Sunday, February 12, 2012

I receive a Military Retirement Check monthly. How will this effect my Soc Sec If I start collecting at 62 ?

My Military Retirement is $1800 per month. Will this effect the amount I will receive from Soc Sec If I start collecting Soc Sec at age 62 ?I receive a Military Retirement Check monthly. How will this effect my Soc Sec If I start collecting at 62 ?Not a chance, trooper.



Like you, I received my DFAS check, then the SS check. No change in the amount.



We can both receive each check (into two different banks) so that we will have no difficulties even if the government closes one of the two banks down.



By separating the checks, and separating the banks, you add security to your income.





Safety is important to us. Especially now.





For what it is worth, please consider having the smaller check go into a smaller bank. You have locally owned banks near you, I trust. So, let the bankers who can make local decisions have one of your checks.



The larger check, should you desire, can go into a corporate bank like Wells Fargo, Bank of America, Citibank (YIKES), Washington Mutual, or another giant bank that makes decisions based on CPAs, not on Character.



Remember the military? Proper prior planning prevents pathetically poor performance.I receive a Military Retirement Check monthly. How will this effect my Soc Sec If I start collecting at 62 ?No. Your Social Security entitlement is based on your Social Security earnings record and is not affected by other pensions. It could be affected if you are drawing Social Security and also have earned income above a certain level, but pension income is not earned income.

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