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Posted on 7/9/26 at 4:32 pm to Ramblin Wreck
Set up your online SSA account. You can monitor everything there. It’s actually a decent website.
Posted on 7/9/26 at 4:37 pm to Ramblin Wreck
quote:Let's say you withdraw an even $3,000 per month. $36,000 a year. Lets say 40% is taxed and you actually receive $21,600 a year. We're gonna need you live util around 87 for you to not take a total loss.
about $500K has been paid in Social Security taxes over my lifetime. If I choose to withdraw at 62, I will receive less than $3K per month.
It's funny that SS is taxed from your check your whole life and then you get taxed again when you receive the benefits. That's the scam.
This post was edited on 7/9/26 at 4:40 pm
Posted on 7/9/26 at 4:39 pm to Ramblin Wreck
There will be people like you that can start receiving ~3k at 62, and die at 65 to offset the people who will get $1300 monthly from 62-97yo.
Are we ready to let old people or disabled people who didn’t save sufficiently, die on the streets?
Are we ready to let old people or disabled people who didn’t save sufficiently, die on the streets?
Posted on 7/9/26 at 4:40 pm to Ramblin Wreck
SS pays ex-wives, kids, & veterans too much money.
The formula needs to be updated since the ratio of givers to takers has swayed way too far to the takers side.
The formula needs to be updated since the ratio of givers to takers has swayed way too far to the takers side.
Posted on 7/9/26 at 5:09 pm to Ramblin Wreck
I’m almost 61 and receive a Federal Pension and will get a partial State of Florida pension thanks to two careers in law enforcement. I’m going to take SS when I’m 62 largely because I’m convinced that I’ll end up losing it by means testing if I’m not already on it when the Democrats take control whenever that may be.
The SS Fix will be to exclude as many people as possible. It’s a lot harder to take a benefit away than to prevent them from receiving it in the future.
It’s a total rip off scam.
The SS Fix will be to exclude as many people as possible. It’s a lot harder to take a benefit away than to prevent them from receiving it in the future.
It’s a total rip off scam.
Posted on 7/9/26 at 5:15 pm to Ramblin Wreck
The good thing about Social Security is that the administrators of it have put all of your money into a lockbox where it is safe and won’t ever be used for anything other than funding your deserved retirement benefits.
I can really sleep easily knowing that I can trust the folks to whom I legally had to donate money to all of these years are taking exceptional care of it.
I can really sleep easily knowing that I can trust the folks to whom I legally had to donate money to all of these years are taking exceptional care of it.
This post was edited on 7/9/26 at 5:15 pm
Posted on 7/9/26 at 5:18 pm to soccerfüt
You want to know a pipe dream? Delayed benefits to 70. $5200 a month I’ll probably drop dead receiving within 5 years.
If I take it early, and continue working….is that even possible?
If I take it early, and continue working….is that even possible?
Posted on 7/9/26 at 5:19 pm to bayouteche
quote:
SS pays ex-wives,
And widowers too. I know I just started collecting on my wife's SS since I turned 60 a few months ago. But I wouldn't say I'm getting too much. You only receive around 60% of what your spouse would have gotten at FRA. Then when the surviving spouse reaches FRA one must elect to either keep that benefit or the survivor's benefit, which ever is greater. So in the seven years I actually will only receive a fraction of the amount she paid in.
Posted on 7/9/26 at 5:22 pm to Ramblin Wreck
You know it’s funny … people used to say you should always wait until you’re 67 or whatever the additional age requirements to receive more payout. I think there’s two extra tiers… But it’s becoming apparent that when you really run the numbers the reality is you should probably go ahead and take it as early as possible and if you don’t need it, you should simply invest it and hold that money into an investment account and hold it compounding until you are 67-70
This post was edited on 7/9/26 at 5:23 pm
Posted on 7/9/26 at 5:45 pm to DiamondDog
quote:
If I take it early, and continue working….is that even possible?
Not really. Until you reach full retirement age you can only earn like 25k per year before they start reducing your SS benefits.
Posted on 7/9/26 at 5:51 pm to bayouteche
quote:
SS pays ex-wives, kids, & veterans too much money.
Curious why you lumped Veterans into this category?
SSI and VA disability are completely separate programs.
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