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Social Security Non LSR but Important

To: lsr list autox <land-speed@autox.team.net>
Subject: Social Security Non LSR but Important
From: Dick J <lsr_man@yahoo.com>
Date: Thu, 19 Jan 2006 10:26:57 -0800 (PST)
  I'm putting this on the list because I know that some LSR racer friends may 
soon be approaching "The Golden Years"  (LOL) and Social Security will be a 
consideration.
   
  I did it yesterday.  I filed for Social Security benefits. You really gotta 
check out the web-site, and get in to the local office and get some guidance so 
you don't end up screwing yourself.   I thought each birthday was some magic 
cutoff date for benefits, but it's not really so.  Every month has a value on a 
chart, and even though it's not directly proportional to the amount of time 
past sixty two that you wait to file, for my age, it amounted to about three 
bucks a month.  I filed to start benefits in June, right after my sixty fourth 
birthday, thinking it was some magic anniversary date that would cause my 
pension to jump to the next notch.   
   
  Not exactly so.  It jumps a little every month.  Therefor, waiting until my 
birthday was of no advantage to me but miss friendly civil service clerk didn't 
bother to expalin this, and I didn't really see the light until I was back 
home.  By waiting until June (after my birthday) my check will be $16 per month 
more.  Had I started my check immediately, I'd get a slightly smaller check, 
but I would have received three checks of about a thousand bucks before my 
birthday.  That means that figuring the three extra thousand I could have 
gotten, calculated against the sixteen extra bucks I'm getting but starting 
three months late, I will now have to live to a little over eighty two to 
recoup those lost three grand and be ahead.  
   
  I'll be damned if I'll let the government screw me, so I guess the upside is 
this is that  I'm now going to live that long, if for no other reason than to 
put the screws to the government!  I'll show them!
   
  Bottom line, because of the significant increase in life expenctancy, you are 
probably better to start drawing SS the first day beyond age sixty two that you 
stop drawing wages.  Waiting to earn a slightly bigger monthly pension will not 
net you more total dollars unless you live way longer  than expected.  You'll 
lose money if you die sooner  - - - like could be caused by failed parachutes, 
broken spindles, locked up spider gears, nitrous explosions, or other common 
maladies of old age.  
   
  Dick 


                
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