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Stephanie O Joy, Esq
Stephanie O Joy, Esq, Soc. Sec. Attorney
Category: Social Security
Satisfied Customers: 13388
Experience:  19+ years legal exp. - 10+ years owning/operating her own SSD Law practice.
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I am singel at age 80 and collecting SS. I unsderstand that

Customer Question

I am singel at age 80 and collecting SS. I unsderstand that some benefits (that I am not aware of ) are being stopped as of May 1st. What am I missing. Malcolm
Submitted: 11 months ago.
Category: Social Security
Expert:  Stephanie O Joy, Esq replied 11 months ago.

Hi, my name is***** and I am here to assist you. I am a social security attorney in my private practice – that is ALL I do. Please let me know that my post here is coming through for you by typing a quick reply.

Expert:  Stephanie O Joy, Esq replied 11 months ago.

Hi Bob, I don't think you need to pay the extra for a phone call, but it is ultimately up to you. This is because the SSA does NOT compound interest. It is 8% of your PIA, x 4. A review of the Regs confirms that there has been no change adding any compounding, thus far (although we may want to push our Congress to make this change).

This is why some people seek to take at 62 or 66 instead of 70, with the "plan" that they will invest that money and earn a great rate of return, to gain compounding... but as it turns out, most people end up using the money for their living expenses, along with paying taxes on it if they have other working income that causes SS taxation, and they do NOT created that compounded interest earnings by investing it. So, like you, I plan on waiting til 70, barring some anomaly!

Expert:  Stephanie O Joy, Esq replied 11 months ago.

http://www.investmentnews.com/article/20140129/BLOG05/140129881/delayed-retirement-credits-accrue-but-are-not-compounded

Expert:  Stephanie O Joy, Esq replied 11 months ago.

I hope this helps! My goal is to provide you with excellent and accurate service – if you feel you have gottenanything less, please reply back, I amhappy to address follow-up questions.

Kindly rate me "excellent"when you are done. I look forward to assisting you in the future, should you have legal questions. Be sure to start future posts with "To ***** Esq., ONLY" if you want me to specifically answer it.

Sincerely, ***** ***** Joy, Esq.

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