Saving Social Security

Quote: rxwine

A private insurer can take from months to a year to resolve a permanent disability claim from the time of injury. And that's assuming you're not disputing the issue.

Quote: SOOPOO

Anything can happen, of course. They are telling me the EARLIEST it will be looked at is 200 days. I know of 1 person collecting disability. Private approved 2 weeks after papers submitted. Government took over a year.

I’ve dealt with private payors and government payors for 3 decades as ‘the billing guy’ for my anesthesia group. Including all private and government payors, Medicaid was BY FAR the most incompetent. Followed closely by Workers Comp. Then Medicare. The worst private insurer was light years better than the best government payor.

Quote: SOOPOO

I’ve decided to go apply for Social Security. Called to make an appointment. After a LENGTHY mention of every possible service/plan/requirement the robot tells me average wait time to speak to someone to make an appointment is 60 minutes! On the pre-recorded message it mentions that if applying for Social Security Disability the average wait time for an answer is 200-230 days!

So if you get disabled today, between getting the needed documentation to Social Security and their ‘average time to process’ you are likely getting nada for at least a year! (You will get a lump sum check when approved).

Reminds me why I want the government administrating as few ‘things’ in my life as possible. When I turn 65 my health insurance will be through one of those Medicare Advantage plans, so at least a private insurer will be responsible for ‘stuff’.

The message mentioned a 2.5% COLA to benefits this year. I’m not sure what planet had the cost of living only rise by 2.5%. So slightly bigger check able to buy slightly less.

Quote: DRich

Soopoo, without getting to personal can you tell us which age group you are in? I am not very familiar with SS, is the price capped by age? I assume you have contributed the max the last 40 years or so.

Quote: SOOPOO

I’ll be 64.5 when I start collecting. I’ll be getting around 82% of the what I could if I wait. It will be around $3k a month. My cohorts who have continued working at least part time until 70 will get around $4k a month. My official retirement age is actually 67. So that’s why the big cut.

There are MANY factors that play into when you choose to start collecting. My plan, can’t articulate exactly why, was to collect at 65, or when I bought a new house with mortgage payments, whichever came first. Mortgage came first.

There is something soothing/pleasurable/enjoyable/(more synonyms?) about getting a check for NOT working. I know I contributed max for decades, but it’s going to feel good getting that check.

Quote: DRich

Thank you. I assumed you were around 65. My goal is to collect at 62.5 in about four years. Currently I believe it would be around $2600 a month with COLA probably closer to $3000 in four years. I am hoping that will cover my medial insurance until 65 when I qualify for medicare.

Quote: terapined

I took early SSA and have absolutely no regrets
I retired early at 61 and lived off savings and IRA
As soon as I turned 62, I went for it
Even though it's a small check( I made a lot less then you guys) I live very comfortably taking 4% out of IRA yearly plus SSA. I easily live within my means and was able to afford splurging on 30 Dead and Co sphere shows
I love retirement
The best part is no job stress