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Old 10-17-2016, 12:54 PM
 
71,490 posts, read 71,652,652 times
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Quote:
Originally Posted by nicet4 View Post
All you say is true of course but if I elected to take benefits at my FRA while still working I would lose 25% of 85% of my benefits to federal income taxes.

What I did was figure what taxes I would have paid on my benefits and it had the effect of moving my break even point several years ahead.

Down the road I will probably pay taxes anyway because it is hard for me to envision actual quitting work. Maybe go part time but actually quitting? No, that I don't see yet.

Also, my wife is collecting her full spousal benefits having turned 66 in April just before they ended the file and suspend. We got real lucky by about a week.
no matter how you slice it is not an 8% return . it is only an 8% increase since working or not , taxes do not make the roi different , they only let you keep more or less of what you get .

here is an actual roi chart

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Old 10-17-2016, 01:31 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,540 posts, read 39,914,033 times
Reputation: 23653
Cash flows are very helpful and becoming much more important (infinite HC and property tax increases during 50 yrs of 'no wage income')

Any retirees here own 'Fully managed' businesses or franchises?
Farms and Ranches (fully managed)

I have a few friends that own storage buildings (as a group), and several that passively fund their kid's businesses. (+/-)

Some franchises seem to lend themselves to very little attention from investors. (others not so!)

As we age, our 'personal / physical' contribution to income efforts best decline. (As evidenced my 3 in our family that went into LTC near age 50...) they were all 'SOLO entrepreneurs', when they weren't there, things didn't happen. Very bad plan.
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Old 10-17-2016, 02:41 PM
 
Location: Forests of Maine
30,677 posts, read 49,423,020 times
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Quote:
Originally Posted by Perryinva View Post
ONLY if you don't ALREADY have an appreciable taxable income. Once your AGI is something over 100k you get nothing for depreciation. I bought rental property and it's netted me nada while working. I MAY get some of the depreciation once I retire in 3 years
Yes, that is right, I had not thought of depreciation, but yes you can also use the depreciation to add to the benefit.
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Old 10-17-2016, 03:11 PM
 
Location: Seattle/Dahlonega
547 posts, read 388,030 times
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So from what I am reading from this thread, if I retire and draw income from a pension and an annuity that exceeds 15,000, I can't take SS at 62 without getting penalized?
Please tell me that's not true.
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Old 10-17-2016, 03:15 PM
 
71,490 posts, read 71,652,652 times
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nooooooo , if under fra you cannot have earned income higher than 15k or so .if you do you start to give some back . limits are higher the year before you are fra .

earned income is working income
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Old 10-17-2016, 03:50 PM
 
Location: Central Massachusetts
4,800 posts, read 4,843,254 times
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Quote:
Originally Posted by hurricane harry View Post
So from what I am reading from this thread, if I retire and draw income from a pension and an annuity that exceeds 15,000, I can't take SS at 62 without getting penalized?
Please tell me that's not true.
What mathjak says it is earned income not passive income like pensions and annuity income.
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Old 10-17-2016, 06:49 PM
 
6,615 posts, read 3,738,816 times
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Dividend stocks
SS
A little extra money from personal endeavors (stock trading or part time work)
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Old 10-18-2016, 08:33 AM
 
Location: Greenville, SC
4,634 posts, read 3,696,178 times
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Quote:
Originally Posted by golfingduo View Post
First you take it early. If you are still working and take SS it will be reduced by 1 dollar for every two dollars earned over 15760.
That no longer applies once you reach full retirement age; after that you can work as many hours as you want with no reduction. See:

https://www.ssa.gov/planners/retire/whileworking.html
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Old 10-18-2016, 08:36 AM
 
71,490 posts, read 71,652,652 times
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he was referring to the op who is younger than fra
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Old 10-18-2016, 08:40 AM
 
512 posts, read 480,260 times
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If you do not have a spouse a single life annuity gives with a guaranteed COLA gives you the greatest piece of mind as its basically a private pension.

It takes a sizable lup sum and current interest rates are low but with 10+ years to pan you may be able to set one up now and lock in some benefits and annuity later when rates are higher. Or wait to do an immediate annuity then.

Annuities are not always the best option in the broad sense but for some specific instances they are great.
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