Morgana
Well-known member
- Joined
- Mar 18, 2021
- Messages
- 1,600
- Reaction score
- 1,882
Yeah but imagine, you could work on your own projects instead...I feel if I stop working so much my health will decline lol.
Yeah but imagine, you could work on your own projects instead...I feel if I stop working so much my health will decline lol.
And they say "Men never grow up!"Do you really believe “you put into it”? To me the gov is taking it from workers for their “future benefit”……..
I dont have a problem with it, tho, because most people cant take care of themselves - they are lifelong babies; children at best.
I also never got sucked into the 401 80’s scam either.
jonny boi takin care of hisself.
(a) me tooIt’s harder for me to get up and get going on my own projects unless I make an appointment with a freind or am required to be somewhere, almost like work!
Thanks very much for this. I was gonna go into a long(-ish) post about this "insolvency" nonsense, but your explanation was clear and succinct. Besides, when the gov't "borrows" from the SS trust fund, the fund essentially purchases a gov't bond. Just like you or I can buy. If U.S. gov't bonds become "no good," then we have much worse problems than reduced SS benefits.That is not insolvency.
<snip>
That's why I waited untiI I turned 69 to claim my SS benefits. Now I can make "69" jokes for the rest of my life!!Social Security’s ‘biggest myth’ leads people to claim early, expert says. Even a slight delay can boost retirement income
https://www.cnbc.com/2024/05/19/del...-security.html?utm_source=pocket-newtab-en-us
Nice 😀That's why I waited untiI I turned 69 to claim my SS benefits. Now I can make "69" jokes for the rest of my life!!
Technically SS is already insolvent. Congress has counted the trust fund as part of the federal budget since the mid 1960s. It's basically a ponzy scheme. If any business practiced such accounting principles, they would be prosecuted by the government.We I am about 11 years from retirement. I know it seems kinda far away. I would like to know what is your plan if / when they cut down the payments by 17%.
Retirees will only receive 83% of their full benefits.
I know some solely depend on SS and others have multiple retirement incomes which probably will not affect you as much. But still a 17% pay cut is huge.
About 25 percent of the federal budget is a category called "Other" It is larger than the defense budget; about $1.5 TRILLION/ year. We the American public deserve to know what this money is spent on.Thanks very much for this. I was gonna go into a long(-ish) post about this "insolvency" nonsense, but your explanation was clear and succinct. Besides, when the gov't "borrows" from the SS trust fund, the fund essentially purchases a gov't bond. Just like you or I can buy. If U.S. gov't bonds become "no good," then we have much worse problems than reduced SS benefits.
The best way to make sure Social Security is well-funded is, IMHO, two fold:
- Reduce Federal spending that requires the gov't to borrow. Our Defense budget is hugely out of line, and we can easily go with fewer carrier battlegroups in the Navy for instance. And more importantly,...
- Increase revenue. The FICA cap hasn't been raised meaningfully in ages. The very wealthy can afford to pay FICA on all their income as far as I'm concerned. Also, capital gains above certain amounts should be considered income subject to FICA as well ("above certain amts" so as not to penalize the avg person who is investing to help fund their own retirement, save for a house, etc...)
Having anything left in the account when you die go back to "the government" pisses me off. Everything else I have goes to my kids. Nothing wrong with what you did but it sounds like triple dipping with pensions from the army, USPS, and SS. Play by their rules when you can.I actually do believe that the government will take of me. What that care will look like is always changing as the politicians change. I have worked for the federal government for over 40 years, having served in the Army and USPS. I have managed my retirement funds over years and I have a nice little nest egg. We have 7 streams of retirement income, not counting any retirement funds (thrift savings, 401k, and such). This allows our retirement funds to grow without having to withdraw them yet. My wife and I both choose to draw SS at 62. Its harder to do away with SS when you are in fact drawing it already. I know you get more if you wait, but the government is banking on you waiting and then dying early. When you die....any future SS funds die with you. They can't be inhereted by your family. Yes there is spousal benefit, but the spouse forfiets their SS. So I say take what you can, when you can.
If you are "retired" you aren't working so that doesn't matterI get that. I wish I could withdraw @ 62. But full retirement age for me is 67. However, then your limited how much you can make per year. You can only make $22,320/year ($1,860/month). That is ridiculously low.
But full retirement age for me is 67. However, then your limited how much you can make per year. You can only make $22,320/year ($1,860/month). That is ridiculously low.
Ahhh cool. I want to keep working in some capacity. I can work 6mo, 9mo, or year round where I'm at. However I have been here quite a while and tired of the same old grind.There is actually a formula for allowable income you can earn before FRA (full retirement age) and yes if your income is too high, then they will withhold some (or possibly all) of your SS benefits.
But the money is not lost. It is 'credited' back to your account.
Assuming you are still alive at FRA, then that money that was withheld will be added back into your remaining benefits.
View attachment 35692
Source:
https://www.ssa.gov/pubs/EN-05-10069.pdf
Not that they are great to work for but you may want to take a look at Aramark for jobs in locations you may want to see and usually a full hookup site or cheap substandard housing is available. They hire lots of kitchen and restaurant staff on a seasonal basis.Ahhh cool. I want to keep working in some capacity. I can work 6mo, 9mo, or year round where I'm at. However I have been here quite a while and tired of the same old grind.
I really just want to camp host in a few years and work 6 months a year.
Cool beans. I will check them out.Not that they are great to work for but you may want to take a look at Aramark for jobs in locations you may want to see and usually a full hookup site or cheap substandard housing is available. They hire lots of kitchen and restaurant staff on a seasonal basis.
This claim is interesting; I'll certainly encourage my twin 2-yead old granddaughters to get jobs!! But can you give a reference in support of this claim? I cannot say if the claim is true or false but I know that the 2024 tax year might (MIGHT) be the first year in 50 years that I didn't pay income tax.The biggest problem we all have is almost 50% do not pay taxes, including SS. This will all work out perfectly until we run out of other peoples money!!
The biggest problem we all have is almost 50% do not pay taxes, including SS.
Enter your email address to join: