Posted on 11/27/2018 10:46:01 AM PST by Red Badger
“...my first SS “yearly pay” was in 1974 for $32.00.
So, do I “remove” that year (since the next year’s salary in 1975 was much higher), or leave it as-is?”
Social Security is figured on your highest 35 years of earnings. If you work more than 35 years, like me, year 36 wipes out the lowest year (assuming it is larger) and the same for year 37, etc. Wiping out some small years early in your working career makes a significant difference in the monthly payout. Also, if you start past 62, you can get a lump sum payout for as many months in arrears (till 62) that you want. It just reduces your monthly payout. Maybe to payoff your house, etc.
Just bought that book on eBay for $3.75. I think it will come in handy. Thanks for the tip.
Social Security must be repealed and completely dismantled. It is destroying our society by making us all into dependents to the state.
JoMa
We were born in ‘50 and ‘52 - both started SS at age 62 vs waiting because the lower amount still put us ahead of the power curve until our mid 70s...I wonder how many wait to get the bigger amount, then die early enough that they haven’t collected as much as they would have if they hadn’t waited.
Twins,,,
Separated at Birth!
But really,
I want to retire So bad
That it hurts!
Its like everything is Screaming,
,”RUN!”
That makes sense,
64 ,,,Retirement.
Can you expand on that?
Thanks.
The rules changed since I go on, I think. Contact your SS office or SS’s website. I think it’s https://www.ssa.gov/
I’ve thought about that, but decided not to.
The extra income that I have to report on my taxes would put me into a higher tax bracket, so the money would be taken back by government.................
I will not ‘retire’. I will keep working and being productive as long as my health holds out.
I’m not in ‘perfect health’, but I’m okay, just minor stuff, mostly.
I have friends who have retired ‘early’ only to get so bored they went out and got jobs that they really didn’t need.
There’s only so much golf, fish, travel and such that you can do, then it’s boring.
You have to feel like you are creating and contributing to society, it’s human nature.
Sure all that leisure time is great and it’s fun, but it’s not enough.
Too many people discover that late. When you stop working, you start dying..............
24 Years retired,
Not Bad.
I bet you’ve cleaned a few
Closets out.
For Later,,,
I’m still single.
My Job has been turned
Into crap,,,
“That makes sense,
64 ,,,Retirement.
Can you expand on that?
Thanks.”
I’m not a financial planner. Not sure what you’re looking for me to expand upon?
For me, at 64, I’ll be done with my career, I’ll draw SS, and most likely work some part time thing to keep me out of trouble, (and out of the wife’s line of fire). As it stands now, if you’re below FRA, you can only make something like 17k before they start dinging you.
64 - SS and partime job.
65 - Medicare.
That should keep me going until I don’t go anymore.
There’s plenty more out there!....................
We also retired when each of us hit 62 - made a big difference than if we had continued to work. Our retirements are enough we pay taxes on some of our social security but it isn’t that big a tab.
“I bet you’ve cleaned a few
Closets out.”
Nope,but I look at closets that NEED cleaning out———and decide to “do it tomorrow”,which never comes.:-)
.
That’s Good,,
Part time,,
That’s the Ticket!
I am right there, right now.
Time to get moving...
you are welcome. Mine has a Feb 2015 copyright date and it doesn’t mention the revision of “restricted” filing. I don’t know what else might be outdated in my book.
Their web site has info regarding updates to the book
http://www.getwhatsyours.org/updates/
Stop Working,,,
Start Dying.
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