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Re: Social Security
[Re: white marlin]
#6433070
01/18/19 10:15 PM
01/18/19 10:15 PM
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Joined: Nov 2018
Posts: 189
ny
hudsonfur
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trapper
Joined: Nov 2018
Posts: 189
ny
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I read somewhere (many years ago), that the average "pay back" time (the amount of time to recoup your payments into the system) was seven years. once you live a day past that, you're on OTHER people's dime. welfare, is another word for it. So you aren't going to collect SS, or use any Gov't health insurance when you retire?
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Re: Social Security
[Re: hudsonfur]
#6433071
01/18/19 10:15 PM
01/18/19 10:15 PM
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Joined: Aug 2008
Posts: 17,356
ny
upstateNY
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trapper
Joined: Aug 2008
Posts: 17,356
ny
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If I start collecting when I am 62 and live till my 90's I will make out pretty good. Along with my pension I will buy a nice retirement house on a lake and fish everyday for the rest of my life. And IF my dog didn't stop to take a crap,,he would have cought the rabitt.
the wheels of the gods turn very slowly
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Re: Social Security
[Re: white marlin]
#6433080
01/18/19 10:21 PM
01/18/19 10:21 PM
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Joined: Aug 2008
Posts: 17,356
ny
upstateNY
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trapper
Joined: Aug 2008
Posts: 17,356
ny
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I read somewhere (many years ago), that the average "pay back" time (the amount of time required to recoup your payments into the system) was seven years. once you live a day past that, you're on OTHER people's dime. welfare, is another word for it. You don't work for a living and get a pay stub?If you did,,and you could actually add two plus two without working up a sweat,,you would know that what you read was incorrect.
the wheels of the gods turn very slowly
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Re: Social Security
[Re: hudsonfur]
#6433081
01/18/19 10:21 PM
01/18/19 10:21 PM
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Joined: Jan 2007
Posts: 7,005
central Haudenosaunee, the De...
white marlin
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Joined: Jan 2007
Posts: 7,005
central Haudenosaunee, the De...
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So you aren't going to collect SS, or use any Gov't health insurance when you retire? most likely, you will have spent my SS payments. I don't think there's a choice in Medicare...once you're 65, you're in (unless you're independently wealthy...and I'm just a working man)
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Re: Social Security
[Re: Bigbuck]
#6433082
01/18/19 10:22 PM
01/18/19 10:22 PM
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Joined: Nov 2018
Posts: 189
ny
hudsonfur
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trapper
Joined: Nov 2018
Posts: 189
ny
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Re: Social Security
[Re: upstateNY]
#6433084
01/18/19 10:23 PM
01/18/19 10:23 PM
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Joined: Jan 2007
Posts: 7,005
central Haudenosaunee, the De...
white marlin
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Joined: Jan 2007
Posts: 7,005
central Haudenosaunee, the De...
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You don't work for a living and get a pay stub?If you did,,and you could actually add two plus two without working up a sweat,,you would know that what you read was incorrect. never ran the numbers, but I'd bet it's right! what's ss...6 percent? if you're living on that, how long would it take to run out of what you paid in? You're not living on 6 percent of your working income...
Last edited by white marlin; 01/18/19 10:25 PM.
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Re: Social Security
[Re: white marlin]
#6433085
01/18/19 10:25 PM
01/18/19 10:25 PM
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Joined: Aug 2008
Posts: 17,356
ny
upstateNY
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trapper
Joined: Aug 2008
Posts: 17,356
ny
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You don't work for a living and get a pay stub?If you did,,and you could actually add two plus two without working up a sweat,,you would know that what you read was incorrect. never ran the numbers, but I'd bet it's right! You talk like a ten year old.You "never ran the numbers" cause your either too lazy or don't know how.
Last edited by upstateNY; 01/18/19 10:26 PM.
the wheels of the gods turn very slowly
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Re: Social Security
[Re: bblwi]
#6433086
01/18/19 10:26 PM
01/18/19 10:26 PM
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Joined: Dec 2010
Posts: 12,151
Armpit, ak
Dirt
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Joined: Dec 2010
Posts: 12,151
Armpit, ak
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YOU DO NOT HAVE TO PARTICIPATE. THERE ARE OPTIONS FOR YOU NOT TO. If you don't want to pay in you do not have to, especially if you work for smaller employers or you are self employed. Just remember you will not receive any either. You may want to check out if the Medicare portion is lost as well. I have done taxes for those opting out of SS so you can do it. Instead of complaining e-mail the IRS or talk with a good CPA and they can help you accomplish your goal.
Bryce You keep posting this. There are opt out options on the SSA website, which are very limited. I suppose, if you wanted to try and scam one of these, it would be possible? I may just email the IRS for fun. Somebody should. Somehow, I think I would just get a reprint of what is on the website.
Who is John Galt?
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Re: Social Security
[Re: Bigbuck]
#6433090
01/18/19 10:30 PM
01/18/19 10:30 PM
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Joined: Jan 2007
Posts: 7,005
central Haudenosaunee, the De...
white marlin
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trapper
Joined: Jan 2007
Posts: 7,005
central Haudenosaunee, the De...
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You talk like a ten year old.You "never ran the numbers" cause your either too lazy or don't know how.
so, take 6 percent of your income and try to live on that for a year...how long could you do that? if you can live on JUST Social Security alone, God Bless you...I can't!
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Re: Social Security
[Re: Bigbuck]
#6433097
01/18/19 10:41 PM
01/18/19 10:41 PM
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Joined: Dec 2010
Posts: 12,151
Armpit, ak
Dirt
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Joined: Dec 2010
Posts: 12,151
Armpit, ak
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Bryce, if I start a Pentecostal church here in the Armpit and call myself the minister, can I exempt only my minister pay, or can I also exempt all my self- employment income from my other work?
P.S. Does exempting this late in the game mean I get all my previous payments back in a lump sum?
Who is John Galt?
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Re: Social Security
[Re: white marlin]
#6433116
01/18/19 10:55 PM
01/18/19 10:55 PM
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Joined: Aug 2008
Posts: 17,356
ny
upstateNY
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Joined: Aug 2008
Posts: 17,356
ny
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So,,if you retire at 68,,,then after your 81,,you start making out...HAHAhahahhaha.How long you gonna live there mr mathmaholic?
the wheels of the gods turn very slowly
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Re: Social Security
[Re: Bigbuck]
#6433121
01/18/19 10:58 PM
01/18/19 10:58 PM
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Joined: Nov 2009
Posts: 843
NH
sgs
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Joined: Nov 2009
Posts: 843
NH
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"I read somewhere (many years ago), that the average "pay back" time (the amount of time required to recoup your payments into the system) was seven years.""According to the Congressional Research Service, an average earner retiring this year at 65 would take 18.8 years to recover employer-employee Social Security taxes for Old-Age and Survivors Insurance plus interest (taking into account future cost of living adjustments and continued accrual of interest). This compares favorably to life expectancy at 65 of 15.4 years for men and 19.2 for women." https://www.nytimes.com/1995/08/28/opinion/l-how-long-to-recoup-social-security-tax-232795.html
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Re: Social Security
[Re: upstateNY]
#6433126
01/18/19 11:00 PM
01/18/19 11:00 PM
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Joined: Jan 2007
Posts: 7,005
central Haudenosaunee, the De...
white marlin
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trapper
Joined: Jan 2007
Posts: 7,005
central Haudenosaunee, the De...
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So,,if you retire at 68,,,then after your 81,,you start making out...HAHAhahahhaha.How long you gonna live there mr mathmaholic? many people retire (take ss) at 62, so 13 years later = 75 years old. once you're past 75, (on average) you're taking someone ELSE'S money to live on.
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Re: Social Security
[Re: sgs]
#6433131
01/18/19 11:04 PM
01/18/19 11:04 PM
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Joined: Aug 2008
Posts: 17,356
ny
upstateNY
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Joined: Aug 2008
Posts: 17,356
ny
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Upstate is faster on the reply than me.  Your not going to explain anything to someone like him anyhow.
the wheels of the gods turn very slowly
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