Surviving the crash

[nammac]

Is there a place on the SSA site where it says exactly how much one has paid in to date? Or does one have to take the latest copy of their annual SSA statement and figure out, based upon the numbers in the Earnings Taxed for Social Security column, and the payroll tax rate(s) of SS over the years, and sum it all up to figure that out? Cuz now you've got me curious as to how much I've paid in, and how long I'd have to live to draw on it to break even...

ETA:
Never mind. I found it in a little gray box right below the table of annual contributions. So, based upon what I and my various employers over the years have paid in, the monthly amount my benefit would be if I were retire at my FRA in another 3± years, and not including the additional contributions between now and then, and not adjusting for increased benefits due to inflation, then I would have to live about 9 years after my retirement. Since that's forecasted to be in 3± years from now, I would have to live at least 12 years from now to break even (expire in 2035).

I've determined my 401k and IRA contributions (and balances) based upon me living to 2049, since those Sobo genes seem to favor long lives into the early-to-mid-90s. But I've always sort of knew I'd live past what the point of what I've paid in to SS, which is why I max out my 401k every year (plus those company matches). So that being said, all you Gen X-ers and younger can give me all the shiit you want about being a selfish, greedy, lives-too-long-so-he's-gonna-bankrupt-SS-before-I-get-any Boomer. Frankly, I really don't care. Accident of your birth year...

View attachment 1432955

3 away from eligibility, more like 10 away from actually retiring, got one more to put through the socialist wringer known as college/university…

 

[sobo]

3 away from eligibility, more like 10 away from actually retiring, got one more to put through the socialist wringer known as college/university…

I've got the eldest graduating The Wringer this fall, and the youngest starting at the same time. The eldest did Running Start, so he saved me two full years of the socialist wringer, and appears that he will escape the indoctrination totally intact. The youngest would have completely missed her high school years if she had done Running Start, so she lobbied us parents so she could have a senior year. I broke down and said, "OK", knowing it was gonna cost me the full 4-year cost of a Leftist Indoctrination Camp. But what was I gonna do, deny her being a "real" senior (not the remote-learning senior of COVID)? She's my daughter...

But being a "real" senior precluded her from doing Running Start (even though every class she took in her last 2 years was AP, so I hoped that counted for something - which it did), and she got her "high school experience" that she was after... And boy, did she ever pull out all of the stops and make skipping RS worth it! Turns out, as a high school senior, she's won $2,500 in cash awards for her art, sports, and grades. And she lettered on three sports teams (soccer, basketball, and tennis - she made the BB team never having shot or dribbled a basketball in her life). And the college she's going to has awarded her a 4-year scholarship that will offset her college costs to almost exactly the same price point that I'm paying out-of-pocket for her older brother's private business college in Tampa.

So what does that all shake out to? Basically, I'm only working now to pay for the kids' college so that I don't have to touch my 401ks, IRA, or other assets to cover it. If it wasn't for college, I would've retired a couple years ago or more. But since my daughter's college costs will virtually match my son's (except for that pesky, 1-semester overlap this fall), I figure I can either retire at my FRA at the start of her junior year (9/2026), or just stick to the career for an extra 8 months (so as not to touch my retirement) and retire as soon as that fancy parchment hits her grubby little hands in May of 2027.

 

[The Heretic]

I've got the eldest graduating The Wringer this fall, and the youngest starting at the same time. The eldest did Running Start, so he saved me two full years of the socialist wringer, and appears that he will escape the indoctrination totally intact. The youngest would have completely missed her high school years if she had done Running Start, so she lobbied us parents so she could have a senior year. I broke down and said, "OK", knowing it was gonna cost me the full 4-year cost of a Leftist Indoctrination Camp. But what was I gonna do, deny her being a "real" senior (not the remote-learning senior of COVID)? She's my daughter...

Doing so precluded her from doing Running Start (even though every class she took in her last 2 years was AP, so I hoped that counted for something - which it did), but she got her "high school experience" that she was after... And boy, did she ever pull out all of the stops and make skipping RS worth it! Turns out, as a high school senior, she has won $2,500 in cash awards for her art, sports, and grades. And she lettered on three sports teams (soccer, basketball, and tennis - and made the BB team never shot or dribbled a basketball in her life). And the college she's going to has awarded her a 4-year scholarship that will offset her college costs to almost exactly the point that I'm paying out-of-pocket for her older brother's private business college in Tampa.

So what does that all shake out to? Basically, I'm only working now to pay for the kids' college so that I don't have to touch my 401ks, IRA, or other assets to cover it. If it wasn't for college, I would've retired a couple years ago or more. But since my daughter's college costs will virtually match my son's (except for that pesky, 1-semester overlap this fall), I figure I can either retire at my FRA at the start of her junior year (9/2026), or just stick it out for an extra 8 months (so as not to touch my retirement) and retire as soon as that fancy parchment hits her grubby little hands in May of 2027.

Take it from me - it will never end.

I paid for my daughter's roof last year - $25K - and she has been out of college for 25 years. As you say "she's my daughter". Another 15+ years and she will get everything I have anyway.

 

[sobo]

Take it from me - it will never end.

Seriously, though, I know what you mean. I've been "free" of my parents' money and making my own for 40+ years now, although I did get a loan from the Grand Sobo to help with the down payment on my first home 30-odd years ago. But my older brother, and younger sister...? Whoo-boy, can those two really rack up a balance for Dear Ol' Dad...

I paid for my daughter's roof last year - $25K - and she has been out of college for 25 years. As you say "she's my daughter". Another 15+ years and she will get everything I have anyway.

The Grand Sobo paid for my brother's kidney cancer operation at full price because my brother, who had no insurance other than ObamaCare, dropped it as soon as Trump rescinded the "must-have-insurance" requirement of ObamaCare, simply because he hates Zer0bama so badly. Then, just a few months after he dropped ObamaCare, he gets Dx'ed with cancer in his kidney. He had no way to pay for it... The Grand Sobo to the rescue, and shelled out $65k+ for that operation (my brother's doc out West wanted to remove the entire kidney - Dad flew him back to the WDC area where he lives and that DC-area doc was able to save 90% of that kidney).. And that's just one of the many poor decisions my brother has made that our father covers.

Same with my younger sister. She got way into credit card debt 20-odd years ago, and dad bailed her out to the tune of $66,000+. He put her on a (his!) program for spending, and she seems to have learned a bit from it now. But she still is underemployed for her educational level and takes a lot of money from Dad for her upkeep. He's bought every one of her cars for her entire life, pays for their upkeep/maintenance, and she even robs his freezer when she comes home every couple of weeks to "visit" him. She even moved back in with Dad a couple years ago or so. She just didn't make enough as a dental hygienist in the outer DC area to make ends meet...

I asked my dad, "What's going to happen to those two when you're gone?" He shrugged his shoulders and basically said, "I can't just leave them to flail and watch them fail while I'm alive, so all I can do is bequeath them enough with which to make it a bit farther in life after I'm gone." It must be pretty sad for him that his enterprising eldest daughter died at only 32 of a then-incurable blood disease, his younger son (yours truly) should be just fine with his own assets, but he'll leave two, fully adult (both of them are over 60 years old) kids that can't face life's trials and tribulations on their own after he's gone...

 

[The Heretic]

Yeah - I am pretty much a soft touch for my daughter. But she doesn't take advantage of it unless she has no choice. She & SIL both work, and they have no savings, so when "stuff happens" and they do not have the cash to handle it, it is poor old dad to the rescue.

But since last year I've told them they need to be very careful as poor old dad's wallet is getting threadbare and SS just barely covers the mortgage and my living expenses.

 

[Longwalkhome]

at least Father's day is close...

 

[Howard1955]

I've told all my kids that since I provided for them until they got their lives started, I expect 10% of their pay to come to me for the rest of their lives.

Guess how much I've gotten from them so far?

 

[Xaevian]

I've told all my kids that since I provided for them until they got their lives started, I expect 10% of their pay to come to me for the rest of their lives.

Guess how much I've gotten from them so far?

 

[Longwalkhome]

I've told all my kids that since I provided for them until they got their lives started, I expect 10% of their pay to come to me for the rest of their lives.

Guess how much I've gotten from them so far?

Low quality assisted living is $5,600 a month, get them saving.

 

[Stomper]

Wrong, the answer is, "jello".

 

[Burt Gummer]

More 2030 baby steps

This guy's comment is dead on! Agree cause I've had a job or owned companies since age 10.

@timothystephendarlow3658

4 hours ago
I am 67 years old and still working a full week. I take £1,700 a month. And these crooks are now taxing me so that they can give almost the same amount to people younger than me to do nothing. I can't take a lot more of this. It's time to rise and terminate all the evil lunacy being forced upon us.

 

[Longwalkhome]

You are watching the Cloward Piven strategy destroying America, will we survive it?

 

[sobo]

You are watching the Cloward Piven strategy destroying America, will we survive it?

No, a country does not. History amply demonstrates that to us...

 

[Siglvr]

I've told all my kids that since I provided for them until they got their lives started, I expect 10% of their pay to come to me for the rest of their lives.

Guess how much I've gotten from them so far?

LOL! We sort of paid for college for our 2 and said (sort of tongue in cheek), "you can pay us back when we get old". Son had 4 jobs until his last year of undergrad and he came to us and said: "I need help. I need to stop working so I can study. I need a 4 point to get into grad school and I can't work 4 jobs and do it." We shrugged and said: "OK". Gets his 4 point and grad school acceptance.

Graduates, gets a decent career, shocked us out of the blue with 10 grand cash, plops it down into our hands and states: "I'll be getting it to you in full over time as I save it up." At that time, a kid right out of college he already owned his own house and a duplex that cash flowed. We said: nah, invest it and if we ever need it we'll give you a nudge." Kid still has 4 roomates that make the house payment for him so he can save up.

 

[Burt Gummer]

You are watching the Cloward Piven strategy destroying America, will we survive it?

No it will not survive in its current form. None of this is by accident nor can voting or any other false system ever repair any of it at this point. In order for TPTB to get their global utopia with them in complete control, all nations must be brought to parity. The USA had a great run but our time is coming to an end in terms of any liberties or reasonable standard of living.

We are pretty much a decaying corpse, but we are huge, so the maggots will take a while to consume us. Divide and conquer, create hate anyway they can toward your fellow man; they are masters of psychology and social planning. Hate this person, this group, this nation, this opinion ....... but just never look past all that to see the puppeteers.

If there is two group of people that can see past the propaganda more so than others it is farmers and long haul truckers. They are in the minority, but aware, because they don't spend hours a day being influenced by a programming terminal (a TV).

 

[Longwalkhome]

https://twitter.com/x/status/1666203439146172419

This may help us survive if it reaches enough people.

 

[Burt Gummer]

They learned how they lost some control but not next time around. More irrational fear mongering + CBDC + Electronic Fear IDs = death to freedoms. Don't have a V-Pass? Well then any rights do not apply to you. Gotta thin that herd.

The decline of our Empire is on hyper-speed now. Too late. Problem-Reaction-Solution. Solution = Draconian measures and no more freedoms. Anyone actually believe the 2A will exist in 6-7 years? The US Constitution will be usurped by the WEF charter and finally global entities will have the last say on everything. People begging for crumbs and permission to leave their homes won't care about losing all other liberties.

Other than that enjoy every day NOW. Appreciate the ability to pretend our liberties/permissions are permanent.

 

[Longwalkhome]

I watched a great video today with Jenet Yellen being asked about inflation. Guy pointed out that our government created out of thin air $5 trillion dollars and gave it away. Naturally $5 trillion after a lockdown caused people to buy what was on the shelves but producers were not being productive. Speaker proved that government caused inflation as everything went up in price.

That being said it's the supply chain that keeps prices high as fuel is used to move everything and fuel prices are too high.

 

[The Heretic]

That being said it's the supply chain that keeps prices high as fuel is used to move everything and fuel prices are too high.

Some of the prices - such as some foods - came back down (partially) as the fuel prices came down.

I noticed some things in Costco, such as their shelving units and totes, decreased in price, or were on sale, but did not decrease back to previous prices.

The prices will probably go back up in July or after July when OPEC cuts production. There will be some hysteresis there though as the effects make their way thru the supply chain.

 

[Longwalkhome]

Some of the prices - such as some foods - came back down (partially) as the fuel prices came down.

I noticed some things in Costco, such as their shelving units and totes, decreased in price, or were on sale, but did not decrease back to previous prices.

The prices will probably go back up in July or after July when OPEC cuts production. There will be some hysteresis there though as the effects make their way thru the supply chain.

Plus fuel use will rise due to more driving in the summer. Add to that more food is going to be harvested and it takes trucks to move the farm goods. Hopefully we don't run out of fuel as our emergency supply was sold to the CCP.