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Old 06-05-2008, 07:21 AM
 
1,861 posts, read 3,026,962 times
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Quote:
Originally Posted by Kingsnkali View Post
I think most of us nearing retirement have taken a big hit on our home values and investments in the last few years. Many can't even sell their homes now. And inflation is now kicking into high gear with fuel and food costs skyrocketing. I would imagine that millions are now contemplating a delayed retirement.
You got that right. As the saying goes, "we make plans, and God laughs".

On this "earthplane", you can't count on anything whether it's someone dying, losing your health, losing your money, etc. etc. All you can do is live today, and plan for tomorrow the best you can - and take it year by year, changing plans as need be.

I'm not trying to be gloomy - just realistic. That's just the way things happen.

My aunt and uncle saved a lot of money for retirement (didn't have any children for college costs, house paid off, etc.), and my uncle got cancer, and died at 71, after a few years of horrible therapies. So, they never got to do what they planned. And, the family got the money, after she died.

A friend at work was going to retire and travel, and she got cancer, so those plans were nixed. I'm not sure how that all came out, but she had some pretty radical surgery on her jaw.

We do the best we can, and then give up any imagined control on the rest.
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Old 06-07-2008, 10:02 AM
 
48,516 posts, read 84,066,874 times
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The problem comes in with those that did not plan to retire but because of companies reducing work force have to take a early retirement. I saw that in the 70's recession and that's what really made me start planning early.I saw people go from the most secure job in the area to being retired early in their 50's. Once you get in 50's anyhting can happen in a poor econmy and you often are offered a deal before layoffs begin. Mid management and office workers are the first to go most often.
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Old 06-07-2008, 10:51 AM
 
Location: Oxygen Ln. AZ
9,321 posts, read 16,601,496 times
Reputation: 5692
This election!
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Old 06-07-2008, 11:42 AM
 
Location: West Virginia
12,453 posts, read 31,590,231 times
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At least those of you that Retire can collect SS & work & earn any amount you want. Try living off $650 of SSD each month ..then IF you are lucky to find a PT job to sub that you cant earn over $500 per month before taxes!! & What medical & Foo Stamp help you were getting they take!!
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Old 06-07-2008, 11:19 PM
 
48,516 posts, read 84,066,874 times
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If your talking social security disabilty is it higher than SS you get at 62. That sounds like someone didn't work very long under SS.My estimate from SS shows I would get like 300 more per month than SS at 62. I of course do not want to collect teh extra.My undersatnding also is to get disabiloty you can not be able to do any meaningful work to qualify.Then you can be reaccesed as to the disability.
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Old 06-08-2008, 10:46 AM
 
Location: West Virginia
12,453 posts, read 31,590,231 times
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I have known people that were retrained & went off Dissability....
But IF you take Disability & you reach retirement age You Can Not work & earn over $500 per month ever! IF you retire you can earn any amount.....
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Old 06-08-2008, 01:52 PM
 
Location: Knoxville, TN
2,172 posts, read 6,893,512 times
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Quote:
Originally Posted by Katie1 View Post
I have known people that were retrained & went off Dissability....
But IF you take Disability & you reach retirement age You Can Not work & earn over $500 per month ever! IF you retire you can earn any amount.....
That's not true for disability. It may be true for SSI.
Disability is basically early retirement, you get what you would have received if you retired at the regular age. I know, I'm on it.
And you can currently earn $800 a month without a problem. The amount increases every year.
When you reach regular retirement age, the disability becomes regular Social Security and you can earn any amount.
SSI, which is based on need, is entirely different.
SSDI is based on work history, just like regular social security.
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Old 06-09-2008, 12:42 AM
 
Location: West Virginia
12,453 posts, read 31,590,231 times
Reputation: 8157
I am on SSD! When I turn my reg retirement age I Can Not earn over the SSD set income. Where IF I had of made it to Retirement I could have earned Any amount.
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Old 06-09-2008, 04:08 AM
 
Location: Knoxville, TN
2,172 posts, read 6,893,512 times
Reputation: 1525
Quote:
Originally Posted by Katie1 View Post
I am on SSD! When I turn my reg retirement age I Can Not earn over the SSD set income. Where IF I had of made it to Retirement I could have earned Any amount.
From the Social Security Website:

When you reach full retirement age

If you are receiving Social Security disability benefits, your disability benefits automatically convert to retirement benefits, but the amount remains the same.

If you also receive a reduced widow(er)ís benefit, be sure to contact Social Security when you reach full retirement age so that we can make any necessary adjustment in your benefits.

NOTE: For more information about full retirement age, ask for Retirement Benefits (Publication No. 05-10035).
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Old 06-09-2008, 12:08 PM
 
Location: West Virginia
12,453 posts, read 31,590,231 times
Reputation: 8157
What they dont tell you is they keep a % of your check to pay back the system IF you go back to work....
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