Pension Requirement Question

I'm not sure where you have gotten you information, but $1,500 minimum pension... 55 minimum collection age...

Here's a couple of links for you... better do some more research. https://www.ssa.gov/planners/retire/applying2.htmlhttps://www.ssa.gov/oact/progdata/tableForm.html

symo

Note that in this official page of the Cancillería of Ecuador, the minimum pension requirement for the Visa 9: I Rentista - Pensión del Exterior remains at $800/month plus $100/month for each additional dependent.  You can see this in paragraph 4 under Requisitos:

http://www.cancilleria.gob.ec/visa-9-i- … -exterior/

finster wrote:

Forgive me if this has been answered before, but I am wondering whether the $1500 minimum pension requirement has a specific date attached to it. In other words, I am 51 now. According to SSA, if I retire at the minimum collection age of 55, I would collect the $1500 min. requirement. However, should I retire now, that leaves at least 3 yrs. with which I am not collecting. In fact, my plan is to start SS at 62. So does the $1500 pension requirement need to be actively collected or can it be a future guaranteed amount? Hopefully this makes sense. Thanks.

Since you have $100,000 in an IRA, perhaps you could look into investing $25,000 of those funds in Ecuador to get an investor visa.  They don't care about future revenues, you need to show at least $800 in guaranteed current income per month plus $100 per dependent.  The good news is the dogs are not considered dependents.

mugtech wrote:

finster wrote:

Forgive me if this has been answered before, but I am wondering whether the $1500 minimum pension requirement has a specific date attached to it. In other words, I am 51 now. According to SSA, if I retire at the minimum collection age of 55, I would collect the $1500 min. requirement. However, should I retire now, that leaves at least 3 yrs. with which I am not collecting. In fact, my plan is to start SS at 62. So does the $1500 pension requirement need to be actively collected or can it be a future guaranteed amount? Hopefully this makes sense. Thanks.

Since you have $100,000 in an IRA, perhaps you could look into investing $25,000 of those funds in Ecuador to get an investor visa.  They don't care about future revenues, you need to show at least $800 in guaranteed current income per month plus $100 per dependent.  The good news is the dogs are not considered dependents.

And since it is a Roth IRA the tax consequences would be minimal or you could sell your house and invest $25,000 from the proceeds.

My mistake. Somehow I had $1500 on my mind but it is in fact $800. I think the $1500 came from a recent inquiry into the cost of living for a couple. Thanks for the clarification!