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I’m still working but I filed and got my approval to start receiving my check -(66) not trusting the Govt not to change things on me. Now to nest egg until I do retire. The money is Safer with me
You are better off to Suspend and draw it at the Maximum age rate - age 70.
Seriously -- look in to File and Suspend.
You are better off to Suspend and draw it at the Maximum age rate - age 70.
Seriously -- look in to File and Suspend.
No, ty -I have a three year plan and both incomes will put me right were I need to be. There more to this story, but I really do not trust the govt not fouling up the ss in the next few years.
Social security suffers from lack of modernization. The life expectancy at social security's initiation was 61. Today's life expectancy is 78 years old. The average retirement age of 65 has remained unchanged since 1935. Mathematically, neither program is sustainable without signification changes.
Here's my suggestion.
No one should be exempt from SS taxes. Whether you annually earn $1000 or $10,000,000, each person should fund their retirement and receive payment based on what they invested. No exceptions, no exemptions.
Spouses should receive their SS benefits AND that of their late spouse, with the exception that spouse remarries.
The government needs to instill upon Americans to invest in their own retirement. It's a ridiculous notion that anyone should rely on the government to live comfortably at any age when there are those that work their butts off day in and day out that never really achieve it.
Lastly, a 2% increase in benefits will not bring you out of poverty. Talk about bread crumbs.
Last edited by Mad_Jasper; 02-06-2019 at 05:48 PM..
Once again, the New York Times proves that it cannot be truthful:
It would be the first major expansion of Social Security since 1972 and the most significant change in the program since 1983, when Congress stepped in to avert a financial crisis by raising taxes and the eligibility age for Social Security.
There was no major expansion in 1972.
Nixon expanded SS in 1972.
On July 1, 1972, President Nixon signed Public Law 92-336, a bill to extend the public debt limit. The legislation also contained amendment to the Social Security Act, raising the amount of monthly cash benefits and revising several financing provisions.
Yes but if you die at 75 - then you have lost money.
LOL if you're dead, you won't care that you lost money... so funny! However, the longer you live, the more you will appreciate that you made a decision that maximized your monthly SS check.
You are better off to Suspend and draw it at the Maximum age rate - age 70.
Seriously -- look in to File and Suspend.
I am not sorry that I started receiving Social Security at first chance. I have a pension, so lucky, about that; but Social Security has boosted my quality of life. Life is going by so fast, now. Looking back, I would have saved more; but still, who knows how long our life and quality of life will be?
Nixon did do some great things. Too bad he became paranoid. Being president must wear on the nerves can't even imagine.
Yes but if you die at 75 - then you have lost money.
Insurance is the transfer of risk in exchange for a premium. When the government insures risk, it’s called a tax.
SS is old age income insurance.
If you buy term life insurance and don’t die, you have lost $.
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