It’s Your Money > Social Security and Pensions

Why Smart People Take Social Security at 62

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It is true about children.  Not well known though.  My son has a Philippine birth certificate so he does not have an American birth certificate.  Two or three months after I began drawing, I was sent a notice from the SSA that my son might be eligible for benefits off my record.  I did not yet have his Consular Report of Birth Abroad (his version of an American birth certificate) nor did I have a SSN for him.  So, I hurried up and set an appointment with the Embassy to get his CRBA and put in the SSN application.  Before the end of my first year, his benefit began with back payments.  Someone has to be assigned to manage his benefit (me).  It is not to be considered as another source of income but expenses for him can be taken out.  His formula used to cost over 100 bucks a month and what he uses now still costs almost 1.5k pesos three times a month so I been taking that out along with some other expenses.  Most of it goes into an NFCU account for him and US Savings Bonds.  I do plan on using some of it to help me pay for his schooling and then after he turns 18 he has access to the account.  It will be fairly significant and I hope he uses it wisely.  So, me drawing it at 62 allows early benefits for him too.  I did not feel too good about taking it but I then thought, crap, they won't let my wife, who I plan to have the rest of my life get a survivor benefit from my account when I kick out.  Oh yeah.  If by some chance I got run over prior to him becoming an adult, some of my benefit would be factored in to his and increase it.

And it sure is not a reason to have more kids.

With all of this talk about people dying and what happens after, here's some other information that people aren't always aware exists.
As a resident of the U.S. they would then be eligible for SS survivor benefits (once they reach the appropriate age).

Green Card for a Widow(er) of a U.S. Citizen

Widows or widowers who were married to U.S. citizens at the time of the citizen’s death may apply for a green card.

Until October 28, 2009, you had to have been married to the deceased citizen for at least two years at the time of the deceased citizen’s death, in order to immigrate as the widow(er) of a citizen.  Congress removed this requirement, effective October 28, 2009.

To immigrate as the widow(er) of a citizen, you must prove that you were legally married to the citizen, and that you entered the marriage in good faith, and not solely to obtain an immigration benefit.

Children of Widow(er) of a U.S. Citizen

Your unmarried children under the age of 21 (known as “derivatives”) may be included on your immigration petition.

Gray Wolf:

--- Quote from: suzukig1 on February 13, 2018, 10:38:29 AM ---Spouses or former spouses that are not U.S. citizens and are not U.S. residents and have not lived in the U.S. while married to the SS spouse for at least 5 years do not qualify for SS survivor benefits.  My wife does not qualify for SS survivor benefits.

--- End quote ---

My former spouse was a US citizen, living in the US her entire life. She gets half the amount I receive monthly. My current wife, Filipino by birth, a Naturalized US citizen, having lived in the US since June 2000 will qualify for full survivor benefits upon my death... with proper notification, death certificate, SS records, etc, etc.
At least, that's my understanding. Hope I'm not wrong. Glo would kill me now for the insurance payoff instead  :D :D

Gray Wolf:
Is Social Security to blame for so many men dying at 62?
“A lot happens in our early 60s. Some change jobs, scale back working hours or retire. Our health-care coverage may shift. We may have fewer financial resources, or we may begin collecting Social Security," Fitzpatrick told The Wall Street Journal. “About one-third of Americans immediately claim Social Security at 62. Ten percent of men retire in the month they turn 62.”

Yup, got to keep active, couch potatoes have more of a chance of leaving this world early but IMO it is more about genes than anything else.


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