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Planning to retire?

A bit off the local beat, but for those of you who expect to retire at age 62, here is some social security information you might want to review. For most of us, full benefits will not be available unless we wait until age 70 to retire. They are raising the age for Medicare elgibility as well. Right now that age is 65 and with the "new healthcare law" they are looking at raising Medicare age to 70 as well.

Here is the article. Not sure if I understand it all, but you might be interested.

http://finance.yahoo.com/news/older-workers-dont-know-social-153901...

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Permalink Reply by XLFD on April 9, 2012 at 12:00pm

The rules of the game will continue to change as time passes so when you celebrate your 60th birthday with a set and clear plan, be sure to continually recheck the playing field to figure out what's best for you and your retirement plans. A lot of things are a-changing right now just due to the impact of Obamacare and its possible revision.

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Permalink Reply by masonco on April 9, 2012 at 5:56pm

Being as I work in Geriatric health care, I see negatives from it already. Yes prescription donut hole is less, but what they don't tell you is that the expensive medications are often "unavailable" for "unknown" reasons, I've seen fewer hip or knee replacement patients who are over 80 years old already because...

Also, I find it interesting that the "average" life expectancy is 70 in USA and retirement is 70 and soon Medicare could begin at age 70?

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Permalink Reply by Max on April 9, 2012 at 11:59pm

" I've seen fewer hip or knee replacement patients who are over 80 years old already because..."

Well I guess I'm lucky that I've already gotten both of my hips replaced! I got the second one done about a month ago...

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Permalink Reply by Willy on April 10, 2012 at 7:20am

This is not directly related to this topic but a relative showed me a handout that came with their SS check that contained information about SS. On one side the information was in English. The opposite side was in Spanish. I didn't realize that there were so many non English speaking people collecting SS benefits. How does that happen? How does someone enter a country and never learns to speak English but manages to qualify for SS. Is there any other country in the World that would allow this?