At work, they had another webinar on social security and so here are some notes.

– To be eligible need 40 quarters or ten yrs. of work history
– Go to the Social Security website and claims your user name and password, avoids someone else doing it in your name.
– They tax your provisional income including income from your Social Security. If you are single, have 34K you get charged on 85%
– 8 % added to tax income added each year if you delay your SS from 62-70.
– You can apply online (is best), on phone (hold times is terrible). Call first in the morning (mg).
– Pension: Using single life insurance rather than joint life works half of the time.
– What is the likely hood we have on Social Security in the future > it is very high. There will be a point of more money will be going out rather than coming in. Social Security may change
– a. The age base of 137 you don’t get taxes one earns above that. They may tax on all income.
– b. delay when someone can be eligible for Social Security i.e. 70
– c. politicians don’t want to jeopardize the votes of those needing SS.