标题: I got a real life IPS... [打印本页] 作者: DoubleDip 时间: 2011-7-13 16:09 标题: I got a real life IPS...
A few days before the exam, my dad calls me up and tells me that he's trying to determine when the best time to collect social security. Tells me a bit about family health (both parents died before reaching 75) and no sibling has made it past 75.
So he can collect at 62 for a small amount, or if he waits until 65 it's a larger amount, and if he waits until 70 it's even bigger.
Now I have to do this real life IPS ... and tell you what ... it's infinately harder when 1) it's real life and 2) it's your parents well being on the line.
Ugh.作者: Unforseen 时间: 2011-7-13 16:09
Right, so when you stand to inherit any potential estate that remains you should advise them to take the social security now and try to limit their need to draw on other funds.作者: bkballa 时间: 2011-7-13 16:09
True - so would be tacky to say "so how much were you planning on leaving behind"?
LOL作者: jmh530 时间: 2011-7-13 16:09
I was in a similar situation a few months ago. My mother-in-law who is a teacher asked me whether she should retired in 5 years or wait. I did number crunching for her and showed her the results that helped her make an educated decision. Helping relatives is not easy ...作者: Windjam 时间: 2011-7-13 16:09
Yeah, I'll be doing a lot of reading on the SS website.作者: Chuckrox 时间: 2011-7-13 16:09
Don't forget that up to 85% of SS is taxable if you hit certain income levels so if he is still working you need to take that into consideration as well.作者: Valores 时间: 2011-7-13 16:09
That sucks. Much easier to apply this stuff to Mr. and Mrs. Smith from US Dollar Land where there is government sponsored health care and all transfer payments keep up with inflation than your folks.
Make sure you get to advise on the will. But disclose your conflict of interest.
