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When to draw your social security?

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Re: When to draw your social security?

Unread postby vtsnowedin » Thu 24 Nov 2016, 00:02:23

$this->bbcode_second_pass_quote('Newfie', 'A')ll fiat money is illusion, expressions of trust.

But every day we use this illusionary money to pay our bills and fill the fuel tanks in our sail boat.
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Re: When to draw your social security?

Unread postby Cog » Thu 24 Nov 2016, 05:58:54

When a homeless guy asks to bum some money off you, simply tell him "Money is an illusion and you would be better off without it."

Post results here.
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Re: When to draw your social security?

Unread postby Tikib » Thu 24 Nov 2016, 07:37:17

Nothing has any value.
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Re: When to draw your social security?

Unread postby vtsnowedin » Thu 24 Nov 2016, 10:49:48

$this->bbcode_second_pass_quote('Tikib', 'N')othing has any value.

What about" old dogs ,and children and watermelon wine?"
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Re: When to draw your social security?

Unread postby Pops » Thu 24 Nov 2016, 11:42:09

not a thing in this world worth a solitary dime but

lol no wonder I need gov support, too much grey space devoted to drinkin songs
The legitimate object of government, is to do for a community of people, whatever they need to have done, but can not do, at all, or can not, so well do, for themselves -- in their separate, and individual capacities.
-- Abraham Lincoln, Fragment on Government (July 1, 1854)
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Re: When to draw your social security?

Unread postby Newfie » Thu 24 Nov 2016, 11:49:24

$this->bbcode_second_pass_quote('Cog', 'W')hen a homeless guy asks to bum some money off you, simply tell him "Money is an illusion and you would be better off without it."

Post results here.


A homeless guy is in effect asking me for some of my productivity, my effort. It works because we agree to the illusion. Someday the illusion will go away because we no longer collectively agree. Then the bum will ask me for some bread.

In the meantime my answer is a simple but dignified "No."
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Re: When to draw your social security?

Unread postby Plantagenet » Thu 24 Nov 2016, 12:18:54

$this->bbcode_second_pass_quote('Tikib', 'N')othing has any value.



Have a great day!
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Re: When to draw your social security?

Unread postby Shaved Monkey » Sat 26 Nov 2016, 05:04:52

$this->bbcode_second_pass_quote('Cog', 'W')hen a homeless guy asks to bum some money off you, simply tell him "Money is an illusion and you would be better off without it."

Post results here.

I just gave a homeless women at the airport $15 she didnt want it I forced her to take it.

She was Kiwi in Australia, they get no social security until they have been there 10 years, she was 5 months short.
She was sleeping in the airport because she felt safer than in her car.
She was waiting for a court case against her former employer and has gone bust in the process.

Australia stopped paying SS security to Kiwis for 10 years but we can go to NZ and get SS and citizenship straight up.
If I go and retire in NZ I can also get my pension nearly 3 years earlier and my private super and assets arent counted so my pension doesnt reduce even if Im filthy rich.
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Re: When to draw your social security?

Unread postby Newfie » Sat 26 Nov 2016, 10:27:15

Shaved,
While I don't know about your neck of the woods here in the USA there are a wide range of homeless. Some, too many, like yours.

But we also have the very visible who and drugger community that is on the stree, in your window, in your face. Poor and miserable souls they are. But giving them a fiver is no guarantee they will use it as you wish. Food seems to be of little concern, they eat relatively well, if undignified, dumpster diving behind nice hotels. Showers, restrooms, and beds are their issue. A casual fiver isn't gonna fix that.

I think Cog and I had the same general image, I hope.
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Re: When to draw your social security?

Unread postby vtsnowedin » Wed 01 Feb 2017, 17:37:23

To close out this thread I'll say that I have applied for and been approved for benefits starting in May. I'm thinking about building up a stock portfolio with a good share of the money to build the family wealth in a way that will outlast me.
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Re: When to draw your social security?

Unread postby Outcast_Searcher » Wed 01 Feb 2017, 17:40:54

$this->bbcode_second_pass_quote('Tikib', 'N')othing has any value.

While that might get you a good grade in an Existentialism class, good luck adopting that as a value for a life strategy.

Oh .... that's right, you CAN'T if nothing has any value.

As long as you stay in your own echo-chamber living as a hermit, you should do just fine with that idea.
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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Re: When to draw your social security?

Unread postby Outcast_Searcher » Wed 01 Feb 2017, 17:51:45

$this->bbcode_second_pass_quote('Shaved Monkey', '
')Australia stopped paying SS security to Kiwis for 10 years but we can go to NZ and get SS and citizenship straight up.
If I go and retire in NZ I can also get my pension nearly 3 years earlier and my private super and assets arent counted so my pension doesnt reduce even if Im filthy rich.

(Red font above mine, for emphasis).

This is one place where I think the (government) social insurance systems have it wrong.

IMO, it should be social INSURANCE for a reason.

If you "make it" and retire with "enough" income (by some hopefully reasonable and objective standard set by society), then congratulations, you made it, and you don't need Social Security (to use the US as an example).

Everyone would still get Medicare at 65, due to the horrendous cost of medical care (and that in the US, you basically can't get ANY medical insurance from age 65, except for add-ons to medicare). Obviously it could be phased out, or better yet, this wouldn't happen until someone had enough income that there was no reasonable doubt that they don't "need" SS to get by (presuming they keep their medicare).

Now, I know a lot of people don't like this idea, but it truly would be consistent with the idea of social INSURANCE. It also would help fund SS without raising the rates as a burden to the working class.

And note: I'm talking what I think is right here, which is the opposite of what would be best for me personally. Any "reasonable" income level I think they'd choose would make me ineligible for SS, and that's fine with me if that standard were applied consistently.
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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Re: When to draw your social security?

Unread postby Shaved Monkey » Thu 02 Feb 2017, 22:20:46

In Australia it reduces depending on how much money you have.

It really is whether its considered a basic wage or a subsidy for the poor.
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Re: When to draw your social security?

Unread postby vtsnowedin » Sat 04 Feb 2017, 12:05:03

$this->bbcode_second_pass_quote('Shaved Monkey', 'I')n Australia it reduces depending on how much money you have.

It really is whether its considered a basic wage or a subsidy for the poor.

Well as only five percent are truly rich and your taxed on every dollar plus your employer has had to match it you should get your investment back regardless of how well you have done otherwise. For many it amounts to a half pay retirement after forty years of work. (The US uses your highest 35 years to calculate your benefit.)
On top of that I think the payout should be free from both Federal, State and local taxes regardless of where you live.
As to the poor working people, they get a raw deal as they made less so get less back plus have two workers paying in and only getting back the benefits earned by the top earner. A poor working wife gets back nothing for every penny of tax she paid.
I don't know why the women in America are not up in arms about this far more then they are about who pays for their birth control?
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Re: When to draw your social security?

Unread postby Cog » Sat 04 Feb 2017, 13:14:32

I don't think you are correct about that VT. My wife will draw social security just as I will. She will draw less because she made less in her career than I did. If our wages would have been equal over our working lives, she would draw the same as I would. If I die, she can draw a greater amount using my social security as her basis.
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Re: When to draw your social security?

Unread postby vtsnowedin » Sat 04 Feb 2017, 13:58:59

$this->bbcode_second_pass_quote('Cog', 'I') don't think you are correct about that VT. My wife will draw social security just as I will. She will draw less because she made less in her career than I did. If our wages would have been equal over our working lives, she would draw the same as I would. If I die, she can draw a greater amount using my social security as her basis.

Your wife has option of drawing one half of your social security or if her earnings were high enough her own account, whichever is higher but not both.
Let's consider two couples both of which made on average 45K a year in today's dollars
First couple had the husband make it all and the wife stayed at home and played golf or took care of the kids. When they retire he gets 2083 a month and she gets 1043 or up to the maximum family benefit. They paid in $102,000 in constant dollars in tax.
Couple #2 had wife make 15,000 a year and hubby 30,000 and paid in the same $102,000 but they retire on 1250 a month for him and 600 a month for her.
When the husbands die first the wives move up to the survivor benefit of 2083 and 1250 respectively but the poor working wife always loses all the tax she paid.
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Re: When to draw your social security?

Unread postby vtsnowedin » Sat 04 Feb 2017, 15:32:09

$this->bbcode_second_pass_quote('pstarr', 'C')og, vt you are pair of socialist saps you. That money the government stole is not coming back. Peak oil collapse, astronomical gov/private debt, and explosive hyperinflation will compost those IOU's into garbage. Should of invested your life and earnings in the underground economy. Pot farming was the way to go. Not with illegal unconstitutional government takings.

I know a few people that have tried pot farming. Some made out OK and others went to jail or lost everything to the lawyers that kept them out. SS taxes are just part of the significant share of my income I have paid out in taxes over the years. If I can recoup a few years worth of monthly checks before it goes toes up I'm certainly not going to refuse it. One thing I know , If SS checks end the price of golf in Florida will go way down. :)
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Re: When to draw your social security?

Unread postby Cog » Sat 04 Feb 2017, 17:22:37

It wasn't like it was an option for me to opt out of social security. Its the law that my employer withdrew it from my paycheck and matched it. Had it been my option I would have invested it in the market. Like VT, it is a part of my future income(or its not) but my investments are the larger part.

If everything goes to hell as the doomers predict(pray for daily) then I will be poor. I've been poor before.
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Re: When to draw your social security?

Unread postby Outcast_Searcher » Sat 04 Feb 2017, 20:41:40

$this->bbcode_second_pass_quote('vtsnowedin', '')$this->bbcode_second_pass_quote('Shaved Monkey', 'I')n Australia it reduces depending on how much money you have.

It really is whether its considered a basic wage or a subsidy for the poor.

Well as only five percent are truly rich and your taxed on every dollar plus your employer has had to match it you should get your investment back regardless of how well you have done otherwise. For many it amounts to a half pay retirement after forty years of work. (The US uses your highest 35 years to calculate your benefit.)
On top of that I think the payout should be free from both Federal, State and local taxes regardless of where you live.
As to the poor working people, they get a raw deal as they made less so get less back plus have two workers paying in and only getting back the benefits earned by the top earner. A poor working wife gets back nothing for every penny of tax she paid.
I don't know why the women in America are not up in arms about this far more then they are about who pays for their birth control?

What are you talking about? If you have two married workers and they both work the required 10 years or more, then they can both draw social security. Even if one of them made MUCH more than the other, or both are "poor". My parents did, my girlfriends' parents did, etc.

Why make such stuff up?

I did a search on the poor not getting SS, and found this good, relevant link from SS:

https://www.ssa.gov/policy/docs/ssb/v71n2/v71n2p17.html

$this->bbcode_second_pass_quote('', '
')Almost 95 percent of never-beneficiaries have insufficient work histories to gain Social Security coverage. Within this group we identify three mutually exclusive categories: late-arriving immigrants (55.1 percent), infrequent workers (34.7 percent), and noncovered workers, of whom most are state and local government employees (4.7 percent).


So the people not getting it sound like they aren't SUPPOSED to get it, due to the rules. That isn't a problem, IMO.

You're in the strong majority that everyone should get paid. Which is why people like Bill Gates and Warren Buffett will get SS, but it's running out of money over time. To me, that makes zero sense.
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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