CCL
Junior Associate
Joined: Jan 4, 2011 19:34:47 GMT -5
Posts: 7,594
|
Post by CCL on Jul 10, 2020 22:01:52 GMT -5
Blonde Granny That's a big pay cut. Were you already full retirement age when you started collecting your Social Security?
|
|
Blonde Granny
Junior Associate
Joined: Jan 15, 2013 8:27:13 GMT -5
Posts: 6,919
Today's Mood: Alone in the world
Location: Wandering Aimlessly
Mini-Profile Name Color: 28e619
Mini-Profile Text Color: 3a9900
|
Post by Blonde Granny on Jul 11, 2020 7:17:32 GMT -5
CCL, my DH retired when he was 51, that was in 1995. I never did have any type of wondrous jobs. Our ages were 7 months apart, and we both took our SS when we turned 62.
As our retirement went on, and his health started to deteriorate we did some quick calculations and knew exactly what would happen to my income when he died. My biggest loss was his VA disability then my SS.
|
|
countrygirl2
Senior Associate
Joined: Dec 7, 2016 15:45:05 GMT -5
Posts: 16,893
|
Post by countrygirl2 on Jul 11, 2020 10:08:48 GMT -5
endofera Actually DD gets half of her dads now and when he dies, she will then go to 3/4's of his benefit so an increase.
Yes, I will lose my SS its on my earnings as half of his and mine in full was almost equal so I stayed on mine. I asked at that time if I get extra for taking care of DD, and it was no. I thought you did.
I hope I get his in full with DD here as we will need it. But I also plan to downsize a bunch so we will be ok.
|
|
countrygirl2
Senior Associate
Joined: Dec 7, 2016 15:45:05 GMT -5
Posts: 16,893
|
Post by countrygirl2 on Jul 11, 2020 10:29:00 GMT -5
That's why we have all these houses around here in horrible shape, the hubs generally dies first and the wife is left on a practically starvation amount if they have no savings. So by the time they go to a nursing home or subsidized houses their old houses are in horrible condition. No money to keep them up.
|
|
CCL
Junior Associate
Joined: Jan 4, 2011 19:34:47 GMT -5
Posts: 7,594
|
Post by CCL on Jul 12, 2020 7:15:59 GMT -5
CCL, my DH retired when he was 51, that was in 1995. I never did have any type of wondrous jobs. Our ages were 7 months apart, and we both took our SS when we turned 62. As our retirement went on, and his health started to deteriorate we did some quick calculations and knew exactly what would happen to my income when he died. My biggest loss was his VA disability then my SS. Thank you. If you don't mind answering, after your husband passed and you lost your SS, was the amount of his reduced (again) due to initially taking yours at 62? My hubby already started receiving his at 62, but I haven't. I'm trying to figure out when I should start collecting mine. I always thought if he died before me I would get the same amount he was receiving at time of death. Now it seems that may not be correct.
|
|
Blonde Granny
Junior Associate
Joined: Jan 15, 2013 8:27:13 GMT -5
Posts: 6,919
Today's Mood: Alone in the world
Location: Wandering Aimlessly
Mini-Profile Name Color: 28e619
Mini-Profile Text Color: 3a9900
|
Post by Blonde Granny on Jul 12, 2020 7:34:05 GMT -5
CCL, as strange as it was, when my SS was ended, his slightly increased from what he was getting. Somewhere I have a letter explaining all this. My biggest hit was losing his VA disability, that was $3000k per month tax free. It was then replaced by something called DIC which is Dependency Indemnity Compensation. The DIC is mine and has nothing to do with SS or his VA disability. DIC is given to the surviving spouse based on very specific rules. It is also tax free. The amount I receive this year is $1340/mo.
|
|
CCL
Junior Associate
Joined: Jan 4, 2011 19:34:47 GMT -5
Posts: 7,594
|
Post by CCL on Jul 12, 2020 19:22:52 GMT -5
Thanks for the info. I keep seeing conflicting info. I still have a couple years to go, so hopefully I'll find out more before then.
|
|