16:32 GMT -5
Phil's personal residence has been paid off for a long time. I don't understand why he doesn't go get a 30 year mortgage on it and invest all that cheap money. I realize he's already wealthy and doesn't "need" more, but come on. Why wouldn't you use all that free money to make more money?
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Iggy aka IG
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Post by Iggy aka IG on Aug 2, 2019 12:25:35 GMT -5
To speak to your post, phil5185 , similar to others, I'll have two different lines of retirement, as well as social security to buy food, RX, fuel, and other needs. I calculated necessities, including property taxes, to be around $800 a month. Much less to worry about than adding in my half of the mortgage payment. [snip]
Just formulated an actual Excel sheet, and the needs number is closer to $1,100, and doesn't include income taxes or RX.
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Post by Deleted on Aug 2, 2019 12:39:31 GMT -5
My take is some people have gotten used to the last 10 years and have forgotten just how bad 08/09 were.
If you didn’t experience it yourself or know people who did you may be just a bit naive on what happened to a lot of people that had over-leveraged on their homes at the same time the stock market crashed.
I’m just fine with having 10% of my net worth tied up in my paid off home.
Citing folks that went through the depression as a partial argument for investing your homes net worth is baffling.
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pooks
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Post by pooks on Aug 2, 2019 12:52:25 GMT -5
We decided to focus on paying off our mortgage after the tax reform bill effectively removed our mortgage interest deduction. For some reason paying $900 a month in interest really annoyed me once it wasn't tax deductible.
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MN-Investor
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Post by MN-Investor on Aug 2, 2019 16:09:31 GMT -5
I'm surprised that almost everyone wants to pay off their mortgages early? Sounds like an emotional thing? Or guilt? lol Mortgages in the US provide some of the cheapest capital in the world. Most people of us can walk into a bank, ask for $300,000 or more to buy a house, insist on a fixed rate, insist on having that rate guaranteed for 30 years - and if rates happen to go down, we can refi to the new lower rate. Most countries don't do that - you have to refi every few years at a new going-rate. Yet most people seem to want to prepay their mortgage? Actually, the bank loans you $300,000 - if your income qualifies you for that - and then the bank has a lien on your house for that $300,000. Stop paying your mortgage, and the bank forecloses. And since your early payments are primarily interest, not principle, you're not building up equity very fast in your house. So if the bank forecloses, you end up with nothing. Your interest payments are gone and your house is gone.
I wouldn't dream of pre-paying on my house without having an emergency fund built up. And I wouldn't have it invested in the stock market. But by your advice, I'd have the $100,000 locked into the stock market which might be tanking at the same time that I'm looking for a job. So after I've used my mortgage to buy stocks, I'm losing - maybe - 30% of their value. How dumb is that? With my scenario I'd have paid $50,000 more towards the principle and kept $50,000 in my emergency fund. Certainly enough for me to keep paying my mortgage and living on one income.
A lot of folks who lived through the Great Depression ended up being super frugal. Since credit cards were not ubiquitous during the period when they were raising families, it was harder to get into the kind of debt that folks do today. It wasn't better money management skills, it was just lack of opportunity to amass credit card debt.
But I strongly dispute the idea that folks who lived through the Great Depression were wise investors. You've got to be kidding - they saw what happened to people who put their money into the stock market. When I was growing up, it seems that most parents were putting their money into savings accounts and CDs. Workers were more likely to be members of unions and covered by pension plans. How many retirees had stock portfolios in the '50s and '60s?
I'll stick with my advice to pay down your mortgage, but I will expand that advice. Everyone should build up an emergency fund before putting extra money towards their mortgage. And everyone should be contributing to their 401(k)s to the extent that their employers match before putting extra money towards their mortgage. Before you prepay your mortgage, run the numbers and make sure it makes financial sense.
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TheOtherMe
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Post by TheOtherMe on Aug 2, 2019 16:31:37 GMT -5
I also disagree about those who lived through the Depression.
My parents would have a lot more money today (only dad now) if they would have been willing to take risks. Dad converted all of his stock options as soon as they vested and they only "invested" in long term CDs.
The highest interest they ever made was on a substantial loan to my BIL which happened during the farm crisis in the 80's.
When it got to where that interest income was the only reason my parents owed income taxes, my BIL paid the loan completely off. No more income taxes.
His money is making a little over 1% now, the same as my piddly savings account in comparison to his.
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Iggy aka IG
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Post by Iggy aka IG on Aug 2, 2019 16:40:03 GMT -5
I'll stick with my advice to pay down your mortgage, but I will expand that advice. Everyone should build up an emergency fund before putting extra money towards their mortgage. And everyone should be contributing to their 401(k)s to the extent that their employers match before putting extra money towards their mortgage. Before you prepay your mortgage, run the numbers and make sure it makes financial sense.
MN-Investor, an excellent post in it's entirety. I quoted the paragraph above because a friend who is my mother's age, 69, echoed your advice in bold above today at lunch. I had asked her what advice she had once someone stops receiving a steady paycheck. Oh, and she mentioned signing up for the Medicare supplement, and how the government will take Medicare premiums directly out of the social security check. Not sure how I feel about that, LOL.
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TheOtherMe
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Post by TheOtherMe on Aug 2, 2019 17:44:38 GMT -5
Paying Medicare premiums via deduction from Social Security is probably the most common way they are paid. At least that was my experience when I prepared tax returns.
I will never receive Social Security, so I don't have that option. They bill me quarterly. I wish they were deducted from my pension.
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NastyWoman
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Post by NastyWoman on Aug 2, 2019 17:49:45 GMT -5
Phil's personal residence has been paid off for a long time. I don't understand why he doesn't go get a 30 year mortgage on it and invest all that cheap money. I realize he's already wealthy and doesn't "need" more, but come on. Why wouldn't you use all that free money to make more money? His wife knows about the Everything Else frEEzer and that warrants caution
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phil5185
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Post by phil5185 on Aug 2, 2019 18:35:55 GMT -5
Why wouldn't you use all that free money to make more money?
lol, me and wife of 51 years have had that discussion. Not the Hill that I want to die on! (Yes I've learned a few things in 50 years.) The rental houses have all had multiple mortgages over the years, our home has only had 3, a construction loan to make the original down payment - a second mortgage to make DPs on two renal houses a few years later. But none in the last 25 years.
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NastyWoman
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Post by NastyWoman on Aug 3, 2019 1:25:43 GMT -5
Why wouldn't you use all that free money to make more money?
lol, me and wife of 51 years have had that discussion. Not the Hill that I want to die on! (Yes I've learned a few things in 50 years.) The rental houses have all had multiple mortgages over the years, our home has only had 3, a construction loan to make the original down payment - a second mortgage to make DPs on two renal houses a few years later. But none in the last 25 years.
I knew it, I knew it, I knew it. It is the infamous frEEzer
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vonna
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Post by vonna on Aug 3, 2019 9:51:32 GMT -5
I like this thread. I am in the "don't pay the mortgage early" camp. BUT, DH and I both have pensions that easily cover the monthly payment. If I didn't have a pension, I would likely be in the "pay it off" camp. That being said, once the 30 year mortgage is paid off, I would never take out another to invest in the stock market. I will be happy for the payment to be gone! (loooooong way to go) But, minnesotapaintlady when I read you plan to take your Roth contributions to pay your mortgage off once the amounts are equal, this gave me pause. I am in no place to give you financial advice, because, well, you know way more than me. It's just that the Roth is such an amazing thing -- and if you pull such a big chunk out, you will miss out on years of gains -- so maybe, you could take just a portion out each year to help with mortgage payment, say $6000 a year to put $500 per month towards mortgage. Would ease your monthly budget without drawing down your account so drastically.
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Post by The Walk of the Penguin Mich on Aug 3, 2019 10:38:34 GMT -5
I'll stick with my advice to pay down your mortgage, but I will expand that advice. Everyone should build up an emergency fund before putting extra money towards their mortgage. And everyone should be contributing to their 401(k)s to the extent that their employers match before putting extra money towards their mortgage. Before you prepay your mortgage, run the numbers and make sure it makes financial sense.
MN-Investor , an excellent post in it's entirety. I quoted the paragraph above because a friend who is my mother's age, 69, echoed your advice in bold above today at lunch. I had asked her what advice she had once someone stops receiving a steady paycheck. Oh, and she mentioned signing up for the Medicare supplement, and how the government will take Medicare premiums directly out of the social security check. Not sure how I feel about that, LOL.
I don’t remember being given a choice about how my Medicare premiums are paid. I imagine if you are still working and not collecting SS, there is some alternative though. The government does not take your supplemental premium from your SS check.
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Post by Deleted on Aug 3, 2019 10:46:48 GMT -5
MN-Investor , an excellent post in it's entirety. I quoted the paragraph above because a friend who is my mother's age, 69, echoed your advice in bold above today at lunch. I had asked her what advice she had once someone stops receiving a steady paycheck. Oh, and she mentioned signing up for the Medicare supplement, and how the government will take Medicare premiums directly out of the social security check. Not sure how I feel about that, LOL.
I don’t remember being given a choice about how my Medicare premiums are paid. I imagine if you are still working and not collecting SS, there is some alternative though. The government does not take your supplemental premium from your SS check. I had to go on Medicare as of June 1 but won't begin SS until as of Sept. 1 (first check at the end of October). They send you a quarterly bill although there may also be an option to pay monthly. I didn't explore that much. What was interesting was that I could use a CC to pay it and get points without a surcharge. That's very unusual for anything dealing with the government.
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countrygirl2
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Post by countrygirl2 on Aug 3, 2019 11:04:47 GMT -5
Our part B is automatically paid out of SS check. The standard Medicare Part B monthly premium for 2019 will be $135.50, a modest increase of just $1.50 per month over 2018's standard premium. In addition, the annual Medicare Part B deductible will increase, but by just $2, to $185.Oct 13, 2018
I pay that $135.50 plus $179 supplement plus $57 drug coverage. That's $371 and for quite a few months was paying $300 in scrips. This month I dropped 2 and my praluent went from $180 to $113, so went down to $188 total. But if I'm sick there will be deductibles for the drugs. My supplement is excellent and picks up all deductibles, but plan F is going away and I worry my insurance will drop me after 2 expensive years in a row, sigh. Hubs pays $135.50 plus $139, but he has plan G, I have F. plus $15 for his drugs. So $848 total, I thought it was $1000 just for premiums. think it was but hubs took less coverage. Just will owe some deductibles so no big deal. I have so many issues my insurance will keep climbing I'm sure.
So my total is $559 and his is $289 for a total of $848. It dropped $112 on drugs for now, so it was $960. It's only going up. Imagine is we had to pay a big mortgage payment too, my anxiety would destroys me.
No way would I go into retirement owing anything.
And yes, I remember when Phil said his wife said no mortgage on their house. Smart lady.
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countrygirl2
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Post by countrygirl2 on Aug 3, 2019 11:07:58 GMT -5
We had a mortgage on a rental, int rate was I think 7 or 8%. I did the same I would had up several months of principal payments to know it out. I would write a check and put principal only. They still put it as payments, had me a year or so out. I had to call and argue to get it fixed, they finally did. We knocked that sucker out in short order, I put rent payments against it also. I think we paid it off in 5 years or so.
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Post by Deleted on Aug 3, 2019 11:12:55 GMT -5
I like this thread. I am in the "don't pay the mortgage early" camp. BUT, DH and I both have pensions that easily cover the monthly payment. If I didn't have a pension, I would likely be in the "pay it off" camp. That being said, once the 30 year mortgage is paid off, I would never take out another to invest in the stock market. I will be happy for the payment to be gone! (loooooong way to go) But, minnesotapaintlady when I read you plan to take your Roth contributions to pay your mortgage off once the amounts are equal, this gave me pause. I am in no place to give you financial advice, because, well, you know way more than me. It's just that the Roth is such an amazing thing -- and if you pull such a big chunk out, you will miss out on years of gains -- so maybe, you could take just a portion out each year to help with mortgage payment, say $6000 a year to put $500 per month towards mortgage. Would ease your monthly budget without drawing down your account so drastically. Oh, I imagine when it comes right down to it, I won't do that. I'm rather protective of my nest egg. But, realistically, I am pretty far ahead in retirement savings and could afford to do so. Keep in mind a lot of my "planning" is based on the fact that child support for DS ends in 11 months and that is a substantial part of my income. After it's gone I'm going to be struggling. I have a plan that will keep me going until the Roth/Mortgage balance date only, but I might come up with something else in the meantime. I imagine when the time comes, what will really happen is I will reduce all my contributions instead. We'll see. Lord knows a lot can happen in 42 months.
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cronewitch
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Post by cronewitch on Aug 3, 2019 11:32:23 GMT -5
I am old and ISO is old, our homes were mortgaged for 30 years when we were already old. Prepaying would do no good for us. He got his house at 66 so paid off at 96, I got mine at 69 so paid off at 99. Say we each paid an extra 1K a month it would be paid off very little sooner, maybe after we were dead. That extra payment would mean doing without stuff now. I owe about 283K at under 4% paying off taking money from ROTH would cost me all that tax free growth and I couldn't put the payment back in a ROTH if I paid it off.
Sometimes paying off early is worth it like getting it done before retirement instead of 3 years after retirement but even then maybe not. My nephew will be paid off at about 70 but having a tiny house payment his first few retirement years will be like getting a raise when it stops so he doesn't over budget in retirement. His is 3% so doesn't save much interest prepaying.
I prepaid in the 80s when interest rates were high but now in old age I wouldn't. I play with amortization schedules and even with a huge extra payment it still will be extreme old age before the payoff.
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vonna
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Post by vonna on Aug 3, 2019 12:39:17 GMT -5
I like this thread. I am in the "don't pay the mortgage early" camp. BUT, DH and I both have pensions that easily cover the monthly payment. If I didn't have a pension, I would likely be in the "pay it off" camp. That being said, once the 30 year mortgage is paid off, I would never take out another to invest in the stock market. I will be happy for the payment to be gone! (loooooong way to go) But, minnesotapaintlady when I read you plan to take your Roth contributions to pay your mortgage off once the amounts are equal, this gave me pause. I am in no place to give you financial advice, because, well, you know way more than me. It's just that the Roth is such an amazing thing -- and if you pull such a big chunk out, you will miss out on years of gains -- so maybe, you could take just a portion out each year to help with mortgage payment, say $6000 a year to put $500 per month towards mortgage. Would ease your monthly budget without drawing down your account so drastically. Oh, I imagine when it comes right down to it, I won't do that. I'm rather protective of my nest egg. But, realistically, I am pretty far ahead in retirement savings and could afford to do so. Keep in mind a lot of my "planning" is based on the fact that child support for DS ends in 11 months and that is a substantial part of my income. After it's gone I'm going to be struggling. I have a plan that will keep me going until the Roth/Mortgage balance date only, but I might come up with something else in the meantime. I imagine when the time comes, what will really happen is I will reduce all my contributions instead. We'll see. Lord knows a lot can happen in 42 months. That's so cool -- it's nice that you've set yourself up to have choices
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sesfw
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Post by sesfw on Aug 3, 2019 12:44:21 GMT -5
Oh, and she mentioned signing up for the Medicare supplement, and how the government will take Medicare premiums directly out of the social security check.
One of the Obama years, can't remember which one, SS payments didn't increase but the cost of Medicare did. Came down to my SS was $41 LESS each month because of Medicare. This was before I went back to work and was my only income.
That hurt ........
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Post by Deleted on Aug 3, 2019 13:01:56 GMT -5
Oh, and she mentioned signing up for the Medicare supplement, and how the government will take Medicare premiums directly out of the social security check. One of the Obama years, can't remember which one, SS payments didn't increase but the cost of Medicare did. Came down to my SS was $41 LESS each month because of Medicare. This was before I went back to work and was my only income. That hurt ........ This can't happen unless you are separately paying for Medicare outside your SS check.. If there is no COLA, then SS recipients' Medicare premiums can't increase. I don't know when it went into effect, though. Maybe it came about because of what you are describing. In any case, it can't happen now. It's called the "hold harmless provision." Medicare can make up the gap in years when there is a COLA. Here's a link that explains.
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wvugurl26
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Post by wvugurl26 on Aug 3, 2019 13:28:38 GMT -5
Oh, and she mentioned signing up for the Medicare supplement, and how the government will take Medicare premiums directly out of the social security check. One of the Obama years, can't remember which one, SS payments didn't increase but the cost of Medicare did. Came down to my SS was $41 LESS each month because of Medicare. This was before I went back to work and was my only income. That hurt ........ This can't happen unless you are separately paying for Medicare outside your SS check.. If there is no COLA, then SS recipients' Medicare premiums can't increase. I don't know when it went into effect, though. Maybe it came about because of what you are describing. In any case, it can't happen now. It's called the "hold harmless provision." Medicare can make up the gap in years when there is a COLA. Here's a link that explains. Your Part D premium could still go up. The provision only protects you from an increase in Part B premiums if there is no COLA adjustment that year. I believe if you have Part C/Medicare Advantage that could also go up.
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lynnerself
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Post by lynnerself on Aug 3, 2019 13:33:00 GMT -5
We are currently carrying a mortgage in retirement and will continue to do so. Although losing the federal tax deduction hurt. We can afford the payment from our retirement income. I would definately not take money out of my IRA or Roth to pay it off. Keeping money invested has done well for us.
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Iggy aka IG
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Post by Iggy aka IG on Aug 3, 2019 14:32:36 GMT -5
I don’t remember being given a choice about how my Medicare premiums are paid. I imagine if you are still working and not collecting SS, there is some alternative though. The government does not take your supplemental premium from your SS check. I had to go on Medicare as of June 1 but won't begin SS until as of Sept. 1 (first check at the end of October). They send you a quarterly bill although there may also be an option to pay monthly. I didn't explore that much. What was interesting was that I could use a CC to pay it and get points without a surcharge. That's very unusual for anything dealing with the government. Thank you both. I am learning so much in this thread! All I've heard about Medicare is what a nightmare it is to sign up with them. Specifically, two different client friends said they sat on hold for HOURS trying to get through to talk with someone in the department. Oh, and that the premiums keep increasing. One productive thing I heard last week is one should sign up for Part D. I Googled-it seems relatively inexpensive and logical to sign up for prescription purposes.
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TheOtherMe
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Post by TheOtherMe on Aug 3, 2019 14:34:16 GMT -5
I have 20 years to pay on this mortgage. I will be 87. It's at 3.125% interest. The mortgage payment is less than I was paying in rent in Colorado 10 years ago and probably $700-$750 less than I'd be paying if I had stayed. (That's the reason I can't go back)
I won't be paying it off early and the way my life worked out, with retiring early, it is either pay a mortgage or pay rent.
Dad's SS went down the year after the 0% COLA. The increase the next year was so small percentage wise that it didn't cover the increase dollar wise in Medicare Part B. He does not pay his Part D premium out of his Social Security, but that was an option. He gets reimbursed for some of his Part B and D premiums from his former employer and they say it's easier for them if it isn't deducted from his Social Security. Since that reimbursement is 1/3 of what it was when the program was first set up, I don't know why it matters.
They still owe him from several years back and the reimbursement stops when he dies. So they show the reimbursement is coming from several years ago and that they owe him $XXX. He will never see that money.
I am now paying what dad pays for Medicare Part B. Once the "hold harmless" provision went away with the next increase, the difference in cost also went away. I only paid more for one calendar year.
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Iggy aka IG
Senior Associate
Joined: Oct 25, 2012 12:23:23 GMT -5
Posts: 12,390
Location: Good ol' USA
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Post by Iggy aka IG on Aug 3, 2019 14:35:24 GMT -5
Our part B is automatically paid out of SS check. The standard Medicare Part B monthly premium for 2019 will be $135.50, a modest increase of just $1.50 per month over 2018's standard premium. In addition, the annual Medicare Part B deductible will increase, but by just $2, to $185.Oct 13, 2018 I pay that $135.50 plus $179 supplement plus $57 drug coverage. That's $371 and for quite a few months was paying $300 in scrips. This month I dropped 2 and my praluent went from $180 to $113, so went down to $188 total. But if I'm sick there will be deductibles for the drugs. My supplement is excellent and picks up all deductibles, but plan F is going away and I worry my insurance will drop me after 2 expensive years in a row, sigh. Hubs pays $135.50 plus $139, but he has plan G, I have F. plus $15 for his drugs. So $848 total, I thought it was $1000 just for premiums. think it was but hubs took less coverage. Just will owe some deductibles so no big deal. I have so many issues my insurance will keep climbing I'm sure. So my total is $559 and his is $289 for a total of $848. It dropped $112 on drugs for now, so it was $960. It's only going up. Imagine is we had to pay a big mortgage payment too, my anxiety would destroys me. No way would I go into retirement owing anything. And yes, I remember when Phil said his wife said no mortgage on their house. Smart lady. Thank you for sharing this, countrygirl2. These are the specific types of numbers I am looking for for this particular quest. My friend at lunch indicated Medicare does indeed offer the 3 months at a time mail order RX, which I am interested in.
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