New SSA Retirement Estimator

At age 70, your monthly benefit will be about...$2,996.00
At age 62, your monthly benefit will be about...$1,687.00.
At full retirement age (67 Years and 00 Month(s) for you), your monthly benefit will be about...$2,416.00.
 
ok so then do the math... If you take at 62years old you will have 8years or 96 payments of 1687.
That = 161,952

If you wait till 70 you will receive 2996 per year. Now say u live till 78years old. thats 96 payments = 287,616

But if you had taken at 62 and live till 78 you will have received 192 payments of 1687 or 323,904.

So then where is the break even?
Break even is at 18.333 years if you start taking at 62 so just over 80 years old.

If you think your gonna live past 80 then wait. For me Im taking the money early.
 
Chapdog said:
ok so then do the math... If you take at 62years old you will have 8years or 96 payments of 1687.
That = 161,952

If you wait till 70 you will receive 2996 per year. Now say u live till 78years old. thats 96 payments = 287,616

But if you had taken at 62 and live till 78 you will have received 192 payments of 1687 or 323,904.

So then where is the break even?
Break even is at 18.333 years if you start taking at 62 so just over 80 years old.

If you think your gonna live past 80 then wait. For me Im taking the money early.
Click to expand...

ROFLMAO... no my friend, you will not be taking your money early. I hate to be the bearer of bad news, but the idiots in DC are going to wait too long to try and solve the SS funding problem. You and I and everyone else in our generation will see nothing from SS but the one finger salute.
 
Superfreak said:
ROFLMAO... no my friend, you will not be taking your money early. I hate to be the bearer of bad news, but the idiots in DC are going to wait too long to try and solve the SS funding problem. You and I and everyone else in our generation will see nothing from SS but the one finger salute.
Click to expand...
Or they'll raise the benefit age requirement to 104.
 
Superfreak said:
ROFLMAO... no my friend, you will not be taking your money early. I hate to be the bearer of bad news, but the idiots in DC are going to wait too long to try and solve the SS funding problem. You and I and everyone else in our generation will see nothing from SS but the one finger salute.
Click to expand...

nah they will fix it.. all they have to do is just lift the cap on income that gets hit with ssi.. 0-100K and u have tax.. 100-250K no tax. then 250k wealth ssi tax again maybe at a lower percent.
 
It is not so much a funding problem as the idiots spent the 2+ trillion surplus. Now they will have to begin funding the projected shortfall from general funds in a few years. that will hurt.
I think it has been part of the Republican plan all along to help cut social programs.
 
if they cut my ss benefits or raise the age im gonna just take my fair share out of what i file for taxes. i suggest everyone do the same. they cant arrest us all..

Either that or with these rediculous taxes around MA and them talking about raising the gas tax while we are in the middle of this crisis I think maybe another Boston tea party is in order.
 
Chapdog said:
if they cut my ss benefits or raise the age im gonna just take my fair share out of what i file for taxes. i suggest everyone do the same. they cant arrest us all..

Either that or with these rediculous taxes around MA and them talking about raising the gas tax while we are in the middle of this crisis I think maybe another Boston tea party is in order.
Click to expand...

They won't have to arrest ya. Ever hear of Garnished wages ?

boston tea party ? Yeah right a geratric tea party. Let me get my walker, be right there.
 
they wont even know. i can talk circles around these IRS first line buffoon's.

People that work in auditing at the IRS for that shitty pay and 930-330 work hours are the bottom of the barrel.. or are lazy.
 
Chapdog said:
they wont even know. i can talk circles around these IRS first line buffoon's.

People that work in auditing at the IRS for that shitty pay and 930-330 work hours are the bottom of the barrel.. or are lazy.
Click to expand...
The C students from accounting class. The smart ones went to Wall Street, Banks, Insurance, the Big 6.

Some years ago when the S&L failure pulled GICs (Guaranteed Insurance Contracts) down, those who suffered a loss were entitled to write off. If SS insurance fails to fulfill, then we should be entitled to write off the lost value in the same manner.
 
Troglodyte27 said:
The C students from accounting class. The smart ones went to Wall Street, Banks, Insurance, the Big 6.

Some years ago when the S&L failure pulled GICs (Guaranteed Insurance Contracts) down, those who suffered a loss were entitled to write off. If SS insurance fails to fulfill, then we should be entitled to write off the lost value in the same manner.
Click to expand...

Those kinds of things are only for biggies, individuals do not get them. It is the American way.
 
Troglodyte27 said:
The C students from accounting class. The smart ones went to Wall Street, Banks, Insurance, the Big 6.

Some years ago when the S&L failure pulled GICs (Guaranteed Insurance Contracts) down, those who suffered a loss were entitled to write off. If SS insurance fails to fulfill, then we should be entitled to write off the lost value in the same manner.
Click to expand...

thats a start but i want 100% of that reduced benefit back from taxes. not just a write off.

If they raise the age to collect by a year then i will find a way to keep 20,244 (1,687.00x12) more of my tax bill and not lose a wink of sleep over it or have any karma.

Nobody likes someone or some business who fucks you over.
 
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