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Joined: Apr 2011
Posts: 152,388 Likes: 44
Campfire Savant
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Campfire Savant
Joined: Apr 2011
Posts: 152,388 Likes: 44 |
I waited until 66 ( my full retirement age) I’m still working at 68. That extra money every month is nice. Mine is only 1650.00, but pays Medicare plus my Medicare penalty and our property taxes. What’s left will go towards the extra tax we will have to pay April 15.
My Medicare costs me double because we make too much.
Last edited by hanco; 03/25/21.
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Joined: Dec 2015
Posts: 5,559 Likes: 6
Campfire Tracker
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Campfire Tracker
Joined: Dec 2015
Posts: 5,559 Likes: 6 |
The average Social Security payment is roughly $1500/month, the Government is going to replace that with $5K/month? My father worked for the US Army/DOD under the "old" retirement system where you didn't pay into SS and you did not draw SS. He worked there for 27 years plus 2 years in the military. Prior to working for the DOD he worked for years (69 SS quarters) in private industry paying full SS. When he went to collect SS they reduced it by 66% because of the DOD pension offset. He bitched about it for years and I'm betting up in Heaven he's still bitching about it! He should have drawn full SS because he worked for it and paid into it. SS and his Congressmen told him sorry, but tough chit!
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Joined: Jan 2006
Posts: 69,527 Likes: 24
Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2006
Posts: 69,527 Likes: 24 |
My SS will be penisalized when I retire because I have another pension, won’t be surprised if it’s all taken. It sounds to me like you're talking about the penalty if you retire before 66. They limit your ss by how much you make. When you turn 66, the penalty disappears and you can earn as much as you can without penalty.
“In a time of deceit telling the truth is a revolutionary act.”
― George Orwell
It's not over when you lose. It's over when you quit.
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Joined: Sep 2011
Posts: 45,448 Likes: 28
Campfire 'Bwana
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Campfire 'Bwana
Joined: Sep 2011
Posts: 45,448 Likes: 28 |
I’ve been getting mine for two years. I pretend im a welfare recipient I'm with ya, hanco. I think it will eventually be completely stolen, at gunpoint. Payroll taxes are all essentially stolen at gunpoint, else we wouldn't be 25 gorillian in debt and still printing. The gunpoint end should be at the other end at this stage, but getting ripped off 20 times and getting paid back with inflated currency sure makes everything taste better. It's not like anyone is serious about paying anything back, down or sideways, so why the taxes? Just print money... One method that the government uses is to offer SS at 62 years old. They save 25%. This is done while delaying eligibility to 67 years old. All this is going on while people are dying. The combination of all these programs saves them a lot of money. Had I known the situation would turn into the dumpster fire it is today, I would have taken mine at 62. I told my brother who is 60, get it the second you turn 62. He's in the process of retiring now, anyway. I have re-visited the decision many times. For me it comes down to future cash flow, with health coming in a close second. The younger people with no pension who have to waite to 67 is a more difficult decision. My brother's got plenty of dough. Advice was more along the line of get it while you can before these communists rewrite the rules and redistribute what he's paid in for the last 50 years. He too has worked his ass off all his life. He'll be up rubbing elbows with slum and rene soon. That'll be a picture.  My heart goes out to your bro dirt. Maybe slummy can spare him some of Nana's beans and rene can get him a pass to the CiCi's.
The desert is a true treasure for him who seeks refuge from men and the evil of men.
In it is contentment
In it is death and all you seek
(Quoted from "The Bleeding of the Stone" Ibrahim Al-Koni)
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