Jan 13, 2012, 5:20 PM
Post #13 of 22
Another thing I forgot to mention, is that a person may apply for the SS benefit at age 62, or 65. If a person elects to retire at age 62, the amount received will be less than a full pension, and it can never be raised. It would have been about $300 Dollars less per month for me. I elected to wait until I was 65 years old before I applied, in order to get my full benefit. If a person elects early SS retirement, they will gain for about 14 years, then they will slowly lose money every month. I am now slowly gaining every month.
My suegra, or her son, did not understand that, and she thought at first, that she could apply again in 3 years for the full benefit. That could not be done. She does receive over $800 US Dollars per month, plus her Mexican pension of a little over $4,000 Pesos per month. She does own her own home in Mexico City outright, plus she now lives with me and I fully support her.
My own income is fairly high for a retiree. Between my 3 union pensions and Social Security benefit, my yearly income is about $69,957 US Dollars, or $953,600 Pesos per year. Not big money anymore, but not little either. I can live anywhere I want to. (no, I don't want to live in Palm Springs, or in an expensive retirement community in Florida.)
I still advise anyone to visit an official Social Security office to get good advice. A person in a Consulate that “specializes” in Social Security matters is not as likely to be fully informed about all of the nuances of Social Security laws and regulations, it can be very complex. Do not depend on any advice, including mine, that you get from any weboard.
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