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Jul 29, 2021
2:54
:01
pm
TomPetty
Intervention Needed
what interest rate and inflation rate are you using?
At a higher discount rate (and lower inflation) the more it makes sense to take the money early.
This message has been modified
Originally posted on Jul 29, 2021 at 2:54:01pm
Message modified by TomPetty on Jul 29, 2021 at 2:54:33pm
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TomPetty
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TomPetty
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Messages
Author
Time
POLL: At what age do you plan on taking your SS payments?
kccougar
Intervention Needed
7/29/21 2:18pm
won't be a thing when I go to retire.
Mayor of Cougartown
7/29/21 2:19pm
Yes it will
LiveCoug
7/29/21 2:19pm
I think he's 7 years-old
Conan
7/29/21 2:34pm
Um, have you seen our government lately? Who do you think is going to remove benefit payments?
kccougar
7/29/21 2:20pm
good point. won't stop unless china demands payment or will invade.
Mayor of Cougartown
7/29/21 2:21pm
How much debt is to China? Spoiler.. less than people think.
cougcoug3
7/29/21 2:32pm
Much, much less
UpperCirqueUte
7/29/21 2:35pm
Demand payment in dollars?!? That ain't hard to pay
TomPetty
7/29/21 2:32pm
How come? Even if nothing is done and it becomes a pay-as-you-go plan in 11-14
basman
7/29/21 2:22pm
You mean because of UBI? 🙂
TomPetty
7/29/21 2:23pm
This thought is insane
JOPE
7/29/21 2:29pm
I know I'm must messing around. With how no one saves we'd have starving oldos
Mayor of Cougartown
7/29/21 2:44pm
But the 30 or 40% who don't save help the others get rich
TomPetty
7/29/21 2:52pm
MOre like 80-90%
Turnpike Lane
7/29/21 3:02pm
Most people save some money after age 45.
TomPetty
7/29/21 3:46pm
Not go away completely, but I could see the govt saying you don’t qualify if
stenso
7/29/21 3:39pm
Never. There will not be any by the time I retire
Mr. Rumsfield
7/29/21 2:19pm
RE: POLL: At what age do you plan on taking your SS payments?
Salami Karate
7/29/21 2:19pm
What are these payments you speak of?
Ironhide
7/29/21 2:20pm
Yeah, because the federal government has shown they are really interested on reducing handouts.
kccougar
7/29/21 2:21pm
I'm just not planning on it.
Ironhide
7/29/21 2:22pm
There will be SS. The currency will just be so inflated that the distribution
Backcountry
7/29/21 3:20pm
Because government has shown a great propensity to limit handouts.
kccougar
7/29/21 3:23pm
And destroy currency
Backcountry
7/29/21 3:50pm
RE: POLL: At what age do you plan on taking your SS payments?
MormonDevil
7/29/21 2:20pm
I wasn’t going to take it until 70, but am doing it at 67 so that it can go
Nat Gas Man
7/29/21 2:20pm
A SocSec expert told me that 67 is the break even point
Florwood
7/29/21 3:06pm
Yep, it is 8% addition for each year. The vast majority take it at 62
Nat Gas Man
7/29/21 3:12pm
about 72.
Belboz
7/29/21 2:27pm
If my math is correct (and my math is rarely correct)
Sea Chicken
7/29/21 2:48pm
what interest rate and inflation rate are you using?
TomPetty
7/29/21 2:54pm
I'm not using any interest rate or inflation rate.
Sea Chicken
7/29/21 2:55pm
Life expectancy at 65 is 19 years for a male (+/- for health and improvement)
TomPetty
7/29/21 2:55pm
I expect to live past 90
Sea Chicken
7/29/21 2:58pm
Looking at the rules, if I am still working before age 67 my payout is reduced so that changes everything
Sea Chicken
7/29/21 3:04pm
At 62, the payout is 75% of the amount at age 67. At age 70 the payout is 125%.
hitechcpa
7/29/21 2:48pm
I've been thinking along those lines but how do you account for lost income between 62 and 67?
kccougar
7/29/21 3:09pm
Are you referring to the limitation on earned income between 62 and 66?
hitechcpa
7/29/21 3:22pm
Yes, and what do you mean by income management?
kccougar
7/29/21 3:24pm
I'm not going to put that into writing. But, I have a spouse and we file joint.
hitechcpa
7/29/21 3:26pm
Is venemous viper your previous board name?
kccougar
7/29/21 3:37pm
No, but I've been referred to as such.
hitechcpa
7/29/21 6:31pm
Given average life spans it equates to the same money IIRC
Nat Gas Man
7/29/21 3:25pm
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