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Old 09-11-2019, 02:45 PM
 
Location: Las Vegas & San Diego
561 posts, read 96,000 times
Reputation: 486

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Quote:
Originally Posted by johngolf View Post
Liking/wanting to work is not the same as having to.
I liked my job Ok and was asked to continue, but it was just was not as fulfilling as it once was and had much more than needed to retire. Driven more by had enough money and wanted more time to do what I wanted.
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Old 09-11-2019, 03:57 PM
 
Location: Gilbert, AZ
3,324 posts, read 2,071,052 times
Reputation: 3529
Quote:
Originally Posted by SaraR. View Post
Just curious.

If the average Social Security Check is around $1300-$1500, what is so bad about working a p/t job along with SS??

[…]


Why can't someone work 20 hrs a week, have all their needs met, and feel retired?

Is 20-25 hrs that much work for those who are on SS only and want to add to it?
Nothing wrong with working part time, but here's the deal. The income from that job will go away at some point for many people... because of health problems, because they can no longer drive to their job, because nobody will hire them, etc.

If I were staring at a $1300 SS check as my fallback, I'd give it my best to continue working as long as I could and hold off on taking those checks so the benefit will increase.

Last edited by hikernut; 09-11-2019 at 04:51 PM..
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Old 09-11-2019, 05:49 PM
 
12,433 posts, read 15,474,709 times
Reputation: 8291
Quote:
Originally Posted by jrkliny View Post
That is sad. It seems you are at retirement age, have spent a lifetime working and gained no or few skills that are employable? What did you do for a lifetime of work that left you without any skills of interest to employers? Did you invest in your career, your education, your technical skills?

When I was late in my career, I had the most opportunities ever. Even after retirement I got unsolicited job offers. All were way, way beyond minimum wage.
You may have the skills but employers are no longer interested. How many times have you heard someone is "too old to be working?" quite a few, just because someone can do the job doesn't mean he or she will get hired.
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Old 09-11-2019, 06:55 PM
 
Location: Florida
4,571 posts, read 3,907,573 times
Reputation: 4427
Nothing wrong with working part time. Remember the SS set off if you are not at your full retirement age.
Even if you do not need the money working part time is a good way to stay active.
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Old 09-11-2019, 08:17 PM
 
193 posts, read 49,466 times
Reputation: 355
Quote:
Originally Posted by hikernut View Post
Nothing wrong with working part time, but here's the deal. The income from that job will go away at some point for many people... because of health problems, because they can no longer drive to their job, because nobody will hire them, etc.

If I were staring at a $1300 SS check as my fallback, I'd give it my best to continue working as long as I could and hold off on taking those checks so the benefit will increase.
I took $1000 SS at age 62. It's increased a little yes, due to working income, but when you take it that early, it never really increases much.
Due to the age difference between my husband and I, and his heath, financial planner said it's best I take SS at 62 & continue to work.


Generally you are correct. Income will go away at some point for most. Hence also why we want to keep fit having a hobby homestead & exercise regularly. Even if we were billionaires, I cannot see us living any different
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Old 09-11-2019, 10:03 PM
 
6,702 posts, read 5,353,391 times
Reputation: 13952
nothing at all
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Old 09-12-2019, 06:19 AM
 
Location: Central CT, sometimes NH.
3,548 posts, read 5,227,752 times
Reputation: 3666
I think continuing to work if you are able is really the only option if you are not ready for retirement. To do otherwise would force one into unnecessary hardship.
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Old 09-12-2019, 08:26 AM
 
Location: Living on the Coast in Oxnard CA
16,012 posts, read 27,211,830 times
Reputation: 20997
Quote:
Originally Posted by SaraR. View Post
Just curious.



"In the period, 1.4 million women filed for Social Security benefits, and their average award was $1,231.50. Men, however, were awarded $1,583.77, on average." for the year 2017
https://www.fool.com/retirement/2017...urity-che.aspx

Interesting how they say awarded. It is not something that you are blessed with for working. You paid into it and the amount you are getting is based on income that you earned.

The other comment that I have is with men getting more. Social Security is based on your 35 highest earning years. I know more women that leave the work force early then men. A year ago a woman that started the same time I started, "retired" from work. Her husband will need to keep working for the next 15 years. The reason she stopped working is the kids are all grown and their expenses have declined. Instead of building a better 35 year term to base her Social Security income on, she has stopped working and will rely on the earlier years when she made less. The fact also is that she has not worked 35 years. for the years she did not work she gets a big fat ZERO.

I plan on working another 20 to 25 years. If I work only 20 more years I will have 21 years where my income was over $100,000 a year. My wife plans on working another 17 years. When she turns 65 she wants to call it quits. I prefer to work until at least age 70 to get the maximum benefit. I bet that is another reason that men get more money on average.

If you retire early and file for Social Security you get less than if you wait until your full retirement age. If you wait until 70 or older you get 135% of your benefit. For me it makes sense to wait.

Last edited by SOON2BNSURPRISE; 09-12-2019 at 08:38 AM..
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Old 09-12-2019, 08:51 AM
 
Location: Living on the Coast in Oxnard CA
16,012 posts, read 27,211,830 times
Reputation: 20997
Quote:
Originally Posted by pvande55 View Post
You may have the skills but employers are no longer interested. How many times have you heard someone is "too old to be working?" quite a few, just because someone can do the job doesn't mean he or she will get hired.
Many people stay in a job that they have until late in life. That sure is my plan. We have employees that have been her from as long as 51 years on down. Many 40 year+ employees. I am not sure why someone would leave a job, retire, and then go and get a job.
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Old 09-14-2019, 10:00 AM
 
3,838 posts, read 2,936,434 times
Reputation: 4820
What bad? I have a friend who didn’t plan for retirement. Now he works as an account executive in an Apple store at age 70. And all his co-workers are in their 20’s.

Working with children all day is not very much fun.
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