• "Spreading the ideas of freedom loving people on matters regarding metals, finance, politics, government and many other topics"

for you oldsters

Scorpio

для продажи слегка подержанный
Founding Member
Board Elder
GIM Hall Of Fame
Joined
Mar 25, 2010
Messages
33,326
Reaction score
54,162
ok, I am going to jump into my adviser role for you youngsters,

here is what you do with the current max earnings for SS tax being $142,800

you go out and get 10 $15,000 per year jobs,
wendy's is hiring, mcdonalds is hiring, china mart is hiring, ho chi minh's convenience store, is hiring, etc.
they are all hiring

now comes your stategy,
you show up at the first, get clocked in, grab a broom and brustle around a bit, and off you go to the next,
show up with the broom you hiked from the first, get clocked in, and tell 'em you are heading for the dumpster,
off to the next and so on until you are clocked at all of them,

then you take a short break, you 'earned' it,
now you have to reverse the process, and go around clocking out at all of them

keys to this, keep your employers grouped together to minimize drive/walk time
and by all means, smile and serve as you go, take care of your employers,
and of course, return the broom or mop bucket or whatever each day
 

Hystckndle

SWEATEQUITYIS$$$
Board Elder
Midas Member
Midas Supporter ++
GIM Hall Of Fame
Joined
Mar 28, 2010
Messages
7,976
Reaction score
11,979
Location
Central Florida
FICA = Federal Insurance Contribution Act
FDR sold his great ponzi scheme as an insurance plan. Some years later the Courts declared it a tax so now, as we know, it is just another tax and spend program that has been expanded to cover assorted people that never paid in to the system. For years the monthly benefits were never taxed until 1983 after a Senate vote where Al Gore cast the deciding vote as Senate president to make it taxable. See...once again the Democrats tax your pay to grab the money and then later on when you collect the benefits you supposedly paid for they tax you again on it. Sort of a tax on a tax depending on how you look at it. The wonders of the Democrat party that looks out for the blue collar working person...

Thanks for the Gore information. Connected a dot or two for me.
 

engineear

Platinum Bling
Sr Site Supporter
Platinum Bling
Joined
Mar 11, 2011
Messages
5,714
Reaction score
9,142
Location
North of the Wall
FICA = Federal Insurance Contribution Act
FDR sold his great ponzi scheme as an insurance plan. Some years later the Courts declared it a tax so now, as we know, it is just another tax and spend program that has been expanded to cover assorted people that never paid in to the system. For years the monthly benefits were never taxed until 1983 after a Senate vote where Al Gore cast the deciding vote as Senate president to make it taxable. See...once again the Democrats tax your pay to grab the money and then later on when you collect the benefits you supposedly paid for they tax you again on it. Sort of a tax on a tax depending on how you look at it. The wonders of the Democrat party that looks out for the blue collar working person...
But, also include this...if "I invented the interwebs" Al Gore was the DECIDING VOTE, how many repubes voted his way?
Bassturds all!!

Also, y'all know our elected leaders don't have social security but a much better retirement plan for life, even if they serve only 1 term! What a country...once you're in The Club!
 

Unca Walt

Midas Member
Midas Member
Site Supporter ++
Joined
Mar 15, 2011
Messages
15,357
Reaction score
30,919
Location
South Floriduh
(*snork*) I had some low-pay years. At one time, my military pay was a whopping $18/month more than Custer's pony sojers. <-- TINS
 

Goldbrix

Mother Lode Found
Mother Lode
Midas Supporter ++
Joined
Apr 4, 2010
Messages
20,540
Reaction score
32,247
OR You could do what this guy did:

A Car Park attendant who fooled everybody for over 20-years.​

1636895762685.png

"This guy was the perfect Robin Hood, only he kept the proceeds for himself. As my father used to say … “charity starts at home”. He didn’t include car washes or anything special, he followed the cardinal rule of success. Keep it simple! Cheap parking.....
A man at the Bristol Zoo in the United Kingdom has been collecting money off every car parked in the car park attached to the zoo. Nobody is entirely sure when (exactly) he started but it was definitely recorded as more than 20-years ago. It is thought, he has been doing this for between 20 and 25 years. He charges 3 quid per car for parking and is an institution in Bristol – everybody knew him. Or thought they did. Teenage kids who befriended him when brought by parents, introduced their children to him years later.....
His only investment was a high-vis jacket and a cheap sign. Brilliant.
On the Monday morning he didn’t arrive, the A-frame car park sign had a note stuck to it saying –

“Parking Attendant Retired to Spain”.

I remembered this and looked it up.
More Here if interested: https://medium.com/the-haven/a-car-park-attendant-who-fooled-everybody-for-over-20-years-2095575bbf9
 

Fiat Metaler

Gold Member
Gold Chaser
Joined
Apr 2, 2010
Messages
2,212
Reaction score
1,538
OR You could do what this guy did:

A Car Park attendant who fooled everybody for over 20-years.​

View attachment 232322
"This guy was the perfect Robin Hood, only he kept the proceeds for himself. As my father used to say … “charity starts at home”. He didn’t include car washes or anything special, he followed the cardinal rule of success. Keep it simple! Cheap parking.....
A man at the Bristol Zoo in the United Kingdom has been collecting money off every car parked in the car park attached to the zoo. Nobody is entirely sure when (exactly) he started but it was definitely recorded as more than 20-years ago. It is thought, he has been doing this for between 20 and 25 years. He charges 3 quid per car for parking and is an institution in Bristol – everybody knew him. Or thought they did. Teenage kids who befriended him when brought by parents, introduced their children to him years later.....
His only investment was a high-vis jacket and a cheap sign. Brilliant.
On the Monday morning he didn’t arrive, the A-frame car park sign had a note stuck to it saying –

“Parking Attendant Retired to Spain”.

I remembered this and looked it up.
More Here if interested: https://medium.com/the-haven/a-car-park-attendant-who-fooled-everybody-for-over-20-years-2095575bbf9

That is what the kids today woudl call a fucking legend!

I had a friend once collect a $10 cover at a bar in college for about an hour or so before he got scared. But a 20-25 year run is impressive!
 

Uglytruth

Super Moderator
Mother Lode
Midas Supporter ++
Joined
Apr 6, 2011
Messages
17,850
Reaction score
41,391
I emulated this guys spreadsheet,
Note how the indexing works.
IMHO the running out of GAS ( both energy and give a shite ) at the age of Haystack ( 60 ) is kind of already factored
into their set up.

I get irritated at watching the guy on his own 10 key :)
but it assisted me with learning about the so called bend points etc etc etc
Point of our whole thing is " a lot of years of earnings " may already be under your belt and the earlier years are factored
to get the AIME....which is how they base your monthly $.
Even goose eggs at the end does not mess with you IF you have been doing the " GIT ER DONE " stuff since
you were 11 or 12.
I ain t the expert at all mind you.
Just saying it REALLY helped me to understand it.
Back later,
" on the move "

Mistake at 2:48. He said 2032 but computer showed 2022. Have not watched until the end at this time of posting.
 

BigJim#1-8

Platinum Bling
Midas Supporter
Platinum Bling
Joined
Mar 31, 2010
Messages
5,748
Reaction score
23,757

andial

Stable young person
Midas Member
Site Supporter ++
Joined
Apr 1, 2010
Messages
723
Reaction score
1,042
You old guys crack me up, still clutching on to your FRNs, too funny.
 

Uglytruth

Super Moderator
Mother Lode
Midas Supporter ++
Joined
Apr 6, 2011
Messages
17,850
Reaction score
41,391
ok, I am going to jump into my adviser role for you youngsters,

here is what you do with the current max earnings for SS tax being $142,800

you go out and get 10 $15,000 per year jobs,
wendy's is hiring, mcdonalds is hiring, china mart is hiring, ho chi minh's convenience store, is hiring, etc.
they are all hiring

now comes your stategy,
you show up at the first, get clocked in, grab a broom and brustle around a bit, and off you go to the next,
show up with the broom you hiked from the first, get clocked in, and tell 'em you are heading for the dumpster,
off to the next and so on until you are clocked at all of them,

then you take a short break, you 'earned' it,
now you have to reverse the process, and go around clocking out at all of them

keys to this, keep your employers grouped together to minimize drive/walk time
and by all means, smile and serve as you go, take care of your employers,
and of course, return the broom or mop bucket or whatever each day
How many times do they need to change uniforms going from job to job? :winks2:
 

MrLucky

Gold Member
Gold Chaser
Sr Site Supporter
Survivor
Joined
Apr 27, 2011
Messages
2,446
Reaction score
3,460
Location
Rock <me> Hard-Place
I will be claiming my SS shortly. I wait until I turned 70. I waited this long for purely selfish reasons. I wanted my spouse to have the highest possible payment after my demise. My wife is younger and has better health than I. My father did it this way and as a result my mom, who outlived him by 14 years, was comfortable financially. Yes, the break even point is 83 yrs for 62, 65ish, 70. Dad beat the system by living to 89 and mom lived to 99. Hopefully I can follow in his footsteps.
 

Goldbrix

Mother Lode Found
Mother Lode
Midas Supporter ++
Joined
Apr 4, 2010
Messages
20,540
Reaction score
32,247
How many times do they need to change uniforms going from job to job? :winks2:
Turn over is so great around here the businesses use T-shirt & Vests or Polos. One back pack or Gym bag one would be Good to Go.
 

Goldbrix

Mother Lode Found
Mother Lode
Midas Supporter ++
Joined
Apr 4, 2010
Messages
20,540
Reaction score
32,247
I will be claiming my SS shortly. I wait until I turned 70. I waited this long for purely selfish reasons. I wanted my spouse to have the highest possible payment after my demise. My wife is younger and has better health than I. My father did it this way and as a result my mom, who outlived him by 14 years, was comfortable financially. Yes, the break even point is 83 yrs for 62, 65ish, 70. Dad beat the system by living to 89 and mom lived to 99. Hopefully I can follow in his footsteps.
Genes seldom lie.
I've already outlived my Mom and Dad. My grandfather on my Mom's side lived to 88. That is my only shot at longevity.
 

TAEZZAR

LADY JUSTICE ISNT BLIND, SHES JUST AFRAID TO WATCH
Midas Member
Sr Midas Sup +++
GIM Hall Of Fame
Survivor
Joined
Apr 2, 2010
Messages
23,607
Reaction score
49,606
Location
ORYGUN
Well, I collected ASAP, at 62, now at 79, I am happy I did it early.
You need the money earlier in life than later, if you even make it to later !!!
 

Tbonz

Gold Member
Gold Chaser
Joined
Jan 28, 2012
Messages
2,436
Reaction score
2,917
Location
Land of the Free
ok, I am going to jump into my adviser role for you youngsters,

here is what you do with the current max earnings for SS tax being $142,800

you go out and get 10 $15,000 per year jobs,
wendy's is hiring, mcdonalds is hiring, china mart is hiring, ho chi minh's convenience store, is hiring, etc.
they are all hiring

now comes your stategy,
you show up at the first, get clocked in, grab a broom and brustle around a bit, and off you go to the next,
show up with the broom you hiked from the first, get clocked in, and tell 'em you are heading for the dumpster,
off to the next and so on until you are clocked at all of them,

then you take a short break, you 'earned' it,
now you have to reverse the process, and go around clocking out at all of them

keys to this, keep your employers grouped together to minimize drive/walk time
and by all means, smile and serve as you go, take care of your employers,
and of course, return the broom or mop bucket or whatever each day
Had a group of buddies back in the 90's that got jobs with the park service in a major metropolitan area. Every day they met at a different park in the metro area, checked in at 8:00 AM sharp, at 8:15 they were off around town until 4:30pm to "check in and punch out." Great gig if you can find it. On a side note, they got more done in the 15 or so minutes than the lazy asses that worked the entire day. True story.
 

MrLucky

Gold Member
Gold Chaser
Sr Site Supporter
Survivor
Joined
Apr 27, 2011
Messages
2,446
Reaction score
3,460
Location
Rock <me> Hard-Place
There is no wrong answer as to when one decides to collect SS. Everyone's situation is different. The choice they make is what was right for them.
 

Hystckndle

SWEATEQUITYIS$$$
Board Elder
Midas Member
Midas Supporter ++
GIM Hall Of Fame
Joined
Mar 28, 2010
Messages
7,976
Reaction score
11,979
Location
Central Florida
I will be claiming my SS shortly. I wait until I turned 70. I waited this long for purely selfish reasons. I wanted my spouse to have the highest possible payment after my demise. My wife is younger and has better health than I. My father did it this way and as a result my mom, who outlived him by 14 years, was comfortable financially. Yes, the break even point is 83 yrs for 62, 65ish, 70. Dad beat the system by living to 89 and mom lived to 99. Hopefully I can follow in his footsteps.

Yes, similar situation here.
Congrats, Mr L, on getting through the system.
 

Casey Jones

Train left the station...
Gold Chaser
Joined
Apr 4, 2020
Messages
7,458
Reaction score
12,043
Location
Down the road from the Kaczynski ranch
Turn over is so great around here the businesses use T-shirt & Vests or Polos. One back pack or Gym bag one would be Good to Go.
That is so true. The slovenliness of America's workforce, is...a little thing, but getting hard to ignore.

Remember when gas station attendants wore uniforms, complete with billed caps? Typically a form of mechanic's coverall, but...workplace dress.

New York Thruway toll-takers wore jackets and ties. Even in McDonalds...the staff wore '70s polyester casual, but it was a uniform, and in its own way, not bad. Especially on curvy college coeds.

Not anymore. Everyone just wears that damn lime-green mesh "safety vest" with the business name printed on the back. Usually over grungy clothing...Locally, there's a mega car-wash that opened up a little over a year ago. They specialize in subscriptions - pay a monthly fee and wash your car twice a day if you want. Good for fleet vehicles and Uber drivers. They also give prepaid-card discounts, which is why I was using them.

They have a novel format...as they were hyping their opening, they used 1950s comic-book sketches, of pleased houswives and nerdy accountants with horn-rimmed glasses..."Cheaper than Therapy!" And some other slogans I forget. Nobody knew it was a car wash being advertised, until they opened.

With the whole staff in suits and ties. Cheap suits of material that could be washed, I'm sure - but, gas-station hats, white shirts, coats and raincoats.

I was there the other day...I knew the guys wiping cars down at the end of the line would dispense with the costume, but EVERYONE is just back to dirty tee-shirts with some slogan on them, and of course, the green mesh vests.
 

the_shootist

Mother Lode Found
Sr Midas Sup +++
Mother Lode
Joined
May 31, 2015
Messages
71,162
Reaction score
149,929
Well, I collected ASAP, at 62, now at 79, I am happy I did it early.
You need the money earlier in life than later, if you even make it to later !!!
^^^This most closely aligns with my current strategy^^^
 

Scorpio

для продажи слегка подержанный
Founding Member
Board Elder
GIM Hall Of Fame
Joined
Mar 25, 2010
Messages
33,326
Reaction score
54,162

What Income Reduces Social Security Benefits?​


Mark Henricks
Wed, November 17, 2021, 10:55 AM


Senior man at work
Senior man at work
If someone receiving Social Security benefits earns money by working, the Social Security Administration may reduce the amount of that person’s benefits. This only affects people who start taking benefits before reaching full retirement age. And only income earned from working has this effect. Other types of income, such as dividends, interest and capital gains from investments, aren’t counted by Social Security for this purpose. If you’ve got questions about working while getting Social Security benefits consult a financial advisor for expert guidance.
Earning While Receiving Social Security Benefits
Opting to receive Social Security retirement or survivor’s benefits does not mean you can’t get income from other sources. And extra money from a part-time job or from investments can help stretch a Social Security check and make retirement more comfortable.

However, people who opt to receive benefits before reaching full retirement ageage 67 for people born in 1960 or later – can only earn so much each year before Social Security starts reducing their benefits. The earnings cap is adjusted for inflation. For 2021, it is $18,960.
Once annual earnings reach the cap amount, for every $2 a Social Security recipient under retirement age earns from working, the total annual benefit gets reduced by $1. For instance, say a recipient gets $1,000 a month in benefits and starts a part-time job that pays $20,000 a year. Subtracting $18,060 from $20,000 yields $1,040. Dividing $1,040 by 2 gives $520. This is the amount by which Social Security will reduce the annual benefit.
People can earn $50,520 before reaching full retirement age without affecting their benefits. And the amount of reduction is also just $1 for every $3 earned over the cap.
In addition, income only counts against the cap until the month before full retirement age is reached. This means a person who reaches full retirement in November after earning $50,000 during the first 10 months of the year would have no reduction in benefits.
After full retirement age, there is no cap on earnings. A recipient can earn any amount without affecting their benefits. This starts with the month a Social Security recipient reaches full retirement age. So the recipient in the above example would continue to receive full benefits after reaching full retirement age in November, no matter how much he or she earns.
Income Sources
Senior woman working in a grocery store
Senior woman working in a grocery store
Not all income is equal when it comes to Social Security earnings caps. Generally, any income that comes from employment counts against the earnings cap. Here are examples of the kinds of income that count against the cap:
  • Wages and salary paid by an employer
  • Net income from self-employment
  • Bonuses
  • Commissions
  • Vacation pay
Income from sources other than working is not included. Some of the income sources that don’t affect Social Security benefits include:
  • Dividends
  • Interest
  • Capital gains
  • Rental income
  • Pensions
  • Annuities
  • Military and government retirement benefits
  • IRA distributions
  • Inheritances
  • Lawsuit settlements
Note that income earned before starting to receive Social Security does not count either. This could include stock options, back pay, bonuses and payments for unused vacation or sick leave. Even if these payments arrive after starting to receive benefits, they aren’t included against the cap as long as they were earned before benefits started.
More On Earning Income While Getting Benefits
If benefits get reduced because an underage Social Security recipient earns more than the cap amount, the money isn’t actually lost. It’s only delayed. After the recipient reaches full retirement age, Social Security will recalculate the benefit. The new benefit will be higher to make up for payments that were withheld because of excess earnings.
Sometimes, earning money while receiving Social Security can also increase your benefit amount. This can happen if, during a year you receive Social Security benefits, you earn enough money to make the year one of your highest earning years. Social Security calculates benefits based on a worker’s highest earning years. So adding a new high level to your earnings record could cause your benefit to increase.
There are different rules for people getting Social Security disability or Supplemental Security Income benefits. These people have to report all earnings to Social Security. In addition, people who earn money for working outside the U.S. are treated differently.
Keep in mind that Social Security uses an estimate for earnings during the coming year when calculating benefits. Recipients are expected to provide an earnings estimate to help the agency calculate benefits. If it appears that earnings will be different from the estimate, recipients are supposed to inform Social Security as soon as possible.
Bottom Line
Older man working on a farm
Older man working on a farm
Social Security recipients who have reached full retirement age can earn as much as they want from any source without it affecting their benefits. However, those who start taking benefits before reaching full retirement age may have their benefits reduced if they earn above a certain amount. Some types of income don’t count against the cap. Those include dividends, interest and capital gains from investments, as well as pensions, annuities and some other sources.
Tips on Retirement
  • Picking the right time to start claiming Social Security benefits can have an outsized effect on a retiree’s financial comfort level. Using an experienced and qualified financial advisor increases the chances of making this decision well. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors in your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
  • The annual payment you receive from Social Security is based on your income, birth year and the age at which you elect to begin receiving benefits. Use this free calculator to get an estimate of what you’ve got coming in the way of benefits.
Photo credit: ©iStock.com/dusanpetkovic, ©iStock.com/gpointstudio, ©iStock.com/valentinrussanov

 

gringott

"Internet Moofluencer"
Midas Member
Site Supporter ++
Joined
Apr 2, 2010
Messages
18,926
Reaction score
31,226
Location
Stable
Hey they hand you a cost of living increase historical due to inflation, then take it right back with medicare. Nice system they got there..
 

Irons

Outlaw Prospector
Midas Supporter
Mother Lode
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
32,300
Reaction score
66,020
I plan on cutting firewood, mowing grass and plowing snow for cash. F their caps.



.
 

Hystckndle

SWEATEQUITYIS$$$
Board Elder
Midas Member
Midas Supporter ++
GIM Hall Of Fame
Joined
Mar 28, 2010
Messages
7,976
Reaction score
11,979
Location
Central Florida

What Income Reduces Social Security Benefits?​


Mark Henricks
Wed, November 17, 2021, 10:55 AM


Senior man at work
Senior man at work
If someone receiving Social Security benefits earns money by working, the Social Security Administration may reduce the amount of that person’s benefits. This only affects people who start taking benefits before reaching full retirement age. And only income earned from working has this effect. Other types of income, such as dividends, interest and capital gains from investments, aren’t counted by Social Security for this purpose. If you’ve got questions about working while getting Social Security benefits consult a financial advisor for expert guidance.
Earning While Receiving Social Security Benefits
Opting to receive Social Security retirement or survivor’s benefits does not mean you can’t get income from other sources. And extra money from a part-time job or from investments can help stretch a Social Security check and make retirement more comfortable.

However, people who opt to receive benefits before reaching full retirement ageage 67 for people born in 1960 or later – can only earn so much each year before Social Security starts reducing their benefits. The earnings cap is adjusted for inflation. For 2021, it is $18,960.
Once annual earnings reach the cap amount, for every $2 a Social Security recipient under retirement age earns from working, the total annual benefit gets reduced by $1. For instance, say a recipient gets $1,000 a month in benefits and starts a part-time job that pays $20,000 a year. Subtracting $18,060 from $20,000 yields $1,040. Dividing $1,040 by 2 gives $520. This is the amount by which Social Security will reduce the annual benefit.
People can earn $50,520 before reaching full retirement age without affecting their benefits. And the amount of reduction is also just $1 for every $3 earned over the cap.
In addition, income only counts against the cap until the month before full retirement age is reached. This means a person who reaches full retirement in November after earning $50,000 during the first 10 months of the year would have no reduction in benefits.
After full retirement age, there is no cap on earnings. A recipient can earn any amount without affecting their benefits. This starts with the month a Social Security recipient reaches full retirement age. So the recipient in the above example would continue to receive full benefits after reaching full retirement age in November, no matter how much he or she earns.
Income Sources
Senior woman working in a grocery store
Senior woman working in a grocery store
Not all income is equal when it comes to Social Security earnings caps. Generally, any income that comes from employment counts against the earnings cap. Here are examples of the kinds of income that count against the cap:
  • Wages and salary paid by an employer
  • Net income from self-employment
  • Bonuses
  • Commissions
  • Vacation pay
Income from sources other than working is not included. Some of the income sources that don’t affect Social Security benefits include:
  • Dividends
  • Interest
  • Capital gains
  • Rental income
  • Pensions
  • Annuities
  • Military and government retirement benefits
  • IRA distributions
  • Inheritances
  • Lawsuit settlements
Note that income earned before starting to receive Social Security does not count either. This could include stock options, back pay, bonuses and payments for unused vacation or sick leave. Even if these payments arrive after starting to receive benefits, they aren’t included against the cap as long as they were earned before benefits started.
More On Earning Income While Getting Benefits
If benefits get reduced because an underage Social Security recipient earns more than the cap amount, the money isn’t actually lost. It’s only delayed. After the recipient reaches full retirement age, Social Security will recalculate the benefit. The new benefit will be higher to make up for payments that were withheld because of excess earnings.
Sometimes, earning money while receiving Social Security can also increase your benefit amount. This can happen if, during a year you receive Social Security benefits, you earn enough money to make the year one of your highest earning years. Social Security calculates benefits based on a worker’s highest earning years. So adding a new high level to your earnings record could cause your benefit to increase.
There are different rules for people getting Social Security disability or Supplemental Security Income benefits. These people have to report all earnings to Social Security. In addition, people who earn money for working outside the U.S. are treated differently.
Keep in mind that Social Security uses an estimate for earnings during the coming year when calculating benefits. Recipients are expected to provide an earnings estimate to help the agency calculate benefits. If it appears that earnings will be different from the estimate, recipients are supposed to inform Social Security as soon as possible.
Bottom Line
Older man working on a farm
Older man working on a farm
Social Security recipients who have reached full retirement age can earn as much as they want from any source without it affecting their benefits. However, those who start taking benefits before reaching full retirement age may have their benefits reduced if they earn above a certain amount. Some types of income don’t count against the cap. Those include dividends, interest and capital gains from investments, as well as pensions, annuities and some other sources.
Tips on Retirement
  • Picking the right time to start claiming Social Security benefits can have an outsized effect on a retiree’s financial comfort level. Using an experienced and qualified financial advisor increases the chances of making this decision well. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors in your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
  • The annual payment you receive from Social Security is based on your income, birth year and the age at which you elect to begin receiving benefits. Use this free calculator to get an estimate of what you’ve got coming in the way of benefits.
Photo credit: ©iStock.com/dusanpetkovic, ©iStock.com/gpointstudio, ©iStock.com/valentinrussanov


Exactly. Early file and you can make
$ 18,960.00 cap ( in their system of course )
Or
we penalize you.
All the reason to Stack.
Something, it don't matter what it is.
No W2.
Always amazes me the stuff dot gov peeps say they " grant " you in life.
Like the " right to work "

Regards to all,
 

Uglytruth

Super Moderator
Mother Lode
Midas Supporter ++
Joined
Apr 6, 2011
Messages
17,850
Reaction score
41,391
I plan on cutting firewood, mowing grass and plowing snow for cash. F their caps.



.
They plan on everything being digital & you will need to barter instead of getting paid in cash.
 

TAEZZAR

LADY JUSTICE ISNT BLIND, SHES JUST AFRAID TO WATCH
Midas Member
Sr Midas Sup +++
GIM Hall Of Fame
Survivor
Joined
Apr 2, 2010
Messages
23,607
Reaction score
49,606
Location
ORYGUN
Realize min wage is unofficially $15 hr and most are $18 hr = 36K a year.
Wholly schitt That is 20X what it was when I was 20 Y.O.
1962, Min. wage was .75/hr & I was getting $3/hr

Sooo, today's min. wage dictates that a "run-of-the-mill" hourly job should be $60/hr !!! :ponder:
 

Casey Jones

Train left the station...
Gold Chaser
Joined
Apr 4, 2020
Messages
7,458
Reaction score
12,043
Location
Down the road from the Kaczynski ranch
Wholly schitt That is 20X what it was when I was 20 Y.O.
1962, Min. wage was .75/hr & I was getting $3/hr
Yeah.

And a suburban home in a metro area cost about $12,000. A rural fixer-upper, a couple thousand.

A used car, that ran, could be had for $25 to $100.

A gallon of gas was 25 cents.

A McDonalds hamburger was ten cents. Of course, you could only get one in Illinois or California, then.

Times were different; but the hours worked for some goods, remained relatively constant.

What IS different is, how fast you could climb the wage ladder. I knew kids, classmates, big guys, who got jobs in the Ford Cleveland Engine plant. In the foundry. Hot, dirty, dangerous work - and they were rich right out the gate. Better than going into the Army for college - just work four years there, bank your money, and then pay Cleveland State's tuition, easy. Or Ohio State, a little harder, take some planning, but it could be done.

Or blow it all on expensive cars and cheap women. That's what most of them did do. But, if you survived, you were likely in for life...except, of course, the 1979-83 recession, which had so many UAW members laid off...
 

gringott

"Internet Moofluencer"
Midas Member
Site Supporter ++
Joined
Apr 2, 2010
Messages
18,926
Reaction score
31,226
Location
Stable
Right to not work. That is what I like.
 

Uglytruth

Super Moderator
Mother Lode
Midas Supporter ++
Joined
Apr 6, 2011
Messages
17,850
Reaction score
41,391
1970 AVERAGE factory job in Toledo Ohio $5 hr = 10K yr.
House = 15K 3x of gross
Car = $2500 1/4 of gross

2021Average factory job in Toledo paying $18 = 36K yr.
House = 150K 4.16 x gross
Car = 35K 1 x gross

What6 do people borrow money for? House, car.

Question; What does the AVERAGE person need to make to keep things in line? Tazzer is close but didn't factor in the massive taxes we now pay.
 

Scorpio

для продажи слегка подержанный
Founding Member
Board Elder
GIM Hall Of Fame
Joined
Mar 25, 2010
Messages
33,326
Reaction score
54,162
exactly what I have been referencing for years,

the slaves need wage growth to keep the dream alive,
giving them a wage then turning around and taking it through price inflation of goods = a net negative for them

people cannot pay for 50k vehicles or 350k houses at current wage rates,

currently, the only thing making up any of the difference is the cost of credit is far less

back in those days, the cost of credit to finance was much much higher,

a 15k house at 10% for 30 equates to a payment of about $105/mth with 20 down
or 12.6% of yearly gross to house payment
(in 70 rates were propbably in the 7-8 range and not 10%, as that happened later on)

a 350k house at 4% for 30 equates to a payment of about $1336/mth with 20 down
or 44.55% of yearly gross to house payment

meaning, it now takes 2 to play at those wages,
both husbant and wifey work = $72k per year
and even at that, it is still 22% of yearly gross going to house payment,
which is almost double what it was in 70 assuming the figures above are even close

for the number to flop equal, BOTH husbant and wifey need to make a combined $125k just to equal the same mortgage burden that was occurring in '70

it is just math,

the wage slaves have been going backwards for years,

edit to add:

in 1970 the median home price was $23,800
in 2020, the median is $352,800
 
Last edited:

Goldbrix

Mother Lode Found
Mother Lode
Midas Supporter ++
Joined
Apr 4, 2010
Messages
20,540
Reaction score
32,247
What IS different is, how fast you could climb the wage ladder. I knew kids, classmates, big guys, who got jobs in the Ford Cleveland Engine plant. In the foundry. Hot, dirty, dangerous work - and they were rich right out the gate. Better than going into the Army for college - just work four years there, bank your money, and then pay Cleveland State's tuition, easy. Or Ohio State, a little harder, take some planning, but it could be done.
At that time International Harvester made their engines, & Semi-tractors in Springfield, Ohio. The same went for those guys that got hired straight out of high school.
The worse thing they did was drop the SCOUT or sold it off to a Mexican faction.
Nowadays IH is pretty much just a logo
 

edsl48

Midas Member
Midas Member
Midas Supporter
Joined
Apr 2, 2010
Messages
4,021
Reaction score
8,583
exactly what I have been referencing for years,

the slaves need wage growth to keep the dream alive,
giving them a wage then turning around and taking it through price inflation of goods = a net negative for them

people cannot pay for 50k vehicles or 350k houses at current wage rates,

currently, the only thing making up any of the difference is the cost of credit is far less

back in those days, the cost of credit to finance was much much higher,

a 15k house at 10% for 30 equates to a payment of about $105/mth with 20 down
or 12.6% of yearly gross to house payment
(in 70 rates were propbably in the 7-8 range and not 10%, as that happened later on)

a 350k house at 4% for 30 equates to a payment of about $1336/mth with 20 down
or 44.55% of yearly gross to house payment

meaning, it now takes 2 to play at those wages,
both husbant and wifey work = $72k per year
and even at that, it is still 22% of yearly gross going to house payment,
which is almost double what it was in 70 assuming the figures above are even close

for the number to flop equal, BOTH husbant and wifey need to make a combined $125k just to equal the same mortgage burden that was occurring in '70

it is just math,

the wage slaves have been going backwards for years,

edit to add:

in 1970 the median home price was $23,800
in 2020, the median is $352,800
That is why the "slaves" as you call them will never get ahead beyond some instant gratification of a new 4 wheeler or pick up truck. One thing you could add to your example is retiremet indebtedeness. Back in those 1970's peole considered themselves in good financial shape if they had a paid off mortgage, social security and many had pensions. They planned on leaving their children with an inheritence if only just that paid off home. Today these senior citizens have real estate tax issues (that they voted for)**, have mortgages that are not paid off and many take out reverse mortgages to pay for living expenses. As a general statement, they are in financial peril at their most fragile years.

** Here in Illinois and I am sure other states as well seniors do get real estate tax breaks based upon financial need. They, the seniors, proclaim"we paid our way now it is time for the younger to pay their way. The interesting thing is, to me, todays senior's parents didn't ask for tax givaways and it is these very seniors who voted in all the tax hikes to begin with. Now, feeling entitled' they expect others to pay their way because of their own poor financial decisions.
 

Scorpio

для продажи слегка подержанный
Founding Member
Board Elder
GIM Hall Of Fame
Joined
Mar 25, 2010
Messages
33,326
Reaction score
54,162
well, it really isn't all their fault,

they are really low IQ, and they have been flummoxed by the shifty and devilish,

they actually live by a persons word should be good ...........O' he wouldn't do that!

completely naive and unwilling to accept what 2 leggahs really are,
purposefully ignoring the obvious to maintain their innocence,
while dumping their true obligations on to others, lawyers, doctors, teachers, bankers
never once allowing that those professions are not honorable, quite the opposite

but to be fair, high IQ wasn't a trait in high demand,
whereas survival, nurturing, and manual labor bore the brunt of the real day to day needs

but because of that, they are extremely gullible, and easily manipulated
 

Casey Jones

Train left the station...
Gold Chaser
Joined
Apr 4, 2020
Messages
7,458
Reaction score
12,043
Location
Down the road from the Kaczynski ranch
At that time International Harvester made their engines, & Semi-tractors in Springfield, Ohio. The same went for those guys that got hired straight out of high school.
The worse thing they did was drop the SCOUT or sold it off to a Mexican faction.
Nowadays IH is pretty much just a logo
They really didn't have any choice. They were in a corner.

Their pickups and the Scout, weren't selling in numbers large enough to justify hiring the engineers to meet the new safety and CAFE and emissions standards. Even GM was stressed; and the Cahteh Administration, in its wisdom, had decreed that the manufacturers pooling their knowledge to comply with emissions and other standards, would violate Antitrust laws. So...GM had a hard road; Ford, harder; Chrysler was effectively broke. AMC sold itself to French company Renault to get the money.

International Harvester had no one to go to. So, in 1975, with the choice of modernizing their slow-selling pickup and Travellall, they axed those. The Scout stayed on until 1980, while they tried to either sell the line, or find a bigger maker to make it for them. AMC, which made some of IH's light-truck engines in the last years, was given the chance to assemble the Scout for them, or sell a rebadged Jeep through IH. They passed.

Meantime, a big strike.

So, management decided...get out of automotive. Which was not surprising, since the social dynamic was changing. In the 1950s, IH thought they could become a one-stop retail brand for farmers - everything from tractors and harvesters, to trucks, to rural-oriented kitchen appliances. Sort of like, Farm & Fleet going into the agricultural business; or being bought by a tractor maker. IH Supercenters were planned - that was part of the then-new Man-On-A-Tractor IH logo. It was to be used everywhere in their retail environment.

It didn't come to be. Tractor dealers didn't want refrigerators, home appliances or trucks. Many of the IH dealers did take on the trucks - reluctantly. They didn't know how to sell cars, and that was one reason truck sales kept sliding, as pickups became more suburban-focused. And the Scout was an odd duck in the mix. Farmers didn't need it and dealers didn't want it. It needed to be sold elsewhere; but the IH dealers were the only place it was.

Where dealers resented the whole car line.

So...post-strike, with the company in crushing debt...the Scout line was closed down. The tractor line, along with the Man-On-A-Tractor logo, was sold to Case. (Who canted the logo, taking away its meaning - the red small I is a man, and the black H, two tractor wheels...cant it over, and you no longer see it). They decided to focus on the most-profitable line, heavy trucks, and develop new dealer outlets.