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Mom wants to pay off home

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    #16
    maximize my Social Security

    Do take all the SS comments with a grain of salt, please. I am justing pointing info no one else has mentioned.
    Conventional wisdom is to take SS early. I am just saying without all the facts
    no one can say which is the better choice: taking SS early or waiting.

    Refinancing or paying off the mortgage is a good idea.

    So is maximizing one's SS benefits. Google
    maximize my social security.com/

    Free and generalized advice on this topic without pointing out the
    potential benefit of delaying SS.

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      #17
      All good comments and thoughts so I enjoy the exchange of experience and info.

      A couple more bits of info I have just learned are:

      Her LTC covers $171/day for in-home care & up to 75K/yr for facility based care (213/day). I think (hope) that should cover her costs pretty well for the next 15-20 yrs.

      I also just realized that even though she qualifies now for SS, she also qualifies for my father's amount (they divorced years ago but were married for 18 yrs) so I'm pretty sure it will be more than what she would earn, if that's the case then she could start using his this year. I'm waiting to hear back from my dad to find out exactly what his benefit level is

      Will go & google the maximise SS. We'll probably run all this by a cpa or tax consultant too before pulling a trigger.

      SB

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