Social Security and CF, "Early Retirement"??

[65rosessamurai]

I was just on the net, and noticed an article regarding 'early social security benefit clams, vs. social security claims after full retirement', and it got me wondering, should I try and get "What's left" of my social security and save it on my own, or "let it ride"? I'm currently in good health, able to hold down a regular job, and don't foresee health complications coming within another 10 years time. Even though I'm going on 41, I look forward to seeing at least a fairly healthy 70! (A good goal for any CF'r who wants to beat the odds!)
However, since living in Japan, all the U.S. benefits had stopped accumulating 13 years ago, and despite working from age 17, I don't know how much I have already paid into. It's less a guarantee that I'll be able to return to the states, than to pass away before my retirement age, though I'd like to see both of those happen in my life.
My previous job in Japan was over 10 years, so I'm entitled to some benefits from the company related to retirement, but I can't be spending all of that before my retirement days (though I am gonna stick my hand in the cookie jar cause it's a big jar!).
Receiving that retirement fund from my former company, and the article I just saw, came to mind as to how my lifespan compares to my benefits, and how the Social Security Infrastructure has been so "unstable" since I can recall. More uncertain, is actually what my situation will be when I DO return to the states, and how all my benefits that were paid to the Japanese Government will be reimbursed! (a concern to deal with when the time comes)
I'm not sure how other adults with CF have considered this, especially the one's who are the "bread winners", so I thought I'd bring this subject across to see what sort of feedback I can get.

 

[cdale613]

My understanding of Social Security is somewhat limited... but here's my understanding of it:

You can't take "early social security" until you have reached some minimum age... I think it is 62. You receive much less than if you waited until turning 65, when you get "full social security".

The other options for people with CF all involve SSDI/SSI, (yes, same acronym, different meaning = very confusing) - which is Social Security Disability Insurance/ Supplemental Security Income. Inorder to qualify for this you have to go through the process of being deemed disabled, which even for people with CF, can be a nightmarish challenge. The amount of benefits varies... if you were never able to work, you receive a pretty small amount; if you were able to contribute to the SSI system for some years, benefits are prorated to your past contributions. I don't know what they would make of your time overseas...

Anyway, hope that helps a little. If you plan on living well into your 70's, and like your job, you do much better waiting the extra three years.

Chris

25 w/CF

 

[JustDucky]

I get SSDI benefits, I am 34 now have gotten them for over two years now, get medicare A and B as well as that lovely part D that has confused many people...that was at a time when my PFT's were horrible and I was on O2 and BiPAP alot, not to mention being diagnosed with a degenerative neuromuscular disease. This was all determined prior to my CF diagnosis. What Chris said about early retirement is accurate...you can choose to get SS at 62 but with less monies each month and no medicare until 65 I believe...correct me if I am wrong. Some companies, however, if you have worked with them long enough, say for 20 years or more, offer early retirement at an even earlier age, but with their benefits, not social security's.

Chris is also right about the disability social security benefits, it can be hell to get, luckily I was found unable to work (I was an ICU nurse prior to my disability, lots of running) fairly quicklly, all they had to do really is look at my labs....they sucked. Some of my friends that I chat with have and are still going through their battles with disbability, some have been denied three times, and with each denial there is a different level you take your case to. SSI is a little different than SSDI in that it depends on what you make, is more state funded..it is a supplemental income.

I am not sure how your work and contributions in Japan will translate into US benefits once you get into the states, you ask a very good question. Since you are feeling relatively healthy, I suspect you will be working and resuming social security contributions, but like I said, not sure of what part of your Japanese earnings will be counted towards retirement.....

I hope I haven't been too confusing...I am by no means an expert with retirement and such, but if I find anything, I will be most happy to post it for you. I will ask around and google a bit...Jenn <img src="i/expressions/face-icon-small-smile.gif" border="0">

 

[65rosessamurai]

Thanks, Chris and Jenn, that was very <img src="i/expressions/face-icon-small-confused.gif" border="0">-ing!
Just kidding, it was quite clear, and even gave me newer information, I didn't know about the SSDI and SSI, so it may be worth checking out when I end up disabled after moving to the states. Also, my wife may NOT be able to work in the states without a proper visa status, so that factor will have to be taken in account.
This does mean I will have to do some research on the Japanese Laws regarding Social Security benefits to foreigners. What I already found out is that I have to claim within a two year period of my return to the states for benefits paid to the Japanese SS. However, what I'm not sure of is whether they give 100% reimbursement, or only partial. I have put 13 years of my income on Excel, and am able to easily estimate anything except my tax returns at the end of the year (I didn't know until this year, they were never including it in the last paycheck, they were adding it seperate! So, the ex-wife was getting all my tax return benefits, too!! (B****!):evil<img src="i/expressions/face-icon-small-wink.gif" border="0">
Anyway, (straying from the point) depending on circumstances at 62, I may take the retirement, and work "freelance" or part time (this also depends on my job at that time) so I have something to do, and maybe to enhance my income.
The scary thing is "if my health depletes while in Japan, what are we gonna do" thought comes up, and the project for moving to the states would be difficult if we never got our preparations made. (we'll call this project, Preparation 'H'!) <img src="i/expressions/face-icon-small-wink.gif" border="0">

 

[julie]

Fred, if/when you do come and need to consider SSDI/SSI I'm here to help.

You are a citizen right? Your wife would still have to get a visa/permit to work. Your citizenship may help speed up her application but she will still have to do that. At this point though, our wonderful president is all for Work visas (I'm for it too for all the right people) so it might be worth looking into sooner than not if you are seriously considering a move.

 

[julie]

Fred, if/when you do come and need to consider SSDI/SSI I'm here to help.

You are a citizen right? Your wife would still have to get a visa/permit to work. Your citizenship may help speed up her application but she will still have to do that. At this point though, our wonderful president is all for Work visas (I'm for it too for all the right people) so it might be worth looking into sooner than not if you are seriously considering a move.