Easy fix for our economy

[Pegasus1300]

SS takes your 5 highest years earnings to determine what your benefit will be up to a maximum amount.It doesn't matter when those 5 years were or how long ago.Mine where back in the early nineties. I started to collect at 62( two years ago) but the other investments went south so now I am back to work which in the end will boost my benefit when I do finially quit if I ever can.If you are covered by SS be sure to talk to them and don't go by hearsay information.There are also other ways to increase your benefit that many do not know about,so read study and talk to SS.

[Jerry W]

And what percentage of what you were making when you retired is your benefit?

 

My social security benefits were reduced by 25% from what I would have gotten had I waited until I was 65 to start drawing. The break even point in drawing the same total amount of money had between 62 & 65 would make me 74 years old when the total money was the same.

 

Exact dollar amounts of what I am drawing are 100% none of your business. I don't discuss details of my personal finances with just anyone.

 

However on Social Security, I will defer to your vast and superior knowledge since you have stated you are not eligible to draw. All I have to go on is the yearly statements I received, numerous personal visits with a Social Security associate and the fact that I am drawing.

[rickardracing]

Never ceases to amaze me at how easy it is to get a pi$$ing contest started.

[hig4s]

My social security benefits were reduced by 25% from what I would have gotten had I waited until I was 65 to start drawing. The break even point in drawing the same total amount of money had between 62 & 65 would make me 74 years old when the total money was the same.

 

Exact dollar amounts of what I am drawing are 100% none of your business. I don't discuss details of my personal finances with just anyone.

 

However on Social Security, I will defer to your vast and superior knowledge since you have stated you are not eligible to draw. All I have to go on is the yearly statements I received, numerous personal visits with a Social Security associate and the fact that I am drawing.

 

 

I didn't ask for any dollar amounts, or the percent it was reduced. But what percent of your wage from your last few years, which I assumed would be your highest paying years. Obviously I was wrong there, so will rephrase, what percentage of your highest years monthly wage is your monthly SS benefit?

 

If you don't want to answer fine, but you seem to be getting defensive. There is no need for that or to be rude.

[Trader]

just to be sure....the original post was VERY MUCH "tongue in cheek"...meaning not really intended to be taken seriously...just a fun idea!

 

Didn't mean to get anyone started on any rants or anything!

 

By the way...I was told that in Canada it is the based on the best 5 of the last 10 years before you start drawing. I retired when I was 52 after 35 years of paying the maximum into the system...(more correctly went self employed).

 

But.... I will be drawing the absolute minimum because I will not have contributed a dime for the last 10 years before I draw.