14 Comments

I write often about Social Security and Medicare for a variety of companies -- mostly. The complexity of both programs is absurd. People can't help but make bad choices.

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Thanks Larry for keeping the fight going, it is dishonest and wrong what SSA continues to do.

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This is the third of a 4-part series on Everything You Need to Know About Social Security But Are Afraid to Ask. Go to https://davidlsmith.substack.com/ to read the three in order:

1. Will Seniors receive their Social Security checks if Congress fails to raise the debt ceiling?

2. What’s the matter with Social Security? The Great Deception and its consequences.

3. How did Social Security get into this predicament? Should we be worried?

In the third installment, I take on Paul Krugman for misleading his readers, reassuring them there’s no reason to panic about Social Security’s financial condition (there is), and for alleging Social Security Is not a Ponzi scheme (it is).

If interested (and you should be), click on the link above to read them in sequence. Please subscribe, if you haven’t already (it’s free), leave a comment, good, bad, or indifferent (it helps), and/or forward this e-mail to someone who might benefit from reading it.

The fourth part will be forthcoming soon, and I guarantee it will be a shocker. Stay tuned.

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Larry - What if the widow is 60 when she considers collecting survivor benefit. If SSA asks her the dangerous question of "applying for all available benefits" would that not ONLY be the survivor benefit? Since she is not 62 her retirement benefit is NOT "available to her." Correct? Thus, if she elects the survivor benefit at her age of 60 her retirement benefit remains 'un-taken' and would accrue Delayed Retirement Credit after her full retirement age. Is that correct? Is there some mysterious SSA trick where a survivor benefit started at age 60 would some how morph into a retirement benefit when the recipient turned age 62? What's your take on such a scenario. Thanks, and I really appreciate your good work. - Chris

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Hi Larry, You mention your company's software program Maximize My Social Security. I'm thinking social security can be maximized the same way in your company's Maxifi retirement planning software, do I have that right?

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I think you and John have misread the letter to the president. The letter states (second to last paragraph) that SSA provided a detailed plan (presumably written) for repaying the victims. The footnote you cite as SSA's only written response to this problem refers to SSA's reply to a PREVIOUS request to take action and is included to emphasize that this time action will be taken. Or at least SSA says it will.

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Hi Dennis, No, we read it correctly. The letter is about a different scam SS was running. The footnote is about the scam I wrote about. And it indicates what I said. Cheers and thanks for reaching out. Please keep in touch. best, Larry

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The other case involves "Benefits Payable to Widow(er)s Subject to Government Pension Offset Had They Delayed Their Application." Social Security DID say they would fix those victims, but it truth they are only "giving" them 6 months retroactive payments, not the years, or decades, they may have been cheated out of.

You can see the details here:

https://osc.gov/Documents/Public%20Files/FY21/DI-19-0626/Audit%20report%20OSC%20File%20Number%20DI-19-00626%28002%29%20%28004%29.pdf

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Will double check on this. Thanks, Dennis. best, Larry

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Hi Larry,

I actually paid $50 to subscribe but the app keeps saying I’m a free subscriber.

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Will fix right now. best, Larry

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At the end of March 2020 I applied to receive my SS. Due to Covid-19 I had just retired and was 4 months away from turning 70 years old. I was offered repeatedly to take it right away with a six months retroactive payment. I felt uncomfortable with the proposal as 4 months I would be getting the maximum I could and I said so. So I asked for what would be the “new amount” I would get for the rest of my life and asked to reflect on it and made a appointment for a week later. Of course you know this it was benefiting SS not me. A year later it was my husband’s turn and I forewarned him about the possibility of that tactic but the employee didn’t make any such suggestion…..

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Hi Francois, This is another of the scams I discussed in Money Magic. My dentist got hit by it. I told top officials at SSA they needed to end the practice. It sounds like they haven't so far. I will check with them again. best, Larry

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May 29, 2022
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Yes, this seems like intentional, widespread fraud. Keep fighting for your benefits. best, Larry

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