Applying for Social Security - 65 -What was your experience like?
Oakley
4 years ago
Featured Answer
Sort by:Oldest
Comments (27)
Olychick
4 years agolast modified: 4 years agoFun2BHere
4 years agoRelated Discussions
For Ladyrose65: Sorry about your loss & found the salt contents
Comments (4)Hi Ladyrose: I'll check out Rosemania.com, thanks for giving me the website. Hi Kitty: I checked on liquid fish emulsion, it's less salty than fish meal, it's preserved in phosphoric acid which gives a pH of 4 to 5. I found a link that showed excellent result with Neptune soluble fish emulsion, pH of 5.0, calcium of 3.64, and Iron of 101. Neptune has good amounts of calcium and iron, which are often deficient in alkaline clay soil. The alfalfa pellets did poorly in this university experiment, showing chlorosis in marigolds. Alfalfa pellets has pH of 5.9, calcium of 2.24, and less Iron at 65. However, when neptune soluble fertilizer is used in conjunction with alfalfa pellets, marigolds achieved biggest bloom. Both Chamblee and Heirloom nurseries recommend a slow-release nitrogen fertilizer, then a soluble fertilizer applied at 2 weeks interval. The Chicago Botanical Garden stated their soil pH at 7.4, with composted leaves and they use a soluble fertilizer 20-20-20 for their roses. However, there's salt-build up with chemical like MiracleGro, esp. with potassium chloride with a salt index of 118.2, and ammonium sulfate with a salt index of 88.3. Anything good in excess can be harmful. Someone reported using a $10 bottle of fish emulsion for the entire year, in a very diluted dosage with good result. Others report bad burns with fish emulsion called "Alaska MorBloom", NPK of 0-0-10-10. High phosphorus content like bone meal and MorBloom is notorious for burning plants' roots, and best used more diluted than instructed. Below is the link to a University study on Neptune Fish fertilizer, they use discarded RAW fish, which preserves the enzymes and bacteria beneficial that feed both the soil and the plants. Other fish products use COOKED fish, which destroys the enzymes. Here is a link that might be useful: University of Massachusetts on Organic Fertilizer...See MoreCanadians with major assets wanting to retire under 65
Comments (10)Maybe a fund of about $1.333 million at about 3% would be a more feasible scenario. Not providing for sale of some assets, rather probable in a 1.5 - 2 million or larger asset portfolio situation (some paying almost no dividends or none), which would result in capital gains/(losses) to relate to current income. In earlier years, if one received $10,000. of dividends from Canadian Corporations, one added (Grossed-up) 25% to that figure to find the taxable amount of dividend income, to report $12,500. on the tax return. Then 13.333% of that amount, or Dividend Tax Credit of $1,666.63 was deducted from the tax that one owed. Non-refundable tax credits were available to most taxpayers, and those along with the dividend tax credits, allowed "taxpayers" with no other income to have about $27,000. solely dividend income to have nil tax to pay. Now this situation is called "Ineligible dividends" and the ratios are as indicated above. A new category of "Eligible dividends", which seems to include dividends paid by most stock-exchange-listed Canadian corporations, are grossed up by 45%, i.e. $10,000. cash is reported as $14,500. on the tax return - and have a Dividend Tax Credit of 18.9655% of the taxable amount, or $2,750. deducted from the tax owing. This, added to the Non-refundable tax credits, allows a "taxpayer" to have nearly $40,000. before becoming tax-liable. Which may be pushed higher in various other circumstances that I think that I outlined above. Most long-term Canadian residents, including non-employed people (e.g. housewives), qualify for Old Age Security at age 65 of about $5,800. annually. As this is a non-contributory Federal benefit, if the taxpayer's annual income is over about $55,000., part of that Old Age Security is clawed back by the gov't. The clawback amount increases, till the total amount of one's O.A.S. is clawed back when one's income is in the mid- to high $80,000.00s. Cash dividend of $40,000. plus 45% becomes $58,000. on tax return, plus $5,800. O.A.S., close to $64,000. taxable, will result in substantial clawback of one's O.A.S. benefit. Plus reduction in senior's Age credit, which reduces with increased "income" - whether "real" or "imagined" income! "Gross", huh? Canada Pension Plan (mandatory contributions by both employer and employee, therefore a contractual benefit) allows members who are "substantially retired" (rather loosely defined) to stop contributing and begin to claim benefits at any time between age 60 and 70, with 6% annual reduction if claimed under 65 and 6% annual addition if over 65. Taxable. Private pension plan benefits are available to some people. Benefits of up to $1,000. from private pension plan or RRIF payments qualify one for a non-refundable tax credit, dollar for dollar, up to $1,000. If one is age 69, partial owner (the government being the other partial owner) of a tax-deferred retirement account (RRSP), it must be closed out by the end of that year - or the rules provide that it will be closed out as of Dec. 31 of that year and the total amount added to income in that year. Scarcely anyone chooses this route!! Most personal money managers prefer to use the RRSP money: 1) to buy an annuity (not so hot an idea in these low-interest times), or 2) to roll over into a Registered Retirement Income Fund. With a RRIF, no more deposits allowed, and required to remove at least a given percentage annually, beginning at about 7.5% and rising to 20% annual withdrawal at age 90 and later. Residue in a RRIF on owner's death: if no spouse, infant or disabled dependent kid is added to deceased's income in year of death, or can be fully transferred to one in spouse's name with no tax consequences - yet. Residue is added to current income in year of surviving spouse's death. Where these or other income situations are obtained, the tax reduction is still substantial - but one doesn't avoid tax entirely: one is then a taxpayer (no quotation marks)! There are some other games that an astute portfolio manager can employ, if she/he is willing to a take some moderate short-term risks. There are several fairly smart women in the monthly investment shareclub that I've attended for about 7 years. Good wishes for wise and constructive use of retirement assets. ole joyful...See MoreCanadian wants retire (65, maybe $47,000. tax-free income
Comments (1)Ya right Most Canadians don't have dividend income. Most Canadians don't have near the money set aside to retire at 45 and live for 20 years with no income. Most Canadians take their Canada Pension early, because it gives you income for 5 years before the Old Age Pension kicks in. Go whistle up another tree and start living in the real world. Anyone who needs your information is rich enough to have a money manager and not need your information at all....See Moreand then the fight started...
Comments (3)That's funny....See Morearkansas girl
4 years agolast modified: 4 years agoratherbesewing
4 years agosalonva
4 years agolittlebug zone 5 Missouri
4 years agoeld6161
4 years agomaddielee
4 years agosalonva
4 years agoOakley
4 years agosushipup1
4 years agomaddielee
4 years agocooper8828
4 years agoUser
4 years agolast modified: 4 years agowoodrose
4 years agosheesh
4 years agoOakley
4 years agosheesh
4 years agodedtired
4 years agoOlychick
4 years agolast modified: 4 years agocyn427 (z. 7, N. VA)
4 years agoOakley
4 years agogsciencechick
4 years agoOakley
4 years agodedtired
4 years agoOlychick
4 years ago
Related Stories
ARTBring In a View Like You’ve Never Imagined
See how art photographers turn a plain white wall into a magical window with a centuries-old camera technique — and how you could try it too
Full StoryCOFFEE WITH AN ARCHITECTA Few Things I Would Like to Ask Frank Lloyd Wright
It could take a lifetime to understand Frank Lloyd Wright's work — less if we had answers to a few simple questions
Full StoryHOMES AROUND THE WORLDWorld of Design: 11 Book Lovers and Where They Like to Read
Bibliophiles across the globe reveal their top books and favorite reading spots, from a 2-story library to an artfully curated book nook
Full StoryCONTRACTOR TIPSContractor Tips: 10 Home Areas That Likely Need a Pro
Safety, less cost and better aesthetics on a home improvement project may rest in the hands of an expert
Full StoryCOMMUNITYGood Neighbors Make Her Street Feel More Like Home
A local historian, a burglary stopper and the world’s greatest grandparents have enriched this writer’s life
Full StoryORGANIZINGWhat It’s Really Like to Work With a Professional Home Organizer
A pro organizer tackles 10 questions about how the real-life organizing process may differ from what you see on TV
Full StoryLIFERetirement Reinvention: Boomers Plot Their Next Big Move
Choosing a place to settle in for the golden years? You're not alone. Where boomers are going and what it might look like
Full StoryHISTORIC HOMESMust-Know Modern Homes: Villa Mairea
Experimenting led to rich rewards in this Finnish architectural masterpiece by modernist Alvar Aalto
Full StoryLIFESimple Pleasures: Dinner for One
Make a solo meal a luxurious experience by savoring the moment along with whatever you cook
Full StorySMALL SPACES11 Design Ideas for Splendid Small Living Rooms
Boost a tiny living room's social skills with an appropriate furniture layout — and the right mind-set
Full StorySponsored
User