Moderators, please DO NOT LOCK THIS THREAD before I get a clear answer. I have searched many older posts on this subject and none of the advice given in them is applicable now, because Hotmail/Outlook has changed its account settings links and procedures. (See more below.)

I want to remove my old alternate email address because I closed that alternate account a few months ago. But how can I add a new alternate email address? Do I have to wait 30 days before I can add a new alternate email address?

In the account section, the page states:

You recently updated your security info

We have a waiting period for the updates to take effect. On (date 30 days from now), we'll delete your old security info:

(old alternate email address)

Once this is deleted, you'll be able to verify your account with info you have access to. If you didn't make the updates, or if you still have access to the above info, cancel the updates.
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What does it mean? Does it mean that I can or cannot verify my account (if necessary) during the 30 day waiting period? Or that I can verify it only with the old alternate email address? (And that will not work, because the account has been deleted.) Or that I can verify it now, and anytime during the 30 days and afterwards, with a mobile phone number that I can add now? Or with a new alternate email address that I can add now (before the 30 day waiting period is completed)?

I seem to have gotten my phone number added, but I'm not sure. But now I cannot add a new alternate email. Will I be able to add an alternate email after the 30 day waiting period (when the old alternate email gets removed)?

What happens during the 30-day waiting period? If a person cannot access their account and needs a password reset, where does the reset security code get sent to? Does it get send to the deleted/defunct alternate email address? Some email services, such as Outlook, make deleted addresses available to other people 30 days after an account has been closed. And if the account was closed more than 30 days ago, then the security code is going to that previously closed address that someone else might be using now as a new account! Do you see the problem of having to wait 30 days to change the alternate email address?

On some older posts (6 months or older), moderators gave various people the following advice.
However, the following procedure is no longer possible because the links have been changed and renamed.

1. Sign in here (https://account.live.com/) using your Windows Live ID and password.
 2. Locate the Account Security section, and then click Manage beside Security Info.

3. Click Delete after Mobile phone/Alternate email address.
 4. Click Mark them all for removal to continue.
 5. Click Mark for removal.