Well, I finally done it - Social Security, it ain't social, and it ain't security.

[alnpar]

I find it very troubling that the politicians keep talking about SS and Medicare system running out of money. That’s my money…I paid into this damn system for 50 years…. I want it all back. Why is it Nobody ever talks about welfare running out.

The way I hear it, OUR Money in Social Security is what is paying all these illegals out of!

 

[mr ed]

Well after turning 65 in August and having a stroke the same month and my brother turning 62 in August and having an open heart triple bypass in September
All I can say is retire as soon as possible and enjoy what time you have left.

 

[OK Corgi Rancher]

Well after turning 65 in August and having a stroke the same month and my brother turning 62 in August and having an open heart triple bypass in September
All I can say is retire as soon as possible and enjoy what time you have left.

That's what I thought and was part of the reason I quit working when I did.

I don't thing about it often but I have 109 days, 8 hours and 11 minutes until my first SS check goes into the bank. Not that I'm counting or anything.

 

[rickm]

Been retired just over 2 years and have another year before i can draw full SSI so i have been holding off so i can get a larger monthly check, health isnt the greatest but nothing life threatening at the moment and only goes to the doc every 3 or 4 years right now.

Edit...... i keep saying SSI when i really mean just the normal SS, to me in the back of my mind it is all the same for some reason never really paid attention to the difference til lately and im having trouble to get my brain to di-enervate between the two

 

[KOPBET]

I'm not eligible for SSI so that's out. But Social Security benefits are rolling in every 3rd Wednesday of the month and I hope to see a good increase in January.

 

[O4L]

I was looking at the numbers the other day. Based on the last SS statement I received, if I wait until 65 to start drawing, instead of 62, it will take ten years to make up the difference for that three years of delayed income.

I don't know if I'll even make it to 65 much less 75. At 62 SS would be about equal to my current income so to me it would be a no brainer to draw it at that time.

If I get a better paying job before I'm 62 next year, then it would be better financially to keep working but I'm not sure it would be so beneficial otherwise.

Ten days after I posted this I got a better paying job. I thought with the better income I might put off SS for a while but after almost six months at this job I'm considering drawing SS as soon as possible after turning 62 in April.

I may still work this job part time for a while if possible. I need to find out how much I can make and still draw my full amount.

 

[KOPBET]

I may still work this job part time for a while if possible. I need to find out how much I can make and still draw my full amount.

You may already know this but...

What happens if I work and get Social Security retirement benefits?

 

[Uncle TK]

Chart of rates and max

https://1.bp.blogspot.com/-HV01YH01_R0/UhuRP2D28OI/AAAAAAAAAf4/yG3fpAhd5tk/s1600/details_ss.png

In the early years the amount paid in was very small
Max of 6.2%

 

[Foxfire5]

Due to COVID and my back and my heart and, and, I retired. I was always figuring on getting something to tide us over but that damn Obiden et al. has really screwed up my plans. Last time I saw $4 gas was when I gave up my dream of easy city living to my wife who wanted to go back to my farm house and still commute 75 miles to OKC. Dumbest thing we ever did but it taught her a lesson. As a kid, I was farming 800 acres under tillage and another 1,000 in pasture. My grandma owned all of it except for the 160 we lived on. When my grandmother died she divided all of it to the three daughters my mother being one of them and the only one living on the land and the only farmer in the group. Ten years later, dad retires from farming and leases our ground to my cousin to farm. I tried to tell wifey the logistic would not work but she hated the city and I being a dutiful hubby decided to stay married.

Gasa hit $4 gallon and we are going broke. Especially with my job. I was managing the security department and was verbally promised assistance and bonuses that never materialized even though I fulfilled my part. We moved back to town and had to file for bankruptcy. In going back to OKC we did much better financially and paid off our debts 5 years sooner than the court provided for us.

Now, after another 12 years of technician service and installation work and several almost life threatening injuries and a heart attack, and COVID, I'm soooooo done.

Today, I finally applied for yech, government assistance. I figured it up, after medicare and others take their share, I get to keep a few bucks per month for a soda and maybe a pack of gum.

Wow life is a bitch for some of us and I can relate to some of the things that happened to you and your family. Life is a bitch when one has financial and health problems combined. I wish you well and please trust in the Lord. (I know easier said than done). Best to you and yours.

 

[XYZ]

I planned my whole life for this. I have SSI and 4 other retirement accounts, of which 3 of them I haven’t started drawing from.
I have a side gig that has me maxed out on what SS will allow me to make.

I’m drawing more retired than when I worked.

I don’t have any silly sense that I have enough for what the politicians are going to do to me.

I reach Full Retirement Age next year. I’ll probably go back into full time work just to hedge my bet.