social security benefits
fuzzyapple
9 years ago
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sushipup1
9 years agoPhoneLady
9 years agoRelated Discussions
When to take Social Security?
Comments (2)Retirement appears less and less likely for many people. Wages have barely improved in decades and the cost of living is going up, tempting some people to retire overseas. It could be done, but there are a ton of plans one has to make first. One can always retire abroad for much less. It's good to think that Social Security still pays benefits to overseas retired persons, though taxes on that income in a new home country may apply as well as to the United States....See Morehow will casino winnings affect ss benefits?
Comments (3)Being resident of a different country, I have no advice to offer with regard to the issue raised. But your question wouldn't affect me, were I a resident of the U.S. Twenty years a clergyperson, ten of them helping refugees get back on their feet after a nasty war ... ... and 25 years a personal financial advisor ... ... I don't visit casinos. Don't buy lottery tickets. They're great for the owners of the system ... not so hot for the participants. Question: What's a government-sponsored gaming system? Answer: A voluntary tax on the stupid. Have yourself a great, prosperous summer. ole joyful P.S. As the casino winnings are in the nature of being a personally-operated business ... ... do they allow you to deduct the cost of all of your losses? Do they allow you to deduct (at least a portion of) the cost of travel from your home to A C to pursue that business? Hotel room while there?...See MoreQuestion about future social security benefits
Comments (18)Your SS benefits are not based on the last year you worked. It looks at your highest paid 35 years over your entire working career. It goes something like this: The calculation will be made over 35 years which is 420 months. First, your record is searched for 35 highest paid years. If you do have that many, then there will be some years counted as zero years. Next, the older years are indexed to sort of bring them up to todays dollars. The factors used is something like a cost-of-living adjustment, but in my humble opinion, the adjustment falls short of the actual inflation rate. However, the same index is applied to everybody be they rich or poor. For example, if you earned $100 30 years ago, the adjustment factor might be 4.5, so your $100 income made 30 years ago would be adjusted to 4.5 x 100 or $450 in current dollars. This is done for each year using a different factor for each year. If there are zero years, these are included also. The 35 highest paid years are used or all the years if there is less than 35. All of the adjusted years are totaled and then divided by 420, the number of months in 35 years. This becomes the average monthly income figure that is used to determine your benefit. Clear as mud? I hope it is a little better than that. Go to the social security site to find this information. The indexing list should be there and it may change some for each passing year. The formula for using the average indexed monthly taxed earnings for computing the benefit should be there....See MoreNeed More 'Ants' -- And Higher-Income Jobs
Comments (24)All the talk about the "one percenters" has become a cliche. Think about it - whether everyone is rich, or everyone is poor, or everyone is exactly the same in the middle, there's always a top 1%. A bottom 10 percent too, and every percentile strata in-between. It's meaningless. But while where here, nothing that the most wealthy do or don't do is going to influence anyone's life. Unless you're talking about Bill Gates-type people who try to do good with what they have. But as with him and the others, you can really ignore them, most people have more important and interesting things to think about. To your comment, neither are unions inherently good. As a segment of society, probably none other has been more corrupt and law-breaking nor had more self-focused leaders in the past century. If you want to give that segment a big hug, go ahead. Hedge and private equity funds have put a lot of wealth in the pockets of little guys. Think about it, when they do a buyout, all selling shareholders benefit. People who have their own investments, or who have an interest in pension funds, are the ones who bank the profits. Yes, along with institutions too. So what, always plenty to go around. Those investment funds that your bad guys run are investing funds that come from university endowments, pension funds, and lots of other monies of nonprofit entities. They don't always hit home runs with their investments, far from it. Sears is a good example, it is a business from yesteryear that will die in the modern world. Wrong business, wrong place, wrong time. Not the investors' vault. They made a bet and picked the wrong horse, that's how it works. I agree with your last paragraph. The US has never had a robust system for trade education, and there's less now in most places than before. A good model to follow is Germany, with well defined (and funded) programs for those having other than an academic bent. The rules require businesses to hire a certain quota of interns and apprentices depending on their size. The larger the company, the more they need to hire and train. It works....See Moremaifleur01
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