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Old 08-10-2007, 08:44 AM
 
702 posts, read 2,896,575 times
Reputation: 443

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Quote:
Originally Posted by katie45 View Post
I will wait until I am 66 cus the amount I'd receive at 62 is not enough since I need to keep working and I'd be limited to 12k/yr income (whatever I'd earn over 12k would reduce my monthly s/s benefit amount). At age 66, I can collect s/s and then earn any amount and the s/s will not be reduced.

Believe me, if I could swing it, 62 would work for me!

That's correct, it is a recent change that you can work and collect SS when you reach the full benefit age.
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Old 08-10-2007, 10:22 PM
 
Location: Lake Metigoshe, ND
325 posts, read 1,424,182 times
Reputation: 222
I think it has been mentioned before, we don't know how long SS benifits will even be around. Consider this astounding stat, 75 million baby boomers will be retiring soon. That means if you were born about 1946 and after. There is NO Social Security savings account. Our wonderful people in Washington have already spent it on other pork! They think our kids are going to pay for it! It is a bad notion to think we are going to draw until we are dead. I believe its not going to happen.
We have to be more savy and save for ourselves. Expect no help from the government. Go back to our roots and live off the land.. perhaps!
Become more healthy and eat more properly. Excercise.. etc. Anything that
we can do to sustain a reasonable lifes existance. I'm sure there is a lot more as well. Just expect no help from anyone, in my opinion.
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Old 11-14-2012, 07:39 AM
 
2 posts, read 2,450 times
Reputation: 10
It all depends on how much you have. I was out of work for 2 years not collecting unemployment so when I hit 62 I signed up for SS. Then as happens I lamded a job in june and just finished it 40 weeks of work at over $2000.00 a week. If I would have know I could have put off collecting SS till next year or when the money I earned runs out. But we can't always tell what will happen to us.
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Old 11-14-2012, 08:04 AM
 
702 posts, read 2,896,575 times
Reputation: 443
Quote:
Originally Posted by MikeyToo View Post
I think it has been mentioned before, we don't know how long SS benifits will even be around. Consider this astounding stat, 75 million baby boomers will be retiring soon. That means if you were born about 1946 and after. There is NO Social Security savings account. Our wonderful people in Washington have already spent it on other pork! They think our kids are going to pay for it! It is a bad notion to think we are going to draw until we are dead. I believe its not going to happen.
We have to be more savy and save for ourselves. Expect no help from the government. Go back to our roots and live off the land.. perhaps!
Become more healthy and eat more properly. Excercise.. etc. Anything that
we can do to sustain a reasonable lifes existance. I'm sure there is a lot more as well. Just expect no help from anyone, in my opinion.
Social Security payroll taxes will enable the program to pay about 75% of benefits even after the current reserves in the Social Security trust funds are exhausted in 2033.
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