Home Forums Hunting & Shooting Hunter's Campfire S.S. statements?

Cute meme, Marxist- from where did you steal it, The Huffington Pist?

We all know Trump promised things he has not/ cannot deliver. Have you ever known a politician to whom this did not apply? How many lies did your messiah, Barack Insane Obama tell over the course of just one year? 8 years? How many lies has that evil k u n t Hillary muttered? What about all the sideline players like Wasserman- Schultz, Louis Farrakan, Rachel Maddow, or Joe Scaraborough? Are you keeping tabs on their dishonesty? Were you ever keeping tab? NO. Because their lies don't count, or if so- they are innocent little lambs in your world. Simply put, if it doesn't fit your communist agenda, ignore. If it does mesh with the agenda, SHOUT IT FROM THE ROOF TOPS!

Islander,
I may begin pulling at 62, hope I can avoid that scenario. But I cannot connect the dots using your reasoning.
A) one gets double the dollars at 70 vs. 62 yr. old...So that's a double right.
B) you get your monthly check, the next year that total s/s received was prior to 2018 was added to your reportable annual federal taxable income to determine your personal tax rate. So let's use a 10% clip because of taxes. Average inflation for past 8 yrs. has been 2.2%.
C) so you had to more than double your money after taxes, if any were due.
D) show me a moderate investment, moderate because of your age. If you have wealth, you certainly would not have pulled s/s early, because of taxes, and you were guaranteed a 10% annual rate of return while waiting for age 70 with 0 tax liability, and if married your wife would have received most of your benefit if you died.
E) show me


.[/quote]
Smart person. Been doing that for 8 years and money in my pocket rather than the government. My investments will certainly offset and outperform the full SS retirement. [/quote]

Not being ugly, wanting to learn. I'm 57.

Islander,
I may begin pulling at 62, hope I can avoid that scenario. But I cannot connect the dots using your reasoning.
A) one gets double the dollars at 70 vs. 62 yr. old...So that's a double right.
B) you get your monthly check, the next year that total s/s received was prior to 2018 was added to your reportable annual federal taxable income to determine your personal tax rate. So let's use a 10% clip because of taxes. Average inflation for past 8 yrs. has been 2.2%.
C) so you had to more than double your money after taxes, if any were due.
D) show me a moderate investment, moderate because of your age. If you have wealth, you certainly would not have pulled s/s early, because of taxes, and you were guaranteed a 10% annual rate of return while waiting for age 70 with 0 tax liability, and if married your wife would have received most of your benefit if you died.
E) show me


.[/quote]
Smart person. Been doing that for 8 years and money in my pocket rather than the government. My investments will certainly offset and outperform the full SS retirement. [/quote]

Not being ugly, wanting to learn. I'm 57.

I began withdrawing my SS at 62 simply because I knew I was still alive then, I did not know if I would still be alive at 70. In my case it was not a matter of needing the money at age 62 or even 70, it was because the money was there and I would rather have it in my bank account than the governments.

drover

I can see a LSDP video clip in the future possibly for this thread.
Bill is getting ready to dance.

Have you actually checked your figures? I just checked mine and at 62 I'll get $1383 a month and at 70 it's $2433. That's nowhere near double. Also, you'll also be paying into SS for those extra years. Look up the Rule of 72. Also, how long will it take to make up for all the money that you're collecting between 62 and 70.

If you intend to keep on working after age 62 you’d be well advised to run it past your CPA to estimate your possible tax load. Jus sayin. Also be damned sure to check out the many options for taking it. There’s a few here at The Campfire who were pissin iand moaning about surprises they hadn’t considered. Now it’s too late for them.

https://money.usnews.com/money/blog...hats-your-social-security-break-even-age


Check this out.

I don’t recall the exact details but when the old man retired a couple years ago, I remember dad mentioning his CPA said a lot of what you get is determined on your last 5 years of income? Not sure...

Retired at 61, started SS at 66.
Figured I’d get it while the getting is good.
I expect it to eventually become means tested, so those that worked hard for many years and managed their finances will be told, “ you don’t need it, or you don’t need that much” and theirs will get reduced and those that didn’t work hard and for a long period will get theirs increased. It’s called redistribution of wealth.

Dale, if and when the Democrats regain control you can book means testing AND windfall profits tax on retirement accounts will happen. Two CPAs told me this and Pelosi has called for it in Congress.

I started taking SS at 65.5. My accountant did an analysis for me and said that my break even would be 81 years old. I decided to enjoy the extra money now while I have some mobility. There's another thread out there talking about aging, but for here I can tell all you 40 and 50 somethings that you will be shocked by how fast you change from 60 to 65 and then from 65 to 70 is just mean. So why wait until 70 when it will take you another 11 years to start losing money. I may not even be alive at that time. So my suggestion would be to do you own break even analysis to see when it is best for you.

Hiker,
I never stated I would continue working, I'm very familiar with rule of 72.
In my mind, $2766 vs $ 2433 is a rounding error and is in fact close to a double. On your best day/year I'll bet you dinner at a nice restaurant with drinks, you can't duplicate that rate of return in a moderate risk level with is suitable for 95% of this country over a 8 year period. And I take zero risk to get my return. So you take your check, invest it even 60/40, after taxes & fees I'll beat you over 90% of the time. And I'm going back to 1900, you'll have 11 full decades to make your magic. I'll be waiting.

Hiker,
I never stated I would continue working, I'm very familiar with rule of 72.
In my mind, $2766 vs $ 2433 is a rounding error and is in fact close to a double. On your best day/year I'll bet you dinner at a nice restaurant with drinks, you can't duplicate that rate of return in a moderate risk level with is suitable for 95% of this country over a 8 year period. And I take zero risk to get my return. So you take your check, invest it even 60/40, after taxes & fees I'll beat you over 90% of the time. And I'm going back to 1900, you'll have 11 full decades to make your magic. I'll be waiting.

Ray,
As usual you have a level headed answer, there is definitely a best strategy for everyone and deserves to be vetted throughly. Most cities have multiple events held annually for the citizens to meet face to face with a qualified person to go over the options. If any Campfire members use BlackRock or most major fund Company's have a white paper on the subject and several have calculator's specifically for the calculation. Hope all is well with your family.

Sharecropper, have you been reading about they'll have to start cutting benefits in the next 15 years? That will have a great effect on distributions. BTW, I'm currently at 70/30 and plan to stay that way for the foreseeable future. BTW #2-why do you have so many double posts. BTW #3 That is much more than a rounding error. But, you do it your way and I'll do it mine. My wife and I will be living on a six figure retirement.

LOL, another reason I've never banked/relied on it as part of my retirement plan, may not even sign up for the chitt when the time comes.

Or sign up for it and have it sent monthly to St. Judes.

Gunner: sign up for it!

I don't care if you get a statement or not...after all the money the Govt. has taken from you its almost a shock to see them sending YOU money...


But shocked in a GOOD way...

10-foe 'Gwe. I'll just have em send it to Jude.

I’m taking mine next March at 66. I might work another year, maybe?