Social Security Game Theory

[SuburbanFarmer]

Oh boy... ok, we just had a little seminar at work with one of the advisors from our 401k program on Social Security.

Topics for discussion:

- Apparently, a spouse can collect both on their own earnings, as well as a portion of the other spouses earnings, even though the second one hasn't filed yet.

- The advisor offered to run scenarios for the employees to maximize their benefits by claiming at various ages vs the median life expectancy. I asked if those scenarios include a statistical probability modifier in the bell curve approaching 70 (the age of full benefits) and he looked like he'd been shot between the eyes. Apparently, these scenarios always recommend waiting until 70, unless you have health issues.

- It seems that you can also collect on an EX spouse that you were married to for 10 years. Special benefit for constant divorcing/remarrying??

- why in the hell is marriage even a factor in Social Security?? It should be based on your own earnings period.

[The Conservative]

Oh boy... ok, we just had a little seminar at work with one of the advisors from our 401k program on Social Security.

Topics for discussion:

- Apparently, a spouse can collect both on their own earnings, as well as a portion of the other spouses earnings, even though the second one hasn't filed yet.

- The advisor offered to run scenarios for the employees to maximize their benefits by claiming at various ages vs the median life expectancy. I asked if those scenarios include a statistical probability modifier in the bell curve approaching 70 (the age of full benefits) and he looked like he'd been shot between the eyes. Apparently, these scenarios always recommend waiting until 70, unless you have health issues.

- It seems that you can also collect on an EX spouse that you were married to for 10 years. Special benefit for constant divorcing/remarrying??

- why in the hell is marriage even a factor in Social Security?? It should be based on your own earnings period.

Welcome to the Liberal way of life.

[SuburbanFarmer]

I'd rather keep this thread free of Red v Blue nonsense. It's a national clusterfuck perpetuated by both parties.

I just can't believe how bizarre the system really is..

[The Conservative]

I'd rather keep this thread free of Red v Blue nonsense. It's a national clusterfuck perpetuated by both parties.

I just can't believe how bizarre the system really is..

Social Security is a Ponzi scheme, you are just coming out to the conclusion it is a clusterfuck now?

[SuburbanFarmer]

I'd rather keep this thread free of Red v Blue nonsense. It's a national clusterfuck perpetuated by both parties.

I just can't believe how bizarre the system really is..

Social Security is a Ponzi scheme, you are just coming out to the conclusion it is a clusterfuck now?

I knew that much already. But collecting against your spouses/ex-spouses, and the craziness of gambling on your lifespan are new to me.

EDIT: My favorite bit was when he recommended using a REVERSE MORTGAGE in order to hold off on claiming sooner. So, I should throw my house away, on the assumption that I'll live long enough to get the extra few grand from SS over my lifetime? assholes

[The Conservative]

I'd rather keep this thread free of Red v Blue nonsense. It's a national clusterfuck perpetuated by both parties.

I just can't believe how bizarre the system really is..

Social Security is a Ponzi scheme, you are just coming out to the conclusion it is a clusterfuck now?

I knew that much already. But collecting against your spouses/ex-spouses, and the craziness of gambling on your lifespan are new to me.

EDIT: My favorite bit was when he recommended using a REVERSE MORTGAGE in order to hold off on claiming sooner. So, I should throw my house away, on the assumption that I'll live long enough to get the extra few grand from SS over my lifetime? assholes

There was a big thing about that about a decade ago, a lot of people fell for it.

[SuburbanFarmer]

Social Security is a Ponzi scheme, you are just coming out to the conclusion it is a clusterfuck now?

I knew that much already. But collecting against your spouses/ex-spouses, and the craziness of gambling on your lifespan are new to me.

EDIT: My favorite bit was when he recommended using a REVERSE MORTGAGE in order to hold off on claiming sooner. So, I should throw my house away, on the assumption that I'll live long enough to get the extra few grand from SS over my lifetime? assholes

There was a big thing about that about a decade ago, a lot of people fell for it.

It's back. You can't get rid of a perfect wealth-destruction tool that easily.

[Speaker to Animals]

Yeah, women often take advantage of this to collect on the social security of the man they defrauded via marriage. So they get to steal the kids, steal his income for twenty years or more, and then they can collect on his social security while they are working on victim number two or three.

[heydaralon]

I knew that much already. But collecting against your spouses/ex-spouses, and the craziness of gambling on your lifespan are new to me.

EDIT: My favorite bit was when he recommended using a REVERSE MORTGAGE in order to hold off on claiming sooner. So, I should throw my house away, on the assumption that I'll live long enough to get the extra few grand from SS over my lifetime? assholes

There was a big thing about that about a decade ago, a lot of people fell for it.

It's back. You can't get rid of a perfect wealth-destruction tool that easily.

How widespread is this? This is quite nauseating.

[SuburbanFarmer]

There was a big thing about that about a decade ago, a lot of people fell for it.

It's back. You can't get rid of a perfect wealth-destruction tool that easily.

How widespread is this? This is quite nauseating.

Well, it's on a tv commercial about every 5 minutes, and radio.. Pretty fucking widespread.