Social security only

[SLB_SA]

I’m on hold with SS now. From what I’m reading, you can’t suspend payments unless you are 66. I turn 65 this month. If you take early benefits and stop SS within a year of starting, you can pay back what you received and retract your application so that you can reapply when you reach full retirement. But if you’ve taken the benefit for more than a year and you haven’t yet reached 66, you can’t suspend. That’s what I’m reading and need to confirm.

You are correct.  The law was changed in 2015 (or so).  People born before January 2, 1954 are not bound by these new rules which eliminated "file and suspend" and other useful techniques.

I don't know the meaning of "I’m on hold with SS now."

 

[SLB_SA]

Before the change in the law, you could pay back all of your SS benefits and start over (refile) at FRA or at age 70 (or at 69, etc.). The change in the law gave a person a one year window to change her/his mind, repay all the benefits and refile later. I believe the one year window does not apply to people born by January 1, 1954 but I could be wrong.

 

[gourdgirl]

Okay so I’m good. Once I start the new job, I will tell SS I anticipate earning $xx per year (well over the amount that would net me zero in SS) and based on that they will suspend SS for 2020. If I think I’m going to continue to work in 2021 (god, I hope not), I call them again and tell them my anticipated income for 2021. 

My plan is to work this job and do rideshare for a year and pump up the savings account. I’ll have a decent nest egg for emergencies and my car nearly paid off. I still need to crunch the numbers but that’s hard to do without knowing if I’ll keep the HRV or not.

 

[SLB_SA]

This is just general information:
From this SSA link
Will you receive higher monthly benefits later if benefits are withheld because of work?
Yes. If some of your retirement benefits are withheld because of your earnings, your monthly benefit will increase starting at your full retirement age to take into account those months in which benefits were withheld. As an example, let’s say you claim retirement benefits upon turning 62 in 2020, and your payment is $931 per month. Then, you return to work and have 12 months of benefits withheld. We would recalculate your benefit at your full retirement age of 66 and 8 months and pay you $996 per month (in today’s dollars). Or, maybe you earn so much between the ages of 62 and 66 and 8 months that all benefits in those years are withheld. In that case, we would pay you $1,300 a month starting at age 66 and 8 months.

 

[gourdgirl]

This is just general information:
From this SSA link
Will you receive higher monthly benefits later if benefits are withheld because of work?
Yes. If some of your retirement benefits are withheld because of your earnings, your monthly benefit will increase starting at your full retirement age to take into account those months in which benefits were withheld. As an example, let’s say you claim retirement benefits upon turning 62 in 2020, and your payment is $931 per month. Then, you return to work and have 12 months of benefits withheld. We would recalculate your benefit at your full retirement age of 66 and 8 months and pay you $996 per month (in today’s dollars). Or, maybe you earn so much between the ages of 62 and 66 and 8 months that all benefits in those years are withheld. In that case, we would pay you $1,300 a month starting at age 66 and 8 months.

Yes, but that part wasn't my concern.

 

[gourdgirl]

So now my biggest concern is what I will live in.  The HRV simply isn't big enough and it can't tow anything.  I suppose if I could pay it off or come close to paying it off, I could trade it for something else.  I just really want to make a good decision since I know I probably won't be doing this longer than a couple of years.  Then I get into a situation where I'm driving something which isn't a good daily use vehicle and probably won't be able to trade it for something really dependable.  I'm projecting here without knowing exactly what I can pull off financially.  I don't mind working hard the next year to put myself into a good situation.  I know I'm going to need a comfortable dwelling.  Something big enough to allow me to be inside during bad weather for a couple of days if necessary without going crazy.  Decisions, decisions.  I know you can rent Class C RV's which I may do for some short vacations to decide if that is a good choice for me.  Can you rent other types of RVs like a Class B?

 

[crofter]

...a good daily use vehicle ...

My van is also my daily driver, 20mpg and parks in a city parking space. It's a Promaster 1500. If you are going to work as an expediter, you will want a Promaster 3500 hitop and as long as you can get.  -crofter

 

[WanderingRose]

You can rent RV’s, but they are quite expensive.

Might be good to go to a dealership and spend some serious time looking.

Another option, which would allow you to keep your current vehicle, would be to look into one of the SUV tent attachments that gives you some living space outside.

They are pretty nifty and not that expensive, can be left stationary to drive your vehicle around if you wish.

You would be relegated more to camping than stealth in a town, but depends on what you want to do.

I seriously considered one of these at one point, but passed on it because of my dog. I have seen them in use, and watched a video showing the ease of one being set up.

If you sell your HRV, you will likely lose money on that, then sell what you travel in, losing money on it, to then have to buy something else when you are ready to come in off the road.

Perhaps Google Honda HRV tent attachment and see what is available for your vehicle.

This is one manufacturer

https://www.carid.com/honda-hr-v-te...146][1]=Tents&fitment_type[]=Vehicle+Specific

 

[SLB_SA]

Yes, but that part wasn't my concern.

That's why I said "This is just general information"; other people might benefit from knowing that a person who earns enough can (implicitly) "suspend" benefits and receive higher SS benefits at FRA even if it has been more than 12 months since they started receiving SS retirement benefits.

 

[GypsyJan]

"can be left stationary to drive your vehicle around if you wish."

Not all of the SUV tents are "stand alone" so make sure you research carefully before you buy. I have a Rightline Gear SUV tent and like the large windows for ventilation and the way the rain fly covers the top part of the windows, so I can zip the window partially closed from the bottom and leave the top part unzipped and the fly cover keeps the rain out. Also it has no-see-um screens, which are necessary in Florida. If possible, go to a camping store and see which SUV tent you can lift off the shelf. There was a Napier 6-man at Bass Pro Shop which I could not budge!

 

[highdesertranger]

I had a SUV tent way back. the thing I disliked about them is backing back in to the same place you where when you set it up. I found this most annoying in the dark. highdesertranger

 

[GypsyJan]

Plus you have to wait til your exhaust pipe has cooled off from the trip to town or you might melt the tent.

 

[user 2252]

You can easily check your own benefit amount by logging on to the social security website.

 

[highdesertranger]

Jan sounds like you have experience in this hot exhaust thing. LOL sorry for the chuckle.

HOWEVER that is a excellent point.

highdesertranger

 

[gourdgirl]

The following might be well known to you; if so, my apology.

You wrote "I have one year left at a decent paying job and want to be as prepared as possible."
You also wrote "I started taking SS at 62 but for various reasons I’ve gone back to work."
It is possible that your SS benefit was reduced because of your income from work.  If so, SSA will increase your benefit once you reach FRA to compensate you for your benefit reduction.

I will never receive the max I could have if I had waited until FRA.  However, since I will be paying back into SS over the next 12-18 months then my benefit will increase a bit once I start receiving it again.

 

[gourdgirl]

I had a SUV tent way back.  the thing I disliked about them is backing back in to the same place you where when you set it up.  I found this most annoying in the dark.  highdesertranger

You mean if you detach the tent, leave the campsite and then come back? Yes, I could see how that might be problematic.

 

[gourdgirl]

You can easily check your own benefit amount by logging on to the social security website.

Well yes. I know what my benefit amount is but that wasn’t what my worry was.

 

[gourdgirl]

You can rent RV’s, but they are quite expensive. 

Might be good to go to a dealership and spend some serious time looking.

Another option, which would allow you to keep your current vehicle, would be to look into one of the SUV tent attachments that gives you some living space outside.

They are pretty nifty and not that expensive, can be left stationary to drive your vehicle around if you wish.

You would be relegated more to camping than stealth in a town, but depends on what you want to do.

I seriously considered one of these at one point, but passed on it because of my dog.  I have seen them in use, and watched a video showing the ease of one being set up. 

If you sell your HRV, you will likely lose money on that, then sell what you travel in, losing money on it, to then have to buy something else when you are ready to come in off the road.

Perhaps Google Honda HRV tent attachment and see what is available for your vehicle. 

This is one manufacturer

https://www.carid.com/honda-hr-v-te...146][1]=Tents&fitment_type[]=Vehicle+Specific

These were EXACTLY my thoughts on exchanging one mode of transportation for another. My HRV is a 2018 and may well be able to outlast me. I am not worried about stealth. The one thing about doing the tent is that I’m more vulnerable than I would be in a van, trailer, etc. But I suppose if I were feeling I needed to, I could detach the tent, close the hatch and sleep in the HRV.  

I think the smartest thing to do would be to invest in the tent and do some practice runs when the weather warms up.

 

[WanderingRose]

You are more vulnerable in a tent, but the truth is it is really a very safe country out there.

Pay attention to your antennae, and use reasonable precautions. You can run into a whacked out person anywhere, including the parking lot of your favorite grocery store.

I traveled 6+ years with my husband, and am approaching 6 by myself, and never an incident.

Good luck!

 

[highdesertranger]

sorry, yes I meant after you have it all set up and then want to go somewhere in the vehicle. when you come back you have to get the vehicle pretty much in the same spot. however this varies on the type of tent, some are very tight and you must get into the exact same place, but I have seen others that have lots of wiggle room.

I am not really worried about being more vulnerable in a tent, however in some areas you are restricted too hard sided campers only no tents. this is in areas with bear problems.

highdesertranger