Thread: SSI Benefits

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Originally Posted by angrystroker

I am sure there are more of the mindset, that says work as long as you can, stash cash, 401 and the likes. There is 1000 a month difference if someone holds out until 67. I believe that at that age you are forced to take the money. So if you plan right given todays calculation @ 67 ssi is about 3500 a month, compared to 2300 @ 62. Folks will say for 5 years the bump it to small to be a benefit, more is always more. Back that up with income from some planed investments and you could easily see 5k a month . This works providing you own your home and all the toys ie cars, hotrods.

I grew with lots of my friends that were going to retire at 55, the big dream of the 80s. They are now retired and board to death, they will not admit it but the conversations bring out the clues that tell the truth. Only can speak for myself but I like to work it keeps me thinking and gives me another reason to get up each day. Allows me to drive my hotrod and not care about gas mileage and have the $$ to fix or upgrade. People that think that they need to bail because they aren't going to get what they put in........... Well they are exactly right and nobody does so they need to stick around and get all they can.

Stroker,
I don't know what profession you & your buddies have worked, but the monthly SS payments you're quoting are about 20% high on the early number and more than 30% on your top number, in my experience. They calculate the monthly benefit based on your five years of highest contribution, and it's a line of diminishing returns, as I recall - i.e., if a person makes 30% more annually that results in a much smaller percentage increase from the SSA, like maybe 5%?? I hope those numbers are right for you, and that the funding continues until you get back what you paid in, and more.

As for the gray hairs "getting even", I'd like to hear how anyone is going to "get even" with a lame duck president, or even with senators and representatives who have their own seperate retirement system, totally apart from the SSA. They've all already got their lifetime pension lined up, and anyone who thinks different - well, I'd like to know how it feels to try to see through wool? But like Bob said, this is not the thread to get into bashing the politicians, right?