Congratulation Kel. Would the SS check raise your Obamacare premium though?
My in-laws said they would not withdraw SS when they reach SS because they do not want to mess up their monthly Obamacare premium, right now they only chose a Silver plan and received enough subsidy that they only paid $1.60 per month for two people. Each receive a monthly pension and both are retired.
wisejman, that must be a very small pension to have their premiums be subsidized to the extent they only pay $1.60. I think your gross income would have to be close to $25,000 for that to happen for a married couple with no kids.
keltus, congrats on receiving the extra income. I still got 30 years myself, so it's kind of a pipe dream to me right now, LOL. To be sure though, I think plenty of people are still toiling away at their jobs while also receiving SS. They just got too many bills to pay and debt to service to have the luxury of retiring before they turn 100.
I've already figured the SS into my 2014 income estimate. The SS mainly replaces funds I was withdrawing from my IRA account, which also goes into the Obamacare income equation, so it was basically a wash. Hopefully, I can avoid taking funds from my IRA now. Should be OK, except for unusual things that pop up when least expected. Also have my regular account funds and income to fall back on.