On Sat, 7 Mar 2009 11:14:37 -0600, sandybeth <sandyhb6[at]yahoo.comwrote:

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I guess you would have to know how long you will live to answer this
question.
Thumper

On Mar 7, 12:14*pm, sandybeth <sandy...[at]yahoo.com> wrote:
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I believe the government pension guarantee covers up to 50k a year (I
don't know if you already counted that).

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Not to change your plans, but if it makes your day any brighter, it is
people like you and your hubby that will pull this country and economy
back out of the mess. I had a secure retirement, too, but zero
interest rates and dividend cutting are putting a lot of retirees at
risk. This massive sell-off in the market is becoming increasingly
insane, as is the flight to T-Bills - perhaps that's a silver lining.

sandybeth <sandyhb6[at]yahoo.com> wrote:

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I'd get the job first. Then look at what how much I'd be earning. If I were
returning much of my SS, I'd withdraw the application and repay them my benefits
so far. -- Doug

Now that our assets are down 50% and nothing but doom & gloom
predicted on the horizon, I am considering re-entering the job market
at the age of 62. I'm currently retired & collecting social
security. If General Motors goes bankrupt, there will be more
bloodshed for us (hubby& I), so things don't look good for our
future. I have contacted SS and have found out that I can repay what
I've collected so far (4 months) so that I won't have to pay the
penalty of $1 for every $2 earned above $14160 (that is, if I go back
to work and earn more).
It would not be worth it for my hubby to re-enter the job market since
he is older and would have to pay back far too much SS.
Has anyone out there done this and at what point is it worth it to
repay SS? Assuming that I am LUCKY enough to find a part-time job at
my ripe age, earning $20,000 for example, I would have to payback SS
$2920 (half of the amount above 14160) if I didn't repay the SS that I
have gotten so far. Then again, if I repaid SS what I have collected
thus far, when I finally do reapply, I will be getting more SS per
month.
Darn, I hate this dilemma. We saved all our lives and thought our
retirement was secure. Now we are walking on eggshells.
Sandy