40% of retirees draw social security from outside United States

[AKIQPilot]

Just now, Angry ginger said:

ssa.gov

Haha yep. Lol

[Highmark]

3 minutes ago, Angry ginger said:

that is not the governments fault that people are stupid they never have said it's all you need and passed many a law to make sure people invested more.  I do think they should restart sending the paper statements about how much you will get.  Very few login to see how little or much they will receive.    

 

Just now, AKIQPilot said:

All they have to do is log on to ss.gov and they can see exactly how much they've contributed and what their monthly benifit check will be.

Its not the governments fault that people don't look to see what their benifit payments will be. 

 

9 minutes ago, Highmark said:

Mostly their fault but our govt has convinced generations that SS should be all you need.  

It comes up every election.   Democrats act as if any change to SS will take away your retirement.  

 

[Angry ginger]

Just now, Highmark said:

 

 

It comes up every election.   Democrats act as if any change to SS will take away your retirement.  

 

no they argue it will harm a lot of people and it will because it's all they have.  Gov should force 401k's on people who are not pension eligible and not allow withdrawals prior to retirement age because that return should be better but those who are truly poor still need a safety net as their contribution would not be enough to cover what SS now does.  I've maxed my SS cont all but a couple years since 1995,  not a fan of the program because I have self responsibility and would have gotten a far better return elsewhere but i recognize the need for many so have it 

[Highmark]

Just now, Angry ginger said:

no they argue it will harm a lot of people and it will because it's all they have.  Gov should force 401k's on people who are not pension eligible and not allow withdrawals prior to retirement age because that return should be better but those who are truly poor still need a safety net as their contribution would not be enough to cover what SS now does.  I've maxed my SS cont all but a couple years since 1995,  not a fan of the program because I have self responsibility and would have gotten a far better return elsewhere but i recognize the need for many so have it 

Guess I see it both ways.     

[ArcticCrusher]

16 minutes ago, Highmark said:

Our plan they have tons of investment options to choose from.   They also have access to the plan managers investment advisers free of charge for advice.   Well its a part of the very small management fee that we negotiate and shrinks upon the size of the overall fund.  

Right now I have unlimited options including private equity where most of the advisers can't go. 

[Snake]

13 minutes ago, AKIQPilot said:

All they have to do is log on to ss.gov and they can see exactly how much they've contributed and what their monthly benifit check will be.

Its not the governments fault that people don't look to see what their benifit payments will be. 

At full retirement age (67):

$2,449 a month

At age 70:

$3,043 a month

At early retirement age (62):

$1,713 a month

[AKIQPilot]

Just now, Snake said:

At full retirement age (67):

$2,449 a month

At age 70:

$3,043 a month

At early retirement age (62):

$1,713 a month

Now there is a man who has logged on to ssa.gov.  All good numbers.  Not bad, especially considering your wife will likely get SS also, I assume.

[Highmark]

Just now, AKIQPilot said:

Now there is a man who has logged on to ssa.gov.  All good numbers.  Not bad, especially considering your wife will likely get SS also, I assume.

I do it once a month.  

[Snake]

Just now, AKIQPilot said:

Now there is a man who has logged on to ssa.gov.  All good numbers.  Not bad, especially considering your wife will likely get SS also, I assume.

Hers will likely be more, ain't checked it.

So at 67, $9,500 pensions, $5k SS, military pension (Guess $1,750ish) and the 401ks.

[AKIQPilot]

Just now, Snake said:

Hers will likely be more, ain't checked it.

So at 67, $9,500 pensions, $5k SS, military pension (Guess $1,750ish) and the 401ks.

So $9500 + $5000 +$1750ish + 401k's.  Dang.  I would retire now if that was the case.  

Even if it's just $9500/mo that should be enough to cover your $1500/mo living expenses.  

[Highmark]

Something most people don't understand about SS.

https://money.usnews.com/money/retirement/articles/2016-01-25/how-to-undo-claiming-social-security-early

 

[ArcticCrusher]

1 minute ago, AKIQPilot said:

So $9500 + $5000 +$1750ish + 401k's.  Dang.  I would retire now if that was the case.  

Even if it's just $9500/mo that should be enough to cover your $1500/mo living expenses.  

But you are retired.

[Snake]

3 minutes ago, AKIQPilot said:

So $9500 + $5000 +$1750ish + 401k's.  Dang.  I would retire now if that was the case.  

Even if it's just $9500/mo that should be enough to cover your $1500/mo living expenses.  

I have to wait till 57 and the wife 56 1/2.

[AKIQPilot]

Just now, ArcticCrusher said:

But you are retired.

If I were Snake is what I meant.

And I am semi retired.  I'm doing a little consulting for BP.  I'm actually rewriting all the training and competency assessment manuals for Operations Technicians. I work 2 weeks and then take 4 weeks off. 

[AKIQPilot]

1 minute ago, Snake said:

I have to wait till 57 and the wife 56 1/2.

How close are you to 57?

[ArcticCrusher]

11 minutes ago, AKIQPilot said:

If I were Snake is what I meant.

And I am semi retired.  I'm doing a little consulting for BP.  I'm actually rewriting all the training and competency assessment manuals for Operations Technicians. I work 2 weeks and then take 4 weeks off. 

Not sure how I would ever completely retire either.  

[Snake]

15 minutes ago, AKIQPilot said:

How close are you to 57?

55 in April. 

[spin_dry]

30 years of pension from WRS.10 years of a 401K contribution for work at a hospital. 30 years of deferred compensation. Then there’s the stock and mutual funds that I still have. My deceased wife’s SS kicks in next year at age 60. I’m sitting ok. I had to go back to work. I’m just not ready for retirement.  

[SSFB]

33 minutes ago, Highmark said:

I do it once a month.  

Hadn’t checked mine in a while, just did now. Looks good. I’m treating SS as a bonus if it’s actually there for me.

[Snake]

Just now, SSFB said:

Hadn’t checked mine in a while, just did now. Looks good. I’m treating SS as a bonus if it’s actually there for me.

yup

[ArcticCrusher]

1 minute ago, SSFB said:

Hadn’t checked mine in a while, just did now. Looks good. I’m treating SS as a bonus if it’s actually there for me.

Same for me with CPP.  

[DriftBusta]

34 minutes ago, SSFB said:

Hadn’t checked mine in a while, just did now. Looks good. I’m treating SS as a bonus if it’s actually there for me.

SS isn’t going anywhere.  You want to see a revolution and blood in the streets try taking their SS away.  I can see means testing and raising the age a little bit more, but it will never go away imo.  

[ArcticCrusher]

2 minutes ago, DriftBusta said:

SS isn’t going anywhere.  You want to see a revolution and blood in the streets try taking their SS away.  I can see means testing and raising the age a little bit more, but it will never go away imo.  

Like our CPP the return you get is not hard to beat on your own.  The problem then lies in trying to help the deadbeats who have no clue how to take the right steps for their own retirement.

It needs to stay.

[f7ben]

[spin_dry]

18 hours ago, snoughnut said:

I’d eat a bullet before ever going to assisted living, I promise.

My father in law went into assisted living living because of the onset of dementia. The hardest part of him being there is how his piece of shit sons abandoned him. They couldn’t deal with a father that swore at them. He lived out his remaining years there. We’d visit him several times a week. His place was 4 blocks cos from where I worked. He was comfortable and it was a really nice place.