Gold Lifetime
- Messages
- 27,682
- Reactions
- 74,055
Get myocarditis and get it cured at the same time.Maybe they can package it up with a covid shot.
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
Get myocarditis and get it cured at the same time.Maybe they can package it up with a covid shot.
That's my plan, but none of my plans ever seem to survive first contact with reality.One important piece left out of the discussion; if you are in a position to make this decision then you don't actually NEED* the SS money. That being the case, the argument for waiting until 70 years of age doesn't include the investment opportunity lost with the money that you would have gotten starting at age 62. In other words, at 62 take the money and invest it wisely, like you wish the government had from the beginning of their pyramid scheme, and you will always be ahead of where you would be if you waited.
* By NEED I mean having to have it to get by. Absolutely no implication that you shouldn't get it if you don't need it. It is after all your money held hostage.
I only have 31 of the 35 years so far but I already have an AIME of $2526. That means over half of my payroll tax contributions so far and any future contributions will only be credited at 32% rate. That is very disappointing and is making semi-retiring immediately sound attractive.This method SS uses to calculate benefit was news to me. Lower income workers get the most bang for the buck.
If you wanted to get the maximum percentage (90%) of your contributions back on a monthly basis, don't have an average indexed monthly earnings of more than $1115 (for 2023).
How Social Security Benefits Are Calculated | Bankrate
The formula may seem convoluted, but it's important to know how your Social Security benefits are calculated.www.bankrate.com
For those getting close a word of warning I found the hard wayIf you made it to old age already, expect to live longer. This may be a good reason to hold off collecting SS until full retirement or later. If you are obese, diseased ridden, don't work and sit around a lot, you should consider collecting at 62 (if you make it to 62).
Sad that they have made such a mess. it really is the 3d rail though. It will be the LAST thing they cut off if they cut stuff off. If voters don't change they will keep making the money you get worth a LOT less though. I have a pension from the Machinist Union that I often wonder how much of that I will ever see. To start collecting that I have to actually stop working. By then there may not be much of that left. There is a fed program to bail them out if it completely tanks but, will of course not replace all of it. I would be shocked if I got more than half.Get it why you can because it is going broke. If I can get a penny at 62 I am taking it.